Comstock Resources Q1: Net loss $115.4M on $322.4M hedging loss; adj. net income $53.8M

COMSTOCK RESOURCES INC

2025-Q1 EPS reported -$0.40 revenue$512,854,000

Sales $405M (incl. $8M hedging loss). Net loss $115.4M ($0.40/sh) due to $322.4M unrealized hedging loss.
Adjusted net income $53.8M ($0.18/diluted sh). Adj. EBITDAX $293M. Operating cash flow $239M.
Natural gas production 115 Bcf; realized price $3.58/Mcf ($3.52 after hedging).
Turned 14 (11.3 net) wells to sales avg 25 MMcf/d. Western Haynesville well Olajuwon Pickens #1: 41 MMcf/d.
Bank group reaffirmed $2.0B borrowing base under $1.5B revolver.

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