Comstock Resources/$CRK

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About Comstock Resources

Comstock Resources Inc is an independent natural gas producer operating in the Haynesville shale, a natural gas basin located in North Louisiana and East Texas with superior economics given its geographical proximity to the Gulf Coast natural gas markets. The Company operates in one business segment, the exploration and production of North American natural gas and oil. It is engaged in the acquisition, development, production, and exploration of oil and natural gas. The company's oil and gas operations are concentrated in Louisiana and Texas.
Ticker
$CRK
Sector
Energy
Primary listing
NYSE
Employees
252

CRK Metrics

BasicAdvanced
$3.8B
7.44
$1.73
0.10
-

Bulls say / Bears say

Second-quarter production rose 16% sequentially to 113.1 Bcfe, while new wells averaged about 31 MMcf per day initially. The 2026 plan for 70 operated wells gives Comstock a clear route to further volume growth. (GlobeNewswire, Natural Gas Intelligence)
The proposed $1.65 billion SOCAR transaction could cut pro forma net debt from about $3.1 billion to $1.5 billion. Comstock would retain operatorship, which could materially improve financial flexibility without giving up control of its core assets. (StockTitan, GlobeNewswire)
A Jones family drilling venture is expected to fund 80% to 85% of the costs of 27 Haynesville wells over the next year. That shifts much of the near-term development burden away from Comstock while adding volumes from its large Western Haynesville position, which is close to Gulf Coast LNG and power demand. (GlobeNewswire, Natural Gas Intelligence)
Low gas prices are still squeezing earnings. Comstock realised $2.55 per Mcfe before hedging in the second quarter and made only $8.8 million of net income, despite $43.3 million of realised hedging gains. (GlobeNewswire, Natural Gas Intelligence)
The business remains cash-hungry and highly leveraged. First-half capital spending of about $829.5 million exceeded operating cash flow of $442.2 million, while second-quarter debt was about $3.13 billion against only $45 million of cash and 2026 capital spending is expected to reach $1.45 billion to $1.55 billion. (Zacks Investment Research, GlobeNewswire)
The balance-sheet improvement is not secured yet: the SOCAR arrangement is only a letter of intent and still requires definitive documents, negotiations and approvals. If it closes, Comstock will also give SOCAR interests in existing assets and rights to participate in future Haynesville opportunities, diluting some of the upside. (GlobeNewswire)
Data summarised monthly by Lightyear AI. Last updated on 16 Sept 2026.
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