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Sat, May 9, 2026 astatine 6:03 PM CDT 8 min read
Key Points
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Comstock’s Q1 results were weaker arsenic accumulation fell twelvemonth implicit twelvemonth owed to wintertime upwind disruptions and delayed good completions, pressuring realized prices and lifting operating costs. Adjusted nett income came successful astatine $44 million, oregon $0.15 per share, versus nett income of $107 cardinal that included a ample hedge-related mark-to-market gain.
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Management expects accumulation to amended aboriginal successful 2026 acknowledgment to beardown drilling results successful the Western and bequest Haynesville, with respective caller wells showing precocious archetypal accumulation rates. Comstock kept its rig number astatine 9 and continues to trial drilling and completion enhancements to little costs and amended performance.
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The Western Haynesville remains a strategical maturation focus, and the institution highlighted a imaginable semipermanent request boost from a planned 5.2-gigawatt gas-fired powerfulness procreation hub astatine its tract successful Texas. Comstock besides ended the 4th with coagulated liquidity of astir $1.3 cardinal and is moving connected Pinnacle Gas Services financing and equity plans.
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Comstock Resources (NYSE:CRK) reported little first-quarter 2026 results arsenic accumulation declined from the prior-year period, with absorption citing important wintertime upwind impacts and the timing of caller wells brought online precocious successful the quarter.
Chairman and Chief Executive Officer Jay Allison said first-quarter earthy state and lipid income totaled $339 million, portion operating currency travel was $192 million, oregon $0.66 per share. Adjusted EBITDAX was $251 million, and adjusted nett income was $44 million, oregon $0.15 per share.
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President and Chief Financial Officer Roland Burns said accumulation averaged 1.1 Bcfe per time during the quarter. Comstock reported nett income of $107 million, oregon $0.38 per share, but Burns noted that the fig included a pre-tax $83 cardinal mark-to-market unrealized summation related to the company’s hedge book. Excluding that gain, exploration disbursal tied to seismic enactment successful the Western Haynesville and different non-recurring items, adjusted nett income was $44 million.
Winter Weather and Pricing Weighed connected the Quarter
Management said little accumulation was a cardinal origin successful the weaker fiscal results compared with the archetypal 4th of 2025. Burns said wintertime upwind affected output and delayed tract activity, including completions and rig moves, peculiarly successful Louisiana.
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