Dallas Cowboys owner Jerry Jones, already majority shareholder in Haynesville Shale pure-play Comstock Resources Inc., has agreed to invest an additional $100.5 million into the company. Two Jones entities agreed to acquire 12.5 million shares of common stock in the private placement at $8.036/share. The price represents the average closing prices for the five trading…
Comstock
Articles from Comstock
Comstock Shedding Rigs, Suspending Dividend Amid Natural Gas Price Slump
Haynesville Shale pure-play Comstock Resources Inc. is pumping the brakes on natural gas drilling and shareholder distributions because of low commodity prices. “In response to weak natural gas prices, Comstock plans to suspend its quarterly dividend until natural gas prices improve,” management said. “In addition, the company plans to reduce the number of operating drilling…
Comstock Moves to Boost Western Haynesville Exposure to LNG with Midstream Partnership
Comstock Resources Inc. has forged a midstream partnership to boost outflow from its western Haynesville Shale assets as it looks past the current slump of natural gas prices into a future of surging Gulf Coast LNG demand. The Frisco, TX-based independent disclosed it is contributing its Pinnacle gathering system and 145-mile associated pipeline, as well…
Natural Gas ‘Price Plunge’ Said to Make Even Top Basins Unattractive for Investment
The decline in U.S. natural gas prices, combined with elevated costs to drill a well, are forecast to slow down drilling and completions (D&C) activity in the gassy basins of the Lower 48. Rystad Energy Vice President Serik Omarov in a note said the gas price decline has created uncertainty for exploration and production (E&P)…
View From Wall Street – U.S. Natural Gas Production Cuts Needed to Salvage 2023 Prices
Lower natural gas output volumes are needed to reverse suddenly weak prices in 2023, several analysts said in new outlooks. Yet, they also cautioned exploration and production (E&P) firms against scaling back too aggressively because U.S. export demand is poised to surge in coming years. “Prices have been spiraling,” and “there is little upside potential…
Comstock Scores Big on Strong Natural Gas Prices, LNG Sales from Haynesville Output
Haynesville Shale pure-play Comstock Resources Inc. scored in the third quarter, lifted by strong natural gas prices and by selling 15% of output directly to LNG shippers on the Gulf Coast. The Frisco, TX-based independent gained leverage with 70% of its natural gas sold in “high value” Gulf Coast markets, including the liquefied natural gas…
Comstock Targeting Haynesville Natural Gas Production Growth as Fundamentals Seen ‘Never Stronger’
Executives at Haynesville Shale-focused Comstock Resources Inc. said they expect 4-5% natural gas-weighted production growth in 2022. The plan for the year is still focused around capital discipline, with the aim to pay down $479 million in debt so the “leverage ratio is at 1.5 or less. We think we can get there in the…
Comstock Bullish on Bossier’s Potential, but Takes Hit on Hedging
Management at U.S. independent Comstock Resources Inc., which has made its name as a Haynesville Shale natural gas giant, is increasingly bullish on the Bossier formation as part of its strategy. Of the 21 wells the Frisco, TX-based company turned to sales in 2Q2021, only two were Bossier wells, management said during the second quarter…
Comstock Bolts On in Haynesville, to Trim ’20 Rig Count on Low Natural Gas Prices
Comstock Resources Inc. has beefed up its Haynesville Shale inventory with the all-stock acquisition of an undisclosed operator, but going into 2020 it plans to run fewer rigs in the natural gas-heavy play.
Comstock Playing Defense as Haynesville Natural Gas Output Battles Weak Prices
Comstock Resources Inc., which this year became the No. 1 operator in the natural gas-heavy Haynesville Shale, said second quarter output from the play was 88% higher than a year ago and 19% higher sequentially, but confronted with continued low prices, the company is playing defense.