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Comstock 1Q16; Haynesville Well Results; Sees $56.6MM Loss
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Comstock Resources, Inc. reported financial and operating results for the three months ended March 31, 2016.
Key Points: Comstock drilled one horizontal gas well (0.9 net) and had one well (0.9 net) drilling at March 31, 2016. The Ramsey 4-9 #1 well in DeSoto Parish, Louisiana IPed at 23 MMcf/d - vertical depth of 11,425 feet with a 7,367 foot lateralComstock produced 13.8 billion cubic feet of natural gas and 416,700 barrels of oil or 16.3 Bcfe in the first quarter of 2016. Comstock reported a net loss of $56.6 million or $1.14 per share for the first quarter of 2016 as compared to a net loss of $78.5 million or $1.71 per share for the first quarter of 2015. The Company continues to take steps to improve its balance sheet. To date in 2016, the Company has retired $104.3 million in…
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