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Comstock Touts Eagle Ford Delineation, First TMS Well in 4Q
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Comstock Resources, Inc. reported financial and operating results for the quarter and year ended December 31, 2014.
Oil production in 2014 increased 86% to 4.3 million barrels, as compared to 2.3 million barrels produced in 2013. Gas production decreased 29% to 39.8 Bcf in 2014 as compared to 55.7 Bcf produced in 2013. Comstock's average realized price for natural gas increased 23% to $4.16 per Mcf in 2014 as compared to $3.38 per Mcf for 2013. The Company's average realized price for oil, including hedging gains, in 2014 of $92.50 per barrel was 9% below the average realized price of $101.19 per barrel in 2013. Oil and gas sales from continuing operations (including realized gains from hedging) increased by 34% to $564.4 million in 2014 as compared to $422.6 million of sales in…
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