Skip to main content Q1 2011 Earnings Call – Comstock Resources Inc. Investor Presentation | Shale Experts
Loading...
Pm

Q1 2011 Earnings Call – Comstock Resources Inc.

Comstock Resources Inc. · May 3, 2011 · 25 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q1 2011 Earnings Call – Comstock Resources Inc. – slide 1
    NYSE:CRK 1st Quarterr 2011 Results
  2. Q1 2011 Earnings Call – Comstock Resources Inc. – slide 2
    2011 1stt Quarter Q Highlights Hi hli h Weak natural gas priices continue to define financial results Oil & Gas Sales - 88 million EBITDAX - 65 millio on Cash Flow From Operrations - 56 million (1.18 per share) Net Income - 2.4…
  3. Q1 2011 Earnings Call – Comstock Resources Inc. – slide 3
    P Production Mmcfe / day 222 219 208 209 184 187 188 168 163 164 169 102 160 157 84 93 2 27 56 133 6 85 94 72 80 87 89 7 78 72 60 58 7 6 54 58 7 49 8 7 6 46 41 6 9 6 6 61 64 6 6 10 59 56 5 58 56 55 50 49 44 39…
  4. Q1 2011 Earnings Call – Comstock Resources Inc. – slide 4
    A eerage Oil Price Ave Per Barrel 34% iincrease 94.10 over 2010s 89.94 first quarter 67 08 67.08 2010 Q1 2011 Q1 NYME EX 96% of NYMEX 5
  5. Q1 2011 Earnings Call – Comstock Resources Inc. – slide 5
    A errage Gas Price Aver Per Mcf 25% ddecrease 5.30 from 2010s first quarter 3.96 4.11 2010 Q1 2011 Q1 NYME EX 96% of NYMEX 6
  6. Q1 2011 Earnings Call – Comstock Resources Inc. – slide 6
    Oill & Gas Sales in millions 106 88 17% ddecrease from 2010s first quarter 2010 Q1 20 011 Q1 7
  7. Q1 2011 Earnings Call – Comstock Resources Inc. – slide 7
    E EBITDAX in millions 80 65 19% ddecrease from 2010s first quarter 2010 Q1 201 11 Q1 8
  8. Q1 2011 Earnings Call – Comstock Resources Inc. – slide 8
    Opera ating Cash Flo Flow in millions 72 56 22% ddecrease from 2010s first quarter 2010 Q1 2011 Q1 9
  9. Q1 2011 Earnings Call – Comstock Resources Inc. – slide 9
    Earnings in millions (eexcept per share amounts) 7.3 Unusual Items in First Quarter: Pre After Per Tax Tax Share Early Extingushment of Debt (1.1) (0.7) (0.02) Acerage Impairment (9.5) (6.1) (0.13) 2.4 Gain on Sale of SGY…
  10. Q1 2011 Earnings Call – Comstock Resources Inc. – slide 10
    Coosts per Mcfe Lifting 1.17 1..13 1.08 0 24 0.24 1.02 0 18 0.18 0.24 0.90 0.29 0.24 0.18 0.09 0.28 0.02 0.04 0.75 0.75 0.71 0.71 0.58 2010 1Q 2010 0 2Q 2010 3Q 2010 4Q 2011 1Q Lifting Production Taxes…
  11. Q1 2011 Earnings Call – Comstock Resources Inc. – slide 11
    Coosts per Mcfe General & A Administrative 0.30 0 29 0.29 0..27 0.26 0.23 2010 1Q 2010 0 2Q 2010 3Q 2010 4Q 2011 1Q Excludees Stock-based Compensation 12
  12. Q1 2011 Earnings Call – Comstock Resources Inc. – slide 12
    Coosts per Mcfe Depreeciation, Depletion & Amortization 3.15 3.03 2.87 2.91 2.72 2010 1Q 2010 2Q 2010 3Q 2010 4Q 2011 1Q 13
  13. Q1 2011 Earnings Call – Comstock Resources Inc. – slide 13
    Capittal Expenditures E pendit res in millions 15 57..8 57 0.1 33.7 Includes 10 10 million in 2010 and 13 13 million in 2011 for 93 93..7 Exploration Acreage 0.3 2.2 124.0 91 2 91.2 East Texas / North Louisiana…
  14. Q1 2011 Earnings Call – Comstock Resources Inc. – slide 14
    Baalance Sheet As of in millions m March 31, 31 2011 Cash 4 Marketable Seccurities (1) 81 Total 85 Bank Credit Faacility - Borrowing Base B 500 % Availablee 100% 7% Senior Nootes 300 8% Senior Nootes 297 Total Debt 597 Total…
  15. Q1 2011 Earnings Call – Comstock Resources Inc. – slide 15
    C Comstocks k HHaynesville ill Shale Sh l Acreage A Gross Acres 93,000 Net Acres 81,000 Well Spacing 80 Acres Per Well 6 Bcfe Reserves Texas Resource 4.6 Tcfe* 21,000 net acres Potential *Assumes 25% Royalty…
  16. Q1 2011 Earnings Call – Comstock Resources Inc. – slide 16
    C Comstocks k Bossier B i Shale Sh l A Acreage Gross Acres 62,000 Net Acres 52,000 Well Spacing 80 Acres Per Well 5 Bcfe Reserves Resource 2.4 Tcfe* Potential *Assumes 25% Royalty Interest Comstock Acreage 17
  17. Q1 2011 Earnings Call – Comstock Resources Inc. – slide 17
    E T East Texas / North N hL Louisiana ii A Activity i i Waskom (1 well 1.0 net) Cotton Valley H Haynesville Shale Mansfield Cotton Valley (3 wells .3 net) Logansport (5 wells 3.2 net) Toledo Bend North (2 wells .6…
  18. Q1 2011 Earnings Call – Comstock Resources Inc. – slide 18
    C ryover Activity Car A i i Status off Haynesville y e / Bossier Shale Wells Drilled in 2010 Total 35 (72 Gross Weells) 29 Com mpleted Not Completed 37 35 35 5 51% 49% 12/31/2010 3/31/2011 Total 23.4 (45.0 Net…
  19. Q1 2011 Earnings Call – Comstock Resources Inc. – slide 19
    BSMC 7 1H 52 BOGUE 6H 45 HART 1H 36 GREEN 13H 74 MON EYHAM 7H 49 HOLMES 1H H 56 HEA ADRICK 1H 31 BSMC 12 1H B 34 BROOME 1H B 41 COLVINCRANER 1H 25 CARAWAY…
  20. Q1 2011 Earnings Call – Comstock Resources Inc. – slide 20
    2011 Haynesvil H illl lle Sh Shale l DDrilling illi P Program Mansfield 3 wells Waskom 1 well Logansport 27 wells Toledo Bend North 5 wells Toledo Bend South 10 wells 46 (29.7 net) H Horizontal Wells Planned…
  21. Q1 2011 Earnings Call – Comstock Resources Inc. – slide 21
    S tth T Sout Texas R Region i Eagle Ford Shale 2 wells Las Hermanitass Mustang Island Faandango Javvelina B ll Ranch Ball R h Drilled 2 wells (2.0 net net)) in 2011 s 1st Q. 2011s 22
  22. Q1 2011 Earnings Call – Comstock Resources Inc. – slide 22
    C Comstocks Ea agle Ford Shale S Program Coates 1H (538 BOE/day) NWR 1H (419 BOE/day) Carlson 1H (585 BOE/day) Gross Acres 21,000 Net Acres 18,000 RTH 1H (496 BOE/day) Well Spacing 80 Acres Per Well 400 MBOE…
  23. Q1 2011 Earnings Call – Comstock Resources Inc. – slide 23
    2011 Drilling D illi Program P in millions Capital Expenditures 610 Gross WI Net 534 Field Bud dget Wells Wells East Texas/North Louisiana: 345 Logansport 184.6 27 19.3 Mansfield 7.5 3 0.7 Toledo o edo Bend e d North ot…
  24. Q1 2011 Earnings Call – Comstock Resources Inc. – slide 24
    I t Internal l Funding F di off Cap C E Ex in millions 2011 Amounts Internal Funding Spending are Estimated 1,904 1,916 Internal Funding Spp g 640 pending 1,306 520 1,264 938 2008-2010 20 008-2010…
  25. Q1 2011 Earnings Call – Comstock Resources Inc. – slide 25
    2 2011 O tl k Outlook St Strong production d ti growth g th expected t d iin 2011 We expect productiion to grow by 26% - 32% in 2011 Carryover of 35 (23.4 (2 net ) 2010 Haynesville shale wells are driving production gains Low…

From the store

Browse maps, data & reports in the Shale Experts store