Skip to main content 3Q 2021 Investor Presentation – Comstock Resources Inc. | Shale Experts
Loading...
Pm

3Q 2021 Investor Presentation – Comstock Resources Inc.

Comstock Resources Inc. · Nov 2, 2021 · 18 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. 3Q 2021 Investor Presentation – Comstock Resources Inc. – slide 1
    NYSE:CRK 3rd Quarter 2021 Results NOVEMBER 2, 2021
  2. 3Q 2021 Investor Presentation – Comstock Resources Inc. – slide 2
    3rd Quarter 2021 Highlights Free cash flow of 84 million generated in the quarter Adjusted net income of 91 million or 34 per diluted share Production increased 25% to 1,424 Mmcfe per day Revenues of 394 million, 86% higher than…
  3. 3Q 2021 Investor Presentation – Comstock Resources Inc. – slide 3
    Sale of Bakken Shale Properties Bakken Play Williston Basin Selling interest in 442 (68.3 net) Bakken shale non-operated well bores Sales price of 154 million with an October 1, 2021 effective date Expect to close in…
  4. 3Q 2021 Investor Presentation – Comstock Resources Inc. – slide 4
    Q3 2021 Financial Results in millions except per share and unit amounts 2020 Q3 2021 Q3 Oil Production (Mbbls) 354 346 -2% Gas Production (MMcf) 102,560 128,896 26% Production (MMcfe) 104,687 130,968 25% Oil Price (Per Barrel)…
  5. 3Q 2021 Investor Presentation – Comstock Resources Inc. – slide 5
    9 Months 2021 Financial Results in millions except per share and unit amounts Nine Months 2020 2021 Oil Production (Mbbls) 1,168 1,034 -11% Gas Production (MMcf) 341,823 366,272 7% Production (MMcfe) 348,831 372,474 7% Oil Price…
  6. 3Q 2021 Investor Presentation – Comstock Resources Inc. – slide 6
    Hedging Program In the third quarter, Comstock had 70% of its gas production hedged, which decreased the realized gas price to 2.90 per Mcf versus 3.79 per Mcf In the third quarter, Comstock also had 40% of its oil production hedged,…
  7. 3Q 2021 Investor Presentation – Comstock Resources Inc. – slide 7
    Shut-in Production 5.8% of natural gas production was shut-in for offset frac activity in 3rd quarter (% of natural gas production) (MMcf per day) 8 8
  8. 3Q 2021 Investor Presentation – Comstock Resources Inc. – slide 8
    Low Cost Structure Operating Costs Per Mcfe 9 9
  9. 3Q 2021 Investor Presentation – Comstock Resources Inc. – slide 9
    Low Cost Structure Cash G&A Per Mcfe 10 10
  10. 3Q 2021 Investor Presentation – Comstock Resources Inc. – slide 10
    Low Cost Structure DD&A Per Mcfe 11 11
  11. 3Q 2021 Investor Presentation – Comstock Resources Inc. – slide 11
    Balance Sheet Capitalization Bank Credit Facility ( in millions) 9/30/2021 Cash and Cash Equivalents 28 Senior Secured Revolving Credit Facility: Revolving Credit Facility 425 1.4 billion borrowing base Secured Debt 425 reaffirmed…
  12. 3Q 2021 Investor Presentation – Comstock Resources Inc. – slide 12
    Drilling Program Third Quarter 2021 Nine Months 2021 Average Average Lateral Gross WI Net Lateral Gross WI Net ( in millions) (feet) Wells Wells (feet) Wells Wells 2020 wells turned to sales 0.4 - - - 100.2 9,712 18 16.5 2021…
  13. 3Q 2021 Investor Presentation – Comstock Resources Inc. – slide 13
    3rd Quarter Drilling Results Harrison Bossier Completed 15 operated wells 11 12 10 13 (average lateral length of 7,925 ft.) with average IP rate of 22 Mmcf/d Caddo LL Turned To IP Well Name (feet) Sales (Mmcf/d) Bienville 1…
  14. 3Q 2021 Investor Presentation – Comstock Resources Inc. – slide 14
    D&C Costs (Laterals 8,000 ft.) ( per Lateral Foot) 1,506 1,446 1,215 1,026 1,051 1,051 1,016 941 1,021 764 569 661 641 651 565 425 451 457 390 410 365 2017 2018 2019 2020 2021 Q1 2021 Q2 2021 Q3 Completion…
  15. 3Q 2021 Investor Presentation – Comstock Resources Inc. – slide 15
    Certified Natural Gas Partnership Comstock has partnered with MiQ to initiate the independent certification of our natural gas production under the MiQ methane standard for responsibly sourced gas The partnership demonstrates…
  16. 3Q 2021 Investor Presentation – Comstock Resources Inc. – slide 16
    2021 Outlook 2021 drilling program driving 10% production growth and generating substantial free cash flow 2021 operating plan is focused on improving balance sheet, reducing leverage and improving our cost of capital Completed…
  17. 3Q 2021 Investor Presentation – Comstock Resources Inc. – slide 17
    Guidance Guidance 4Q 2021 2 Production (Mmcfe/d) 1,420 - 1,450 % Natural Gas 99% - 100% Development Capital Expenditures (MM) 115 - 135 Leasing Program (MM) 1 - 2 Expenses (/Mcfe) - Lease Operating 019 - 0.23 Gathering &…
  18. 3Q 2021 Investor Presentation – Comstock Resources Inc. – slide 18
    Non-GAAP Financial Measure Reconciliation of Adjusted EBITDAX In thousands 3Q 2021 3Q 2020 9M 2021 9M 2020 EBITDAX: Net Income (Loss) (288,306) (126,492) (602,126) (134,340) Interest Expense 50,259 64,106 171,511 168,917 Income…

From the store

Browse maps, data & reports in the Shale Experts store