Skip to main content 3Q 2022 Earnings Presentation – Comstock Resources Inc. | Shale Experts
Loading...
Pm

3Q 2022 Earnings Presentation – Comstock Resources Inc.

Comstock Resources Inc. · Nov 2, 2022 · 15 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 2022 Earnings Presentation – Comstock Resources Inc. – slide 1
    NYSE:CRK 3rd Quarter 2022 Results NOVEMBER 1, 2022
  2. 3Q 2022 Earnings Presentation – Comstock Resources Inc. – slide 2
    3rd Quarter 2022 Highlights Generated highest quarterly operating cash flow in the Company's history of 533 million or 1.92 per diluted share Free cash flow from operations was 286 million in the quarter Retired 250 million debt and…
  3. 3Q 2022 Earnings Presentation – Comstock Resources Inc. – slide 3
    Q3 2022 Financial Results in millions except per share and unit amounts Bakken PF Production Free Cash Flow 286 4 90 2021 2022 4
  4. 3Q 2022 Earnings Presentation – Comstock Resources Inc. – slide 4
    Natural Gas Price Realizations Per Mcf 3Q 2021 4Q 2021 1Q 2022 2Q 2022 3Q 2022 High margins supported by NYMEX Settlement Month Average 4.01 5.83 4.95 7.17 8.20 NYMEX Differential (0.22) (0.61) (0.40) (0.24) (0.48) gas marketing…
  5. 3Q 2022 Earnings Presentation – Comstock Resources Inc. – slide 5
    Low Operating Costs / High Margins Operating Costs Per Mcfe / EBITDAX Margin 6 6
  6. 3Q 2022 Earnings Presentation – Comstock Resources Inc. – slide 6
    2022 Drilling Program ( in millions) Nine Months 2022 Haynesville Drilling Program Haynesville Bossier Total Gross Net Gross Net Gross Net Nine Third Quarter Months Operated - 2022 2022 Drilled 50 40.9 2 1.6 52 42.5 ( in…
  7. 3Q 2022 Earnings Presentation – Comstock Resources Inc. – slide 7
    Balance Sheet Capitalization Bank Credit Facility ( in millions) 9/30/2022 Cash and Cash Equivalents 39 Senior Secured Revolving Credit Facility: Revolving Credit Facility 100 1.4 billion borrowing base Secured Debt 100 reaffirmed…
  8. 3Q 2022 Earnings Presentation – Comstock Resources Inc. – slide 8
    Drilling Statistics Average Lateral Length (feet) 9
  9. 3Q 2022 Earnings Presentation – Comstock Resources Inc. – slide 9
    D&C Costs (Laterals 8,000 ft.) 1,506 ( per Lateral Foot) 1,446 1,405 1,262 1,215 1,124 1,026 1,040 941 808 1,021 764 784 673 569 643 565 597 425 451 457 450 478 397 2017 2018 2019 2020 2021 2022 Q1 2022 Q2 2022…
  10. 3Q 2022 Earnings Presentation – Comstock Resources Inc. – slide 10
    3rd Quarter Drilling Results Harrison Bossier 15 17 Webster 16 Completed 17 operated wells Caddo (average lateral length of 9,899 ft.) with average IP rate of 29 Mmcf/d Bienville 8 10 9 11 LL Turned To IP Well Name (feet)…
  11. 3Q 2022 Earnings Presentation – Comstock Resources Inc. – slide 11
    2022 Outlook On track to generate substantial free cash flow in 2022 First priority of free cash flow is to retire debt Retired 250 million of our revolver debt in the third quarter Expected to repay the remaining 100 million of…
  12. 3Q 2022 Earnings Presentation – Comstock Resources Inc. – slide 12
    Guidance Guidance 4Q 2022 2022 Production (Mmcfe/d) 1,420 - 1,520 1,390 - 1,450 D&C Costs ( in Millions) 225 - 275 925 - 975 2 Expenses (/Mcfe) - Lease Operating (/Mcfe) 0.18 - 0.23 0.19 - 0.24 Gathering & Transportation…
  13. 3Q 2022 Earnings Presentation – Comstock Resources Inc. – slide 13
    Hedging Program Comstock…
  14. 3Q 2022 Earnings Presentation – Comstock Resources Inc. – slide 14
    Non-GAAP Financial Measures Adjusted Net Income Quarter Ended September 30, Nine Months Ended September 30, in thousands except per share amounts 2022 2021 2022 2021 Net income (loss) 351,185 (292,717) 607,974 (615,215) Unrealized…
  15. 3Q 2022 Earnings Presentation – Comstock Resources Inc. – slide 15
    Non-GAAP Financial Measures Operating Cash Flow Quarter Ended September 30, Nine Months Ended September 30, in thousands 2022 2021 2022 2021 Net income (loss) 355,596 (288,306) 621,063 (602,126) Reconciling items: Loss on early…

From the store

Browse maps, data & reports in the Shale Experts store