Why Invest in Comstock Pure-Play One of the largest producers in the Haynesville, a premier natural gas basin with Haynesville Leader direct access to the high value Gulf Coast markets and LNG corridor Deleveraging Free Expect to…
A Leading Haynesville Operator Comstock Resources overview Haynesville / Bossier shale Haynesville Shale Significant Scale in the Haynesville Harrison Bossier 372,000 Haynesville / Bossier net acres Caddo Bienville Robust…
Drilling Inventory Average lateral length of location inventory is 8,520 feet Increased by 25% from average lateral length of 6,840 feet at end of 2020 Over 25 years of drilling based on 2022 activity Haynesville Operated…
Drilling Statistics Average Lateral Length (feet) 6
Recent Drilling Results Bossier Completed 15 operated wells (average lateral length of 10,115 ft.) with average IP rate of 29 Mmcf/d 9 12 11 13 8 7 10 Bienville LL Turned To IP Well Name (feet) Sales (Mmcf/d) 1 BSMC LA 5-8-17…
Favorable Natural Gas Supply Demand Dynamics As of 6-10-22 Long-term price support expected from continued sector capital discipline, increased power generation demand, long- Favorable term industrial demand and continued Supply &…
2021 Financial Results in millions except per share and unit amounts Production (MMcfe/d) EBITDAX Cash Flow Adjusted Net Income 1,360 1,120 908 1,257 303 846 723 521 614 468 122 287 206 302 50 29 2018 2019 2020…
Natural Gas Price Realizations Per Mcf 1Q 2021 2Q 2021 3Q 2021 4Q 2021 1Q 2022 High margins supported by NYMEX Settlement Month Average 2.69 2.83 4.01 5.83 4.95 NYMEX Differential 0.17 (0.24) (0.22) (0.61) (0.40) gas marketing…
2022 Q1 Unhedged Cash Margin and Profits Per Mcfe Cash Margin per Mcfe Pre-Tax Profits per Mcfe 5.00 3.65 (73%) 2.97 NYMEX Gas Price 4.00 2.65 (66%) 1.97 (Per Mcf) 3.00 1.65 (55%) 0.97 2.50 1.15 (46%) 0.47 (Per Mcfe)…
Cost Structure Drives Best-in-Class EBITDAX Margin Best-in-class cost structure of gas producers / Mcfe Best-in-class margin as compared to both Permian and gas-weighted names Unhedged EBITDAX(1) Margin (%) Oil Peers…
Operating Cost Structure Offsets Legacy Interest Cost Cost structure of gas producers including interest Interest costs per Mcfe has decreased by 23% as compared to 2021 Q1 / Mcfe Source: Public filings. Based on Q122…
Improving Credit Profile Successfully raised 1 billion of equity and debt throughout a volatile 2020 207 million common equity in May to redeem the Series A preferred, eliminated 21 million Prudently of annual distributions Managing…
Balance Sheet Capitalization Bank Credit Facility ( in millions) 3/31/2022 Cash and Cash Equivalents 12 Senior Secured Revolving Credit Facility: Revolving Credit Facility 150 1.4 billion borrowing base Secured Debt 150 reaffirmed…
Strong Focus on ESG Comstock strives to maintain sustainable and safe business practices and is committed to conducting business in a responsible manner that protects the environment along with the health, safety and security of…
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…
Natural Gas Powered Completions Comstock has partnered with BJ Energy Solutions and has deployed BJs next generation fracturing fleet which is fueled by 100% natural gas in its Haynesville shale development program BJs TITAN solution…
Hedging Program Comstock has 50% of its oil and gas production hedged in 2022 (Mmcf/d) /Mmbtu 2022 Total Swaps 320 2.68 Q2 735 Collars 415 2.61 x 3.83 2022 Total Swaps 320 2.68 Q3 685 Collars 365 2.62 x 3.90 2022 Total…
Non-GAAP Financial Measures Adjusted Net Income Operating Cash Flow Quarter Ended March 31, Quarter Ended March 31, in thousands except per share amounts 2022 2021 in thousands 2022 2021 Net loss (115,739) (138,440) Net income (loss)…
Non-GAAP Financial Measures Adjusted Net Income Operating Cash Flow Year Ended December 31, Year Ended December 31, in thousands except per share amounts 2021 2020 in thousands 2021 2020 Net income (loss) (259,225) (83,413) Net…
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