NYSE:CRK 3rd Quarter 2023 Results OCTOBER 30, 2023
3rd Quarter 2023 Highlights Weak natural gas prices weighed heavily on the third quarter results. Natural gas and oil sales for the quarter were 316 million (1) Cash flow from operations was 167 million or 60 per diluted share…
Western Haynesville Midstream Partnership Comstock is partnering with Quantum Capital Solutions to fund the expansion of its existing Western Haynesville midstream assets Comstock will contribute the Pinnacle gathering and treating…
Q3 2023 Financial Results in millions 5 5
Nine Months 2023 Financial Results in millions 6 6
Low Operating Costs / High Margins Operating Costs Per Mcfe / EBITDAX Margin 8 8
2023 Drilling Program ( in millions) Nine Months 2023 Haynesville Drilling Program Haynesville Bossier Total Gross Net Gross Net Gross Net Third Quarter Nine Months Operated - 2023 2023 Drilled 43 32.6 9 8.7 52 41.3 Turned to…
Balance Sheet Capitalization New Bank Credit Facility ( in millions) 9/30/2023 Cash and Cash Equivalents 20 1.5 Billion Senior Secured Revolving Credit Facility: Revolving Credit Facility 345 2 billion borrowing base (reaffirmed in…
Drilling Inventory Average lateral length of location inventory is 8,949 feet Over 25 years of drilling based on 2023 activity As of September 30, 2023 Haynesville Operated Non-Operated Total Lateral Length Gross Net Gross Net…
Drilling Statistics Average Lateral Length (feet) 12
3rd Quarter Drilling Results Completed 21 operated wells (average lateral length of 10,460 ft.) Bossier with average IP rate of 29 Mmcf/d LL Turned To IP Well Name (feet) Sales (Mmcf/d) Caddo 1 Peters 26-35 1 9,842 07/10/2023 18…
2023 Outlook Focused on proving up our Western Haynesville play and continuing to add to our extensive acreage position Building a great asset in the Western Haynesville that will be well positioned to benefit from the growth in…
Guidance Guidance 4Q 2023 Production (Mmcfe/d) 1,450 - 1,550 D&C Costs ( in Millions) 240 - 280 Infrastructure/Other ( in Millions) 15 - 25 2 Acreage ( in Millions) 30 - 40 Expenses (/Mcfe) - Lease Operating (/Mcfe) 0.24 -…
Hedging Program Building 2024 Hedge Program (Mmcf/d) 2023 Total Swaps Q4 250 Collars 250 3.00 x 10.28 2024 Total Swaps 350 3.55 Q1 350 Collars 2024 Total Swaps 350 3.55 Q2 350 Collars 2024 Total Swaps 350 3.55 Q3…
Non-GAAP Financial Measures Adjusted Net Income Quarter Ended September 30, Nine Months Ended September 30, in thousands except per share amounts 2023 2022 2023 2022 Net income (loss) 14,720 351,185 103,517 607,974 Unrealized (gain)…
Non-GAAP Financial Measures Operating Cash Flow Quarter Ended September 30, Nine Months Ended September 30, in thousands 2023 2022 2023 2022 Net income (loss) 14,720 355,596 103,517 621,063 Reconciling items: Deferred income taxes…
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