1st Quarter 2025 Highlights The successful results of our step out Western Haynesville well drilled in Freestone County, Texas substantially extended the success we have had in proving up our Western Haynesville acreage. Higher…
Capitalization Bank Credit Facility 3/31/2025 ( in millions) 1.5 Billion Secured Revolving Credit Facility: Cash and Cash Equivalents 33 2 billion borrowing base Revolving Credit Facility 510 (reaffirmed in April 2025) Secured…
Haynesville Shale Footprint Western Haynesville Legacy Haynesville (700,710 gross/520,298 net) (400,594 gross/302,075 net) Harrison Bossier Webster Caddo Bienville Panola Red Rusk De Soto River Freestone…
Drilling Inventory As of March 31, 2025 Haynesville Operated Non-Operated Total Lateral Length Gross Net Gross Net Gross Net WI Net Mft Avg Net ft Up to 5,000 ft 38 31 278 38 316 69 318 4,618 5,000 ft to 8,500 ft 183 138 98 17 281…
Lateral Lengths Average Lateral Length (feet) Legacy Haynesville Western Haynesville Wells that reached Total Depth Uncompleted wells are estimated 11
2025 Q1 Drilling Results Louisiana Harrison Bossier Webster Caddo Bienville Panola Red River De Soto Texas Sabine Legacy Haynesville 13 operated wells were turn to sales with an average lateral length of…
2025 Q1 Drilling Results One operated well was turned to sales with a lateral length of 10,306 ft. and an IP rate of 41 Mmcf/d Freestone Limestone Leon Robertson Texas Western Haynesville 13
Drilling Efficiency Legacy Haynesville Drilling Days to Total Depth Footage per Day 14
Drilling Efficiency Western Haynesville Drilling Days to Footage Total Depth per Day 15
D&C Costs Legacy Haynesville Drilling Completion (Laterals 8,500 ft.) ( per Lateral Foot) Wells that reached Total Depth Wells turned to Sales 16
D&C Costs Western Haynesville Drilling Completion ( per Lateral Foot) Wells that reached Total Depth Wells turned to Sales 17
Lower GHG Emissions GHG and methane emission intensities down substantially over last three years Deployed optical gas imaging and aircraft leak monitoring technology at 100% of our production sites Natural gas and dual-fuel…
2025 Outlook In 2025 we continue to be focused on building our great asset in the Western Haynesville that will position Comstock to benefit from the longer-term growth in natural gas demand We have four operated rigs drilling in…
Guidance Guidance 2Q 2025 2025 Production (Mmcfe/d) 1,225 - 1,325 1,300 - 1,400 D&C Costs ( in Millions) 250 - 300 1,000 - 1,100 Pinnacle Gas Services ( in Millions) 20 - 40 130 - 150 Acreage ( in Millions) 2 - 5 15 - 20 Expenses…
Natural Gas Hedges (Mmcf/d) /Mmbtu (Mmcf/d) /Mmbtu 2025 Total Swaps 545 3.48 2026 Total Swaps 320 3.51 Q1 695 Collars 150 3.50 x 3.80 Q1 780 Collars 460 3.50 x 4.35 2025 Total Swaps 545 3.48 2026 Total Swaps 320 3.51 Collars…
Non-GAAP Financial Measures Adjusted Net Income Quarter Ended March 31, in thousands except per share amounts 2025 2024 Net income (loss) (115,393) (14,474) Unrealized loss (gain) from derivative finacial instruments 322,380 8,688…
Non-GAAP Financial Measures Operating Cash Flow Quarter Ended March 31, in thousands 2025 2024 Net income (loss) (115,393) (14,474) Reconciling items: Deferred income taxes (143,276) (8,287) Depreciation, depletion and…
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