NYSEEnergyOil & Gas Exploration & ProductionS&P SmallCap 600
$13.41
+0.09 (+0.68%)
Close of Nov 06, 2026 · end-of-day data
CRK 8-K filings, explained
Every material Form 8-K Comstock Resources has filed with the SEC since February 13, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Comstock Resources reported third quarter 2026 results, with production up 9% from a year earlier and natural gas and oil sales including hedging rising to $359.3 million. Net income available to the Company fell to $22.3 million from $111.1 million, and total revenues fell to $384.4 million from $447.4 million. The company also agreed on November 4, 2026 to sell non-operated interests to SOCAR for $1.65 billion in cash, expected to close by year end, and extended its bank credit facility maturity to November 15, 2028.
Net income available to the Company was $22.3 million, or $0.08 per diluted share, versus $111.1 million, or $0.40 per diluted share, in the third quarter of 2025.
Production was 122.4 Bcfe, up 9% from the third quarter of 2025; natural gas and oil sales including hedging were $359.3 million versus $335.0 million.
Gas services revenue fell to $64.5 million from $141.3 million, and total revenues and other operating income fell to $384.4 million from $447.4 million.
SOCAR purchase price is $1.65 billion, with closing expected by year end; the bank credit facility maturity was extended to November 15, 2028.
Comstock Resources reported second quarter 2026 results, with net income available to the company of $8.8 million, or $0.03 per diluted share, down from $124.8 million, or $0.44, a year earlier. Total revenues and other operating income fell to $353.3 million from $470.3 million, although production rose 1% from the prior-year quarter and 16% from the first quarter of 2026.
Net income available to the company was $8.8 million, or $0.03 per diluted share, versus $124.8 million, or $0.44, in Q2 2025
Total revenues and other operating income were $353.3 million, versus $470.3 million in Q2 2025
Production was 113.1 Bcfe, up 16% from Q1 2026 and up 1% from Q2 2025
The company sold a 27% noncontrolling interest in Pinnacle Gas Services for $600 million and used the proceeds to redeem Pinnacle's preferred equity and debt
Comstock Resources reported first-quarter 2026 results on May 5, 2026. Reported net income was $112.5 million, compared with a net loss of $115.4 million a year earlier, and included an $82.8 million unrealized hedging gain. Adjusted net income fell to $44.5 million from $53.8 million, and natural gas and oil sales including hedging losses fell to $339 million from $405 million, while the free cash deficit after acquisitions and divestitures was $223 million.
Net income $112.5 million, or $0.38 per diluted share, vs. a net loss of $115.4 million in Q1 2025; includes an $82.8 million pre-tax unrealized hedging gain
Adjusted net income $44.5 million, or $0.15 per diluted share, vs. $53.8 million, or $0.18, a year earlier
Natural gas and oil sales including hedging were $339 million, vs. $405 million; realized hedging losses were $80.4 million
Operating cash flow $192 million, or $0.66 per share; free cash deficit after acquisitions and divestitures $223 million; conference call at 10:00 a.m. CT on May 6, 2026
Comstock reported fourth quarter 2025 net income of $286.8 million, or $0.97 per diluted share, compared with a net loss of $55.3 million a year earlier. The result was helped by a $292.3 million pre-tax gain on the Shelby Trough sale, while adjusted net income was $46.1 million, or $0.16 per diluted share, flat with the prior-year quarter. The company also plans to raise its 2026 operating rig count from eight to nine.
Q4 2025 total revenues were $789.8 million, up from $366.5 million a year earlier.
Natural gas and oil sales including hedging were $364.0 million, up from $336.1 million.
Adjusted net income was $46.1 million, or $0.16 per diluted share, versus $46.3 million, or $0.16, in Q4 2024.
The company plans to spend $1.4 billion to $1.5 billion on development and exploration in 2026, and $100 million to $150 million on its Western Haynesville midstream system.
Comstock Resources reported third quarter 2025 results, with net income of $118 million ($0.40 per diluted share) compared with a net loss of $25.7 million a year earlier. The result includes a $116.4 million unrealized hedging gain, and adjusted net income was $27.9 million ($0.09 per share), which management attributes largely to higher natural gas prices. The company also said it expects to close the $430 million Shelby Trough sale in December 2025 and use the proceeds to reduce long-term debt.
Total revenues were $449.9 million, up from $304.5 million in the third quarter of 2024.
Natural gas and oil sales including realized hedging gains were $335 million; operating cash flow was $190 million ($0.65 per diluted share).
Adjusted net income was $27.9 million ($0.09 per diluted share), compared with an adjusted net loss of $48.5 million a year earlier.
The $430 million Shelby Trough divestiture, agreed October 10, 2025, is expected to close in December 2025.
Comstock Resources reported second quarter 2025 results on July 30, 2025. Total revenues rose to $470.3 million from $246.8 million a year earlier, and the company attributed the improvement to higher natural gas prices. Net income was $130.7 million ($0.44 per diluted share), including a $231.6 million unrealized hedging gain, while adjusted net income was $40.0 million ($0.13 per diluted share), compared with an adjusted loss of $58.2 million a year earlier.
Total revenues were $470.3 million, up from $246.8 million in the second quarter of 2024.
Average natural gas price was $3.02 per Mcf before hedging, up from $1.65 per Mcf a year earlier.
Adjusted EBITDAX was $259.7 million, compared with $166.7 million in the prior-year quarter.
Management will hold an earnings conference call at 10:00 a.m. Central Time on July 31, 2025.
At its June 3, 2025 annual meeting, Comstock Resources stockholders approved an amendment to the 2019 Long-term Incentive Plan adding 10,000,000 shares, extending the plan through April 6, 2035, and making employees, contract employees and non-employee directors eligible for awards. All five board nominees were re-elected and Ernst & Young LLP was ratified as auditor for 2025.
Amendment adds 10,000,000 shares to the 2019 Plan and extends its term through April 6, 2035
Five directors re-elected, with Jim L. Turner receiving the most withheld votes at 13,775,654
Ernst & Young LLP ratified as independent auditor for fiscal year ending December 31, 2025, with 273,320,295 votes for
About 94% of voting capital stock, or 276,144,309 shares, was present at the meeting, meeting quorum
Comstock Resources reported first-quarter 2025 results on April 30, 2025, with total revenues of $512.9 million, up from $335.8 million a year earlier. The GAAP net loss of $115.4 million ($0.40 per share) included a $322.4 million unrealized loss on hedging contracts tied to higher future natural gas prices; excluding that item and exploration expense, adjusted net income was $53.8 million ($0.18 per diluted share). For shareholders, higher gas prices lifted sales and adjusted profit, but the GAAP loss was much larger than a year earlier.
Natural gas and oil sales including hedging were $405 million, compared with $336 million in the first quarter of 2024.
Net loss was $115.4 million, or $0.40 per share, versus a net loss of $14.5 million, or $0.05 per share, a year earlier.
Adjusted net income was $53.8 million, or $0.18 per diluted share, compared with an adjusted net loss of $8.5 million a year earlier.
Operating cash flow was $239.0 million, or $0.81 per diluted share; on April 29, 2025, the bank group reaffirmed the $2.0 billion borrowing base.
Comstock Resources reported fourth-quarter 2024 results with a GAAP net loss of $55.3 million, compared with net income of $108.4 million a year earlier. The loss reflects a $126.9 million unrealized hedging loss, and adjusted net income rose to $46.3 million, or $0.16 per share, while revenue fell, and the company reported that proved reserves fell to 3.8 Tcfe from 4.9 Tcfe, which shareholders should weigh alongside a planned increase in 2025 drilling spending.
Q4 2024 net loss was $55.3 million, or $0.19 per share, versus net income of $108.4 million, or $0.39 per share, in Q4 2023.
Q4 2024 adjusted net income was $46.3 million, or $0.16 per share, versus $27.9 million, or $0.10 per share, in Q4 2023.
Q4 2024 total revenues were $366.5 million, down from $410.6 million; production was 124.2 Bcfe versus 140.6 Bcfe.
Proved reserves at December 31, 2024 were 3.8 Tcfe, down from 4.9 Tcfe, with 2025 development spending planned at $1.0 billion to $1.1 billion.
Comstock Resources reported a third-quarter 2024 net loss of $25.7 million, or $0.09 per share, compared with net income of $14.7 million, or $0.05 per share, a year earlier. Total revenues fell to $304.5 million from $376.7 million, and the company said weak natural gas prices weighed heavily on results, which matters to shareholders because lower revenue and a loss reduce earnings available to shareholders.
Realized natural gas price averaged $1.90 per Mcf before hedging, versus $2.33 a year earlier.
Adjusted net loss was $48.5 million, or $0.17 per share, compared with adjusted net income of $11.7 million, or $0.04 per share, in the third quarter of 2023.
Natural gas and oil sales including hedging gains were $305.0 million, down from $315.8 million; the bank group reaffirmed the $2.0 billion borrowing base.
Comstock Resources reported a second-quarter 2024 net loss of $123.2 million, or $0.43 per share, compared with a net loss of $45.7 million, or $0.17 per share, a year earlier. Total revenues fell to $246.8 million from $288.2 million as natural gas prices declined, which the company said weighed heavily on results. Adjusted net loss, which excludes an unrealized hedging loss, was $58.2 million, or $0.20 per share.
Q2 2024 net loss of $123.2 million, or $0.43 per share, versus a net loss of $45.7 million, or $0.17 per share, in Q2 2023
Total revenues of $246.8 million, down from $288.2 million a year earlier
Average natural gas price of $1.65 per Mcf before hedging and $2.12 per Mcf after hedging
Company issued $400 million of 6.75% senior notes during the period
Comstock Resources reported a first-quarter 2024 net loss of $14.5 million, or $0.05 per share, compared with net income of $134.5 million, or $0.49 per diluted share, a year earlier. Total revenues fell to $335.8 million from $489.6 million, and the company said continued weak natural gas prices weighed heavily on results, which matters to shareholders because earnings and cash flow both declined sharply.
Total revenues were $335.8 million, down from $489.6 million in the first quarter of 2023.
Net loss was $14.5 million, or $0.05 per share, versus net income of $134.5 million, or $0.49 per diluted share, a year earlier.
Adjusted net loss was $8.5 million, or $0.03 per share; adjusted EBITDAX was $230 million versus $293.5 million.
Average natural gas price was $2.06 per Mcf, down from $2.98, and operating cash flow was $182.0 million versus $254.9 million.
Comstock Resources, Inc. issued $400.0 million of 6.75% senior notes due March 1, 2029, in a private placement dated April 9, 2024. The notes are senior unsecured obligations guaranteed by the company's subsidiaries, which adds debt to the company's balance sheet and carries interest payments until maturity.
Notes: $400.0 million aggregate principal, 6.75% senior notes due March 1, 2029, issued April 9, 2024
Interest of 6.75% per year, paid semi-annually on March 1 and September 1, starting September 1, 2024
Notes are effectively subordinated to secured debt, including borrowings under the bank credit facility
Holders may require repurchase at 101% of principal upon a Change of Control Triggering Event
Comstock Resources completed the previously announced sale of 12,500,000 common shares to Arkoma Drilling L.P. and Williston Drilling L.P. under a March 21, 2024 subscription agreement. The company also signed a second amended and restated registration rights agreement giving the buyers resale registration rights, which could add future shares to the public market.
Shares issued: 12,500,000 common shares, par value $0.50, to Arkoma Drilling L.P. and Williston Drilling L.P.
Closing date: March 25, 2024, under a subscription agreement dated March 21, 2024
Company must file a shelf registration statement within 90 days of the March 25, 2024 agreement to permit public resale of the buyers' shares
The filing does not state the purchase price or total proceeds
Comstock Resources agreed to sell 12,500,000 common shares for about $100.5 million to two Jerry Jones-controlled entities, at $8.036 per share. The company says it will use the proceeds to pay down bank debt incurred for recent Western Haynesville acreage acquisitions, and Jones's stake would rise to about 67% from 65%.
Buyers: Arkoma Drilling L.P. and Williston Drilling L.P., both controlled by majority shareholder Jerry Jones
Price of $8.036 per share, the average closing price for the five trading days ended March 20, 2024
Proceeds to repay bank debt partly used to fund acquisitions of 200,000 net undeveloped acres in the Western Haynesville for $58.7 million
Closing is subject to customary conditions, including an amended and restated registration rights agreement
Comstock Resources reported fourth-quarter 2023 total revenues of $410.6 million, down from $922.4 million a year earlier, as weak natural gas prices weighed on results. Net income was $108.4 million, or $0.39 per share, but it included a $107.3 million unrealized hedging gain; adjusted net income was $27.9 million, or $0.10 per share, versus $287.7 million a year earlier. The company plans to suspend its quarterly dividend until gas prices improve and to cut its operating rigs from seven to five.
Q4 2023 total revenues were $410.6 million, versus $922.4 million in Q4 2022.
Q4 2023 adjusted net income was $27.9 million, or $0.10 per share, versus $287.7 million, or $1.05 per share, a year earlier.
Proved reserves fell to 4.9 Tcfe at December 31, 2023, from 6.7 Tcfe, mainly due to lower gas prices used in the estimate.
For 2024, the company plans to spend $750 million to $850 million on development and exploration and to suspend its dividend until gas prices improve.
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