Comstock Resources Q3 profit falls to $22 million as production rises 9%
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.
Key points
- 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.
The filing
Written by AI on Nov 7, 2026, 11:17 PM ET, from this filing only.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.