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 in 2024
Every material Form 8-K Comstock Resources filed with the SEC in 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 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.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Comstock Resources filing is on SEC EDGAR ↗. 8-K briefs of other companies →