COMSTOCK RESOURCES, INC. (NYSE:CRK) Files An 8-K Results of Operations and Financial Condition
Item 2.02
Results of Operations and Financial Condition
On February 21, 2019, Comstock Resources, Inc. (“Comstock” or the “Company”) announced financial results for the three months ended December 31, 2018, for the period August 13 through December 31, 2018 (the “Successor” period), for the period January 1, 2018 through August 13, 2018 (“Predecessor” partial year period) and for the Predecessor three months and twelve months ended December 31, 2017.A copy of the press release announcing Comstock’s earnings and operating results for these Successor and Predecessor periods and other matters is attached hereto as Exhibit 99.1.`
The earnings press release contains financial measures that are not in accordance with generally accepted accounting principles in the United States (“GAAP”).Comstock has provided reconciliations within the earnings release of the non-GAAP financial measures to the most directly comparable GAAP financial measures. Operating cash flow is presented in the earnings release because management believes it to be useful to investors as a common alternative measure of cash flows. EBITDAX is presented in the earnings release because management believes that EBITDAX, which represents Comstock’s results from operations before interest, income taxes, and certain non-cash items, including depreciation, depletion and amortization and exploration expense, is a common alternative measure of operating performance used by certain investors and financial analysts. The non-GAAP financial measures described above should be considered in addition to, but not as a substitute for, measures of financial performance prepared in accordance with GAAP that are presented in the earnings release.
The information in this Form 8-K and the Exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liability of that section, and shall not be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
COMSTOCK RESOURCES INC Exhibit
EX-99.1 2 crk-ex991_6.htm EX-99.1 crk-ex991_6.htm Exhibit 99.1 5300 Town and Country Blvd.,…
To view the full exhibit click here
About COMSTOCK RESOURCES, INC. (NYSE:CRK)
Comstock Resources, Inc. is an energy company engaged in the acquisition, exploration, development and production of oil and natural gas in the United States. The Company operates in the segment of exploration and production of oil and natural gas. The Company’s oil and gas operations are concentrated in Texas and Louisiana. Its operations are focused in two operating areas: East Texas/North Louisiana and South Texas. The Company’s properties in the East Texas/North Louisiana region include approximately 80,660 acres in the Haynesville or Bossier shale formations. The Company’s Eagleville field includes approximately 30,220 acres located in the oil window of the Eagle Ford shale in South Texas. The Company owns interests in over 1,575 producing oil and natural gas wells, and operates over 950 of these wells. The Company owns interests in over 20 wells in the Rosita field, located in Duval County, Texas.
