COMSTOCK RESOURCES, INC. (NYSE:CRK) Files An 8-K Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition
the “Company”) announced financial results for the three months
and year ended December 31, 2016. A copy of the press release
announcing Comstock’s earnings and operating results for the
three months and year ended December 31, 2016 and other matters
is attached hereto as Exhibit 99.1.
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.
reference into this Item 8.01.
shall not be deemed “filed” for purposes of Section 18 of the
Securities Exchange Act of 1934, nor shall it be deemed
incorporated by reference in any filing under the Securities Act
of 1933, except as shall be expressly set forth by specific
reference in such filing.
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Exhibit 99.1
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Press Release dated February 24, 2017 announcing financial
and operating results for the three months and year ended December 31, 2016 |
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. COMSTOCK RESOURCES, INC. (NYSE:CRK) Recent Trading Information
COMSTOCK RESOURCES, INC. (NYSE:CRK) closed its last trading session down -1.27 at 8.96 with 758,596 shares trading hands.