Comstock Resources, Inc. (CRK): History, Ownership, Mission, How It Works & Makes Money

Ever wondered about the players shaping the energy sector? Comstock Resources, Inc. (CRK), a leading independent natural gas producer primarily focused on the Haynesville Shale in North Louisiana and East Texas, stands out, but how exactly does it operate and generate revenue?

With natural gas and oil sales reaching $336 million in the fourth quarter of 2024, and operating cash flow at $223 million, Comstock's strategic moves in the Western Haynesville, including expanding its acreage to 518,000 net acres, have positioned it as a key player, but what's the full story behind their success and future plans?

Dive in to discover the history, ownership structure, mission, and operational strategies that drive this company's performance and learn how Comstock plans to invest between $1.0 billion to $1.1 billion in development and exploration projects in 2025, aiming to ramp up drilling activities and capitalize on market opportunities.

Comstock Resources, Inc. (CRK) History

Comstock Resources, Inc. Founding Timeline

Year established

The company was originally founded in 1983.

Original location

The company is headquartered in Frisco, Texas.

Founding team members

While specific founding team members are not detailed in the provided search results, the company's history can be traced back to its initial formation and subsequent leadership.

Initial capital/funding

Details regarding the initial capital or funding at the company's founding in 1983 are not available in the provided search results.

Comstock Resources, Inc. Evolution Milestones

Comstock Resources, Inc. Transformative Moments

• Strategic Shift to Haynesville Shale: A key transformative moment for the company was its strategic decision to focus on the Haynesville Shale. This area is known for its natural gas reserves. This move allowed the company to capitalize on technological advancements in shale gas extraction.
• Acquisitions and Expansions: The company has grown significantly through strategic acquisitions. These expansions have increased its asset base and production capabilities.
• Financial Investments: Investments from figures like Jerry Jones and family have provided financial stability. These investments support the company's operations and strategic initiatives.

To gain more insights into the company's financial standing, you might find this resource helpful: Breaking Down Comstock Resources, Inc. (CRK) Financial Health: Key Insights for Investors

Comstock Resources, Inc. (CRK) Ownership Structure

Comstock Resources, Inc. features a mixed ownership structure, encompassing institutional, insider, and retail investors, which influences its corporate governance and strategic direction.

Comstock Resources, Inc.'s Current Status

Comstock Resources, Inc. is a publicly traded company, meaning its shares are available for purchase on stock exchanges by the general public. It is listed on the New York Stock Exchange (NYSE) under the ticker symbol CRK.

Comstock Resources, Inc.'s Ownership Breakdown

As of December 31, 2024, the ownership of Comstock Resources, Inc. is distributed among various types of shareholders. Here's a breakdown:

Comstock Resources, Inc.'s Leadership

The leadership team is instrumental in guiding the strategic direction and operational execution of the company.

• M. Jay Allison serves as the Chairman and Chief Executive Officer.
• Daniel S. Harrison holds the position of President and Chief Financial Officer.
• James S. Word, III is the Executive Vice President and General Counsel.

For more detailed insights into Comstock Resources' investor profile, you might find this resource helpful: Exploring Comstock Resources, Inc. (CRK) Investor Profile: Who’s Buying and Why?

Comstock Resources, Inc. (CRK) Mission and Values

Comstock Resources, Inc. aims to deliver strong returns through responsible natural gas and oil development, guided by its core values of integrity, safety, and community.

Comstock Resources, Inc.'s Core Purpose

Official mission statement

While an official, stand-alone mission statement for Comstock Resources, Inc. is not explicitly available, their commitment can be inferred from their operational focus and corporate communications. The company's mission is reflected in its strategic objectives:

• Growing production and reserves through exploration, acquisition, and development.
• Maintaining a strong financial position.
• Operating with a focus on safety and environmental responsibility.

Vision statement

Comstock Resources, Inc.'s vision is to be a leading independent energy company, recognized for its operational excellence and financial performance. This involves:

• Expanding its asset base in core operating areas.
• Leveraging technological advancements to improve efficiency.
• Creating long-term value for its shareholders.

Company slogan/tagline

Comstock Resources, Inc. does not have a widely publicized official slogan or tagline. However, their investor presentations and reports emphasize themes such as:

• 'Growth and Value Creation'
• 'Operational Efficiency'
• 'Responsible Development'

For more in-depth information, you can explore: Mission Statement, Vision, & Core Values of Comstock Resources, Inc. (CRK).

Comstock Resources, Inc. (CRK) How It Works

Comstock Resources, Inc. operates as an independent energy company engaged in the acquisition, exploration, development, and production of oil and natural gas, primarily in the Haynesville and Bossier shale plays in East Texas and North Louisiana.

Comstock Resources, Inc.'s Product/Service Portfolio

Comstock Resources, Inc.'s Operational Framework

Comstock Resources focuses on developing its extensive acreage in the Haynesville and Bossier shale formations. Their operations include:

• Acquisition of Leases: Securing rights to explore and develop potential oil and gas reserves.
• Drilling and Completion: Utilizing advanced drilling techniques to access shale gas and oil.
• Production: Extracting and processing natural gas and oil.
• Transportation: Moving the produced resources through pipelines to various delivery points.

These operations are supported by ongoing investments in technology and infrastructure to enhance efficiency and reduce costs. For more insights, check out: Mission Statement, Vision, & Core Values of Comstock Resources, Inc. (CRK).

Comstock Resources, Inc.'s Strategic Advantages

Comstock Resources maintains several strategic advantages in the competitive energy market:

• Strategic Asset Base: The company's primary focus on the Haynesville and Bossier shale plays provides a concentrated and productive asset base.
• Operational Expertise: Comstock has developed considerable expertise in shale drilling and production techniques, optimizing resource extraction.
• Infrastructure: Access to key pipeline infrastructure facilitates the efficient transport and sale of produced natural gas and oil.
• Financial Strategy: Prudent financial management and strategic partnerships support ongoing development and acquisition activities.

These advantages enable Comstock Resources to effectively compete in the energy sector, delivering value to its stakeholders through consistent and efficient operations.

Comstock Resources, Inc. (CRK) How It Makes Money

Comstock Resources, Inc. primarily generates revenue through the exploration, development, production, and sale of oil and natural gas. They focus on shale plays, particularly in the Haynesville Shale in North Louisiana and East Texas.

Comstock Resources, Inc. Revenue Breakdown

While precise revenue breakdowns for the fiscal year 2024 are not yet fully available, we can analyze the general trends and data from previous years to infer the revenue structure. Please note that the percentages provided are estimates based on available information and industry trends.

Comstock Resources, Inc. Business Economics

Comstock Resources' business economics are heavily influenced by natural gas and oil prices, production costs, and hedging strategies. Key aspects include:

• Pricing Strategies: The company employs hedging strategies to mitigate the risk of price volatility, securing future prices for a portion of their production.
• Production Costs: Efficient drilling and completion techniques in the Haynesville Shale are crucial for maintaining profitability. Lowering costs per unit of production enhances their margins.
• Economic Fundamentals: Supply and demand dynamics in the natural gas market significantly impact revenue. Factors such as weather patterns, storage levels, and LNG exports play a vital role.

Comstock Resources, Inc. Financial Performance

Analyzing Comstock Resources' financial performance involves looking at key metrics that reflect the company's operational efficiency and profitability. These metrics include:

• Revenue: Total revenue is primarily driven by the volume of natural gas and oil sold, as well as the prices received.
• Net Income/Loss: This indicates overall profitability, taking into account all revenues, expenses, and other income.
• Operating Cash Flow: A measure of the cash a company generates from its normal business operations.
• Capital Expenditures (CAPEX): Significant investments in drilling and development activities are essential for maintaining and growing production.

For a deeper dive into the financial health of Comstock Resources, Inc., check out: Breaking Down Comstock Resources, Inc. (CRK) Financial Health: Key Insights for Investors

Comstock Resources, Inc. (CRK) Market Position & Future Outlook

Comstock Resources is strategically positioned to capitalize on its natural gas assets, particularly in the Haynesville Shale, with a focus on increasing production and optimizing operational efficiencies. The company's future outlook is closely tied to natural gas prices and its ability to manage costs effectively.

Competitive Landscape

Opportunities & Challenges

Industry Position

Comstock Resources holds a significant position in the Haynesville Shale, known for its high-quality natural gas reserves. The company's strategy revolves around:

• Optimizing drilling and completion techniques to improve well productivity.
• Focusing on cost-efficient operations to maintain profitability in varying price environments.
• Expanding infrastructure to support increased production and transportation.

For more insights into investor activity and company performance, check out: Exploring Comstock Resources, Inc. (CRK) Investor Profile: Who’s Buying and Why?