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Comstock Resources To Increase Haynesville Drilling Activity in 2025
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As part of it's Q4 results. Comstock provided us with it's 2025 forecast.
2025 Outlook
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Increased Rig Activity:
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Raising rig count from 5 to 7, focusing on Western Haynesville
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Planned Capex:
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$1.0B–$1.1B for development/exploration
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$130M–$150M on midstream investments (funded via partnership)
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Target: 46 operated wells drilled & turned to sales
Full-Year 2024 Financials
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Production: 527.8 Bcfe (flat YoY)
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Total Sales (incl. hedging): $1.26B
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Operating Cash Flow: $675.2M
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Net Loss: ($218.8M) or ($0.76/share)
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Adjusted Net Loss (non-GAAP): ($69M) or ($0.24/share)
Production & Operations
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Cost Efficiency:
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Production costs down to $0.72/Mcfe in Q4 (vs. $0.81 in Q4 2023)
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Unhedged Operating Margin: 69% in Q4, 61% for the year
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Well Performance:
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48 operated wells turned to sales in 2024
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Western Haynesville wells had IP rates of ~40 MMcf/day
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