Comstock Resources reports Q1 adjusted EPS 18c, consensus 16c

Reports Q1 revenue $512.85M, consensus $412.67M. The company said, “Natural gas prices improved substantially in the first quarter of 2025 and Comstock realized $3.58 per Mcf before hedging and $3.52 per Mcf after hedging for its natural gas production of 115 Bcf in the quarter…Comstock’s production cost per Mcfe in the first quarter averaged $0.83 per Mcfe, which was comprised of $0.37 for gathering and transportation costs, $0.30 for lease operating costs, $0.10 for production and other taxes and $0.06 for cash general and administrative expenses. Comstock’s unhedged operating margin was 77% in the first quarter of 2025 and 76% after hedging.”