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Comstock Resources Inc T.CRK.DB


Primary Symbol: CRK

Comstock Resources, Inc. is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of oil and natural gas in the United States. The Company operates through the exploration and production of North American oil and natural gas segment. The Company primarily operates in the Haynesville shale, a natural gas basin located in North Louisiana and East Texas, with economic and geographical proximity to the Gulf Coast markets. The Company is focused on the development of drilling opportunities in the Haynesville and Bossier shales and exploration activities in Western Haynesville play. The Company has approximately 2,959 drilling locations on its Haynesville/Bossier shale acreage, where the Company estimates to have 4.9 trillion cubic feet equivalent (TCFE) of reserve potential. The Company owns interests in approximately 2,478 producing oil and natural gas wells (1,516.7 net) and operates 1,703 of these wells.


NYSE:CRK - Post by User

Comment by play_n_layon Dec 17, 2011 9:01pm
340 Views
Post# 19332394

RE: RE: RE: RE: New Peer Analysis for CRK

RE: RE: RE: RE: New Peer Analysis for CRK

Hi therock a couple of cautionary points in your analysis

1) AVR's cash cost for q3 where 925$/oz this was due to production issues. Cash costs for teh rest of the year where 500-600$/oz. This is their forecasted cash costs and they have done a good job achieving those targets. CRK conversley has continuously missed targets and under achieved.

2) CRK's resources are low grade. If I had to pick a figure I would have to say about 50% are not economocially minable.

The cosmo resource is shapping out to be pretty fantastic. I normally dont get to excited about their drill results but I was a big buyer after they released the drill results that the previous postere refered too.

Overall CRK is undervalued and I am excited to see their production figures and costs when Cosmo comes on line. I do expect

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