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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 December3on Dec 07, 2012 1:12pm
284 Views
Post# 20699481

RE: CRK

RE: CRK

Well, thank you jginsburg for the kind words!  I guess you don't have any fine tuning to your sense of humour?  Recognizing sarcasm in a dry form?  FAIL!

.

The reason why we are at 33-cents is that the Northern Territory properties are not profitable and the other two mines are propping this company up.  With one of those two mines slated to close at the end of next year, it is a race to get the NT properties profitable. 

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I think this is going to be a particular challenge, since the best ore is that which is closest to the Mill and THAT ore is only NOW being explored [Prospect & Crosscourse].  Oh, I guess we get some help if the low grade stuff from the International Pit can come into the mill by the 3Q as planned.  But with Cash Costs of nearly 1200 per ounce, it is hard for CRK to produce enough cash for all of the development it needs.

 

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