Quarterly ResultJul 29, 2026, 04:18 PM
Comstock Sells Pinnacle Stake for $600M; Q2 Net Income $8.8M, EPS $0.03
AI Summary
Comstock Resources reported its Q2 2026 financial and operating results, including net income of $8.8 million ($0.03 per share) and natural gas and oil sales of $331.6 million. A significant highlight was the sale of a 27% noncontrolling common equity interest in Pinnacle Gas Services LLC for $600 million, with proceeds used to retire Pinnacle's debt. The company also saw a 16% increase in production over the first quarter and successfully brought 17 new wells online.
Key Highlights
- Sold a 27% noncontrolling common equity interest in Pinnacle Gas Services LLC for $600 million.
- Q2 2026 net income available to the Company was $8.8 million, or $0.03 per diluted share.
- Q2 2026 natural gas and oil sales, including hedging gains, totaled $331.6 million.
- Total production for Q2 2026 was 113.1 Bcfe, a 16% increase over Q1 2026.
- Turned 17 operated Haynesville/Bossier shale wells to sales with average initial production of 31 MMcf per day.
- Operating cash flow before changes in working capital for Q2 2026 was $188.5 million.
- Production cost per Mcfe in Q2 2026 averaged $0.77.
Price Impact
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