CRK

EX-99.1

2 crk-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

5300 Town and Country Blvd., Suite 500

Frisco, Texas 75034

Telephone: (972) 668-8834

Contact: Ron Mills

VP of Finance and Investor Relations

Web Site: www.comstockresources.com

NEWS RELEASE

For Immediate Release

COMSTOCK RESOURCES, INC. REPORTS

FIRST QUARTER 2026 FINANCIAL AND OPERATING RESULTS

FRISCO, TEXAS, May 5, 2026 – Comstock Resources, Inc. ("Comstock" or the "Company") (NYSE; NYSE Texas: CRK) today reported financial and operating results for the quarter ended March 31, 2026.

Highlights of 2026's First Quarter

• First quarter 2026 financial results:

• Natural gas and oil sales, including realized hedging losses, were $339 million for the quarter.

• Operating cash flow was $192 million or $0.66 per share.

• Adjusted EBITDAX for the quarter was $251 million.

• Adjusted net income was $44 million or $0.15 per share for the quarter.

• Turned six Western Haynesville wells to sales in the first quarter with an average lateral length of 10,874 feet and an average per well initial production rate of 29 MMcf per day.

• Turned ten Legacy Haynesville wells to sales during the first quarter with an average lateral length of 12,312 feet and an average per well initial production rate of 31 MMcf per day.

Financial Results for the Three Months Ended March 31, 2026

Comstock's natural gas and oil sales in the first quarter of 2026 were $338.6 million (including realized hedging losses of $80.4 million). Operating cash flow (excluding changes in working capital) generated in the first quarter of 2026 was $191.9 million, and net income for the first quarter was $112.5 million or $0.38 per diluted share. The net income in the quarter included a pre-tax $82.8 million unrealized gain on hedging contracts held for price risk management resulting from the change in future natural gas prices since the fourth quarter of 2025. Excluding this item, exploration expense and gain from sale of assets, adjusted net income for the first quarter of 2026 was $44.5 million, or $0.15 per diluted share.

Comstock's production cost per Mcfe in the first quarter averaged $0.93 per Mcfe, which was comprised of $0.43 for gathering and transportation costs, $0.29 for lease operating costs, $0.10 for production and other taxes and $0.11 for cash general and administrative expenses. Comstock's unhedged operating margin was 78% in the first quarter of 2026 and 73% after hedging.

Drilling Results

Comstock drilled 17 (15.3 net) operated horizontal Haynesville/Bossier shale wells in the first quarter of 2026, which had an average lateral length of 10,714 feet. Comstock turned 13 (11.7 net) operated wells to sales in the first quarter of 2026.

Since its last operational update in February 2026, Comstock has turned 16 (14.6 net) operated Haynesville/Bossier shale wells to sales. These wells had initial production rates that averaged 30 MMcf per day. The completed lateral length of these wells averaged 11,773 feet.

Included in the wells turned to sales were six more successful Western Haynesville wells:

Well

Vertical

Depth

(feet)

Completed

Lateral (feet)

Initial

Production

Rate (MMcf

per day)

Hutto Rodell #1

17,408

8,261

20

Bumpurs BHGJ #1

16,074

12,341

32

Bumpurs NMH #1

14,272

11,325

32

Pollard MBK #1

15,850

11,249

25

Pollard TFG #1

14,427

12,710

31

Kiker BK #1

17,956

9,355

35

Earnings Call Information

Comstock has planned a conference call for 10:00 a.m. Central Time on May 6, 2026, to discuss the first quarter 2026 operational and financial results. Investors wishing to listen should visit the Company's website at www.comstockresources.com for a live webcast. Investors wishing to participate in the conference call telephonically will need to register at:

https://register-conf.media-server.com/register/BIfdab657d67b245688283195b41fda6fb.

Upon registering to participate in the conference call, participants will receive the dial-in number and a personal PIN number to access the conference call. On the day of the call, please dial in at least 15 minutes in advance to ensure a timely connection to the call. The conference call will also be broadcast live in listen-only mode and can be accessed via the website URL: https://edge.media-server.com/mmc/p/p77w7mi4.

If you are unable to participate in the original conference call, a web replay will be available for twelve months beginning at 1:00 p.m. CT on May 6, 2026. The replay of the conference can be accessed using the webcast link: https://edge.media-server.com/mmc/p/p77w7mi4.

This press release may contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein. Although the Company believes the expectations in such statements to be

8-K

false000002319400000231942026-02-112026-02-110000023194crk:NewYorkStockExchangeTexasMember2026-02-112026-02-11

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 11, 2026

COMSTOCK RESOURCES, INC.

(Exact name of Registrant as Specified in Its Charter)

Nevada

001-03262

94-1667468

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

5300 Town and Country Blvd. Suite 500

Frisco, Texas

75034

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: (972) 668-8800

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.50 (per share)

CRK

New York Stock Exchange

CRK

New York Stock Exchange Texas

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition. On February 11, 2026, Comstock Resources, Inc. ("Comstock" or the "Company") announced financial results for the quarter ended December 31, 2025. A copy of the press release announcing Comstock's earnings and operating results for this period and other matters is attached hereto as Exhibit 99.1. The earnings press release contains financial measures that are not in accordance with generally accepted accounting principles in the United States ("GAAP"). Comstock has provided reconciliations within the earnings release of the non-GAAP financial measures to the most directly comparable GAAP financial measures. The non-GAAP financial measures should be considered in addition to, but not as a substitute for, measures of financial performance prepared in accordance with GAAP that are presented in the earnings release. The information in this Form 8-K and the Exhibit attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or otherwise subject to the liability of that section, and shall not be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. Item 9.01 Financial Statements and Exhibits.

Exhibit No.

Description

99.1

Press Release dated February 11, 2026

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

COMSTOCK RESOURCES, INC.

Date:

February 11, 2026

By:

/s/ ROLAND O. BURNS

Roland O. Burns President and Chief Financial Officer

8-K

false00000231940000023194crk:NewYorkStockExchangeTexasMember2025-11-032025-11-0300000231942025-11-032025-11-03

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 3, 2025

COMSTOCK RESOURCES, INC.

(Exact name of Registrant as Specified in Its Charter)

Nevada

001-03262

94-1667468

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

5300 Town and Country Blvd. Suite 500

Frisco, Texas

75034

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: (972) 668-8800

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.50 (per share)

CRK

New York Stock Exchange

CRK

New York Stock Exchange Texas

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition. On November 3, 2025, Comstock Resources, Inc. ("Comstock" or the "Company") announced financial results for the quarter ended September 30, 2025. A copy of the press release announcing Comstock's earnings and operating results for this period and other matters is attached hereto as Exhibit 99.1. The earnings press release contains financial measures that are not in accordance with generally accepted accounting principles in the United States ("GAAP"). Comstock has provided reconciliations within the earnings release of the non-GAAP financial measures to the most directly comparable GAAP financial measures. The non-GAAP financial measures should be considered in addition to, but not as a substitute for, measures of financial performance prepared in accordance with GAAP that are presented in the earnings release. The information in this Form 8-K and the Exhibit attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or otherwise subject to the liability of that section, and shall not be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. Item 9.01 Financial Statements and Exhibits.

Exhibit No.

Description

99.1

Press Release dated November 3, 2025

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

COMSTOCK RESOURCES, INC.

Date:

November 3, 2025

By:

/s/ ROLAND O. BURNS

Roland O. Burns President and Chief Financial Officer