6.44 0.00 (0.00%)
After hours: 5:38PM EST
|Bid||6.18 x 900|
|Ask||6.53 x 800|
|Day's Range||6.31 - 6.56|
|52 Week Range||4.17 - 10.70|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||9.43|
|Earnings Date||Feb 19, 2020 - Feb 24, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||8.00|
(Bloomberg) -- Dallas Cowboys owner Jerry Jones is doubling down on a forlorn corner of the U.S. shale patch, calling Louisiana’s Haynesville play the best for low-cost hydrocarbons and saying he’s hunting for more acreage there.The billionaire owner of America’s Team is no stranger to contrarian investments. The serial entrepreneur generated enough money in the oil business to buy the National Football League club in 1989 at a time when it was bleeding cash and built it into the world’s most valuable franchise.When the worst crude-price crash in a generation kicked off half a decade ago, explorers shifted to the pancaked layers of oil-soaked rock in the Permian Basin of West Texas and New Mexico for that field’s relatively lower costs. And although it has become the world’s biggest shale patch, Jones is looking elsewhere for growth.“The gas in Haynesville is the best-cost hydrocarbons in the industry,” Jones, 77, said in a telephone interview Tuesday. “My immediate plan is to continue to aggregate long-term reserves to have the most efficient source of natural gas."Covey ParkEarlier this month, Jones confirmed that his Comstock Resources Inc. is in talks to acquire shale gas assets in Louisiana from financially strapped Chesapeake Energy Corp. in a deal that could be valued at more than $1 billion. And in June, in another billion dollar deal, Comstock announced plans to acquire Covey Park Energy LLC, a closely held natural gas company with operations in the Haynesville area.Jones said his long-term plans are to buy up oil and gas assets through Comstock, in which he owns a 73% stake, according to data compiled by Bloomberg.Haynesville, which mostly produces natural gas, has been forlorn due to a nationwide glut of the heating and power plant fuel. The number of rigs drilling wells has steadily dropped over the past decade. The 53 rigs working there is down by more than two-thirds from early 2011, according to Baker Hughes Co.Comstock shares have plunged 95% since July 2014, when crude prices first began to tumble. While rival gas drillers such as Chesapeake have sought to pump more oil, Comstock has pursued a different course, shifting deeper into gas by reducing crude to just 9% of output last year from 39% in 2014.When Comstock announced plans to buy Covey Park, Jones likened the deal to his historic acquisition of the Cowboys, saying he bought when “everything was down and out.”He was still smarting from the Cowboys’ 13-9 loss to the New England Patriots in the wind and rain on Sunday, but said he was looking forward to Thursday’s game against the Buffalo Bills.And despite his disappointment with the Cowboys season so far, he said he’s holding tight to both his team and his oil investments. “I have no plans to sell the Cowboys and I have no plans to sell Comstock.”(Updates with Thanksgiving Day game in penultimate paragraph.)To contact the reporters on this story: Sophie Alexander in New York at firstname.lastname@example.org;David Wethe in Houston at email@example.comTo contact the editors responsible for this story: Pierre Paulden at firstname.lastname@example.org, Steven Crabill, Peter EichenbaumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Comstock Resources (CRK) announces the recent closure of its acquisition of a privately-held company with Haynesville shale properties comprising 3,000 net acres plus 12.7 net future drilling sites.
Both OPEC and the IEA released key reports this week, both of which pointed to some major worries for the oil cartel, yet oil markets seem not to have noticed
Reuters on Wednesday reported that Comstock Resources is in talks to buy Chesapeake Energy Corp's Haynesville shale assets in Louisiana. A deal would come just months after Comstock paid $1.1 billion to buy privately held Covey Park Energy to become the largest operator in the region.
Shale icon Chesapeake is reportedly in talks with Comstock Resources about selling its Haynesville shale assets which could be worth more than 1 billion dollars
Comstock (CRK) delivered earnings and revenue surprises of 21.43% and -4.08%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
Frisco, TX, Nov. 07, 2019 -- Comstock Resources, Inc. ("Comstock" or the "Company") (NYSE: CRK) today reported financial and operating results for the third quarter of 2019..
Investing in hedge funds can bring large profits, but it’s not for everybody, since hedge funds are available only for high-net-worth individuals. They generate significant returns for investors to justify their large fees and they allocate a lot of time and employ complex research processes to determine the best stocks to invest in. A particularly […]
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Comstock Resources, Inc. New York, October 24, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Comstock Resources, Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will...
FRISCO, TEXAS, Oct. 15, 2019 -- Comstock Resources, Inc. (NYSE:CRK) announces its plan to release third quarter 2019 results on November 7, 2019 before the market opens and.
Cowboys owner Jerry defended his approach to the Ezekiel Elliott contract negotiation, and said he’s happy with the result.
Comstock Resources, Inc. (CRK) ("Comstock" or the "Company") today announced that it has appointed Ronald Mills as Vice President of Finance and Investor Relations. Mr. Mills is joining the Comstock's new management team put in place with the Company's recent $2.2 billion acquisition of Covey Park Energy LLC and will assist the Company with the corporate planning, capital markets transactions and investor relations. Mr. Mills brings almost 25 years of financial experience in the energy industry. Prior to joining Comstock, he spent his career at Johnson Rice & Company LLC covering small to mid-cap independent exploration companies. For the past 15 years, he served as senior exploration and production research analyst.
Comstock Resources' (CRK) second-quarter natural gas production, accounting for 91% of the total output, climbs 88% from the same period last year.
Frisco, TX, Aug. 07, 2019 -- COMSTOCK RESOURCES, INC. REPORTSSECOND QUARTER 2019 FINANCIAL AND OPERATING RESULTS FRISCO, TEXAS, August 7, 2019 – Comstock Resources, Inc..