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Comstock Resources, Inc. Reports Third Quarter 2012 Financial And Operating Results

October 29, 2012

FRISCO, Texas, Oct. 29, 2012 /PRNewswire/ — Comstock Resources, Inc. (“Comstock” or the “Company”) (NYSE: CRK) today reported financial and operating results for the three months and nine months ended September 30, 2012.

Financial Results for the Three Months and Nine Months Ended September 30, 2012

Low natural gas prices continue to adversely impact the Company’s financial results for the third quarter of 2012 as Comstock reported a net loss of $26.0 million or 56 cents per share as compared to net income of $1.3 million or 3 cents per diluted share for the three months ended September 30, 2011. The third quarter of 2012 results include a loss of $2.8 million ($1.8 million after tax or 4 cents per diluted share) from the sale of oil and gas properties and costs incurred in connection with the formation of the Company’s Eagle Ford shale joint venture, and impairments of unevaluated properties of $1.4 million ($0.9 million after tax or 2 cents per diluted share). Results for the three months ended September 30, 2011 included a gain on sale of marketable securities of $2.5 million ($1.6 million after tax or 4 cents per diluted share).

Comstock’s oil production in the third quarter of 2012 increased 238% to 659,000 barrels as compared to 195,000 barrels in 2011′s third quarter. Oil production in the third quarter of 2012, which averaged 7,200 barrels of oil per day, also increased from the 6,400 barrels per day produced in the second quarter of 2012. The Company’s natural gas production decreased 19% to 20 billion cubic feet (“Bcf”) as compared to 25 Bcf in 2011′s third quarter. The decrease is due to the sale of 10 million cubic feet (“MMcf”) per day in May 2012 and declines resulting from the decrease in the Company’s natural gas directed drilling due to the very low natural gas prices in 2012.

Comstock’s average realized natural gas price of $2.46 per Mcf for the third quarter of 2012 was 40% lower than the $4.09 per Mcf realized for the third quarter of 2011. The Company’s average realized oil price for the third quarter of 2012, including hedging gains, was $102.08 per barrel, and was 17% higher than the average price of $87.55 per barrel in the third quarter of 2011. Total oil and gas sales for the third quarter of 2012 decreased by 2% to $117.1 million as compared to 2011′s third quarter sales of $119.4 million. Comstock’s oil revenues in the third quarter of 2012 increased by $50.3 million from the third quarter of 2011. The increase in oil revenues only partially offset the effect of the extraordinarily low natural gas prices, as revenues from natural gas sales decreased by $52.6 million or 51% from the third quarter of 2011. Oil sales composed 57% of total sales in the third quarter of 2012 as compared to only 14% in the third quarter of 2011. Operating cash flow (before changes in working capital accounts) of $70.8 million in the third quarter of 2012 was 17% lower than operating cash flow of $85.5 million for the third quarter of 2011, and EBITDAX, or earnings before interest, taxes, depreciation, depletion, amortization, exploration expense and other noncash expenses, of $86.7 million in the third quarter of 2012 decreased 8% from EBITDAX of $94.2 million in the third quarter of 2011. The lower natural gas prices not only caused revenues, cash flow, EBITDAX and earnings to decline but also resulted in an increase to the Company’s depreciation, depletion and amortization expense in the quarter due to the exclusion of approximately 434 Bcf of the Company’s undeveloped natural gas reserves from proved reserves.

Comstock reported a net loss of $29.4 million or 63 cents per share for the first nine months of 2012 as compared to net income of $7.7 million or 16 cents per diluted share for the nine months ended September 30, 2011. The 2012 results include a net gain of $24.3 million ($15.8 million after tax or 34 cents per diluted share) from the sale of oil and gas properties, which generated net proceeds of $142.9 million, and a gain of $26.6 million ($17.3 million or 37 cents per share) on the sale of marketable securities which generated net proceeds of $37.7 million. The nine months 2012 financial results also include impairments of oil and gas properties and unevaluated leases of $8.0 million ($5.2 million after tax, or 11 cents per diluted share). Results for the nine months ended September 30, 2011 included a gain on sale of marketable securities of $32.2 million ($20.9 million after tax or 46 cents per diluted share), impairments of unevaluated leases of $9.8 million ($6.4 million after tax or 14 cents per share), and a loss on early extinguishment of debt of $1.1 million ($0.7 million after tax or 2 cents per share).

Comstock’s oil production in the first nine months of 2012 of 1.7 million barrels increased by 255% over the oil produced in the first nine months of 2011. Oil comprised 14% of equivalent production during the first nine months of 2012 as compared to only 4% in 2011. Natural gas production of 65 Bcf for the nine months ended September 30, 2012 decreased by 4% from the nine months ended September 30, 2011. Natural gas prices were substantially weaker in the first nine months of 2012 as compared to 2011′s first nine months. Comstock’s average realized natural gas price decreased 42% to $2.37 per Mcf for the first nine months of 2012 as compared to $4.09 per Mcf for the first nine months of 2011. The Company’s average realized oil price for the first nine months of 2012 of $102.30 per barrel, including hedging gains, was 10% above 2011′s average realized price of $92.59. Total oil and gas sales increased by 4% to $332.2 million in the first nine months of 2012 as compared to 2011′s first nine months sales of $319.9 million. Revenues from oil sales of $178.8 million for the nine months ended September 30, 2012 increased by $133.3 million or 293% from the nine months ended September 30, 2011, while revenues from natural gas sales decreased by $121.0 million or 44% from the nine months ended September 30, 2011. Operating cash flow (before changes in working capital accounts) of $198.8 million in the first nine months of 2012 decreased 9% from operating cash flow of $218.8 million in the first nine months of 2011. EBITDAX, or earnings before interest, taxes, depreciation, depletion, amortization, exploration expense and other noncash expenses, decreased 2% to $240.4 million in 2012′s first nine months from 2011′s first nine months EBITDAX of $246.4 million.

2012 Drilling Results

Comstock reported on the results to date of its 2012 drilling program. During the first nine months of 2012, Comstock spent $401.9 million on development and exploration activities, net of amounts the Company received from the Eagle Ford shale joint venture, and $27.4 million for acreage and other acquisition costs. Comstock drilled 56 wells (38.3 net) and had seven wells (4.8 net) drilling at September 30, 2012. On September 30, 2012, the Company’s five operated drilling rigs were all drilling oil wells in South Texas and West Texas as the Company suspended its natural gas drilling operations until natural gas prices improve.

Since the beginning of 2012, the Company has completed 50 oil wells, including 27 vertical Wolfbone wells and one horizontal Wolfcamp shale well in its West Texas region, and 22 wells in the horizontal Eagle Ford shale program in the South Texas region. The 22 Eagle Ford shale wells that were completed had an average per well initial production rate of 638 barrels of oil equivalent (“BOE”) per day. The six new Eagle Ford wells reported on this quarter averaged 816 BOE per day with the Swenson C #1H, the Hill A #3H and the Hubberd #1H in McMullen County having the highest initial production rates at 1,002, 829 and 786 BOE per day, respectively. These wells are being produced under the Company’s restricted choke program and the initial tests were obtained with a 16/64 inch choke. The first 35 wells, which have been producing for more than 90 days, had an average initial production rate of 686 BOE per day. The 30 day per well production rate for these wells averaged 517 BOE per day and the 90 day per well production rate averaged 448 BOE per day, or 65% of the initial 24 hour test rate.

Since closing on the acquisition of acreage in Reeves County in West Texas, Comstock has drilled and completed 20 operated vertical Wolfbone wells and one horizontal Wolfcamp shale well. These vertical wells were drilled to total depths of 11,250 to 12,786 feet and completed with 5 to 11 frac stages. These wells have an average per well initial production rate of 356 BOE per day (79% oil). Of the eight new operated wells reported on in the third quarter, the Ponderosa State 25 #1 and the Jesse James 4 #2 each had an initial production rate of 511 BOE per day. Comstock also participated in five non-operated Wolfbone vertical wells which had an average initial production rate of 350 BOE per day.

Comstock has drilled its first horizontal well, the Monroe 35 #1-H, targeting the Wolfcamp shale formation and the results have been very positive with an initial production rate of 653 BOE per day. The well was completed with fifteen frac stages over a 3,627 foot lateral. Comstock’s second horizontal well targeting the Wolfcamp shale, the Dale Evans 196 #2H, has reached total depth at 14,584 feet with a 3,428 foot lateral and is currently waiting to be completed.

Comstock has planned a conference call for 9:30 a.m. Central Time on October 30, 2012, to discuss the operational and financial results for the third quarter of 2012. Investors wishing to participate should visit the Company’s website at www.comstockresources.com for a live web cast or dial 800-659-1942 (international dial-in use 617-614-2710) and provide access code 67921574 when prompted. If you are unable to participate in the original conference call, a web replay will be available approximately 24 hours following the completion of the call on Comstock’s website at www.comstockresources.com. The web replay will be available for approximately one week. A replay of the conference call will be available beginning at 12:30 p.m. ET October 30, 2012 and will continue until 11:59 p.m. November 6, 2012. To hear the replay, call 888-286-8010 (617-801-6888 if calling from outside the US). The conference call ID number is 22637143.

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 managements 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 reasonable, there can be no assurance that such expectations will prove to be correct.

Comstock Resources, Inc. is an independent energy company based in Frisco, Texas and is engaged in oil and gas acquisitions, exploration and development primarily in Texas and Louisiana. The Company‘s stock is traded on the New York Stock Exchange under the symbol CRK. For additional information, please visit Comstock’s website at www.comstockresources.com.

                                                                                           COMSTOCK RESOURCES, INC.
                                                                                              OPERATING RESULTS
                                                                                   (In thousands, except per share amounts)

                                        Three Months Ended September 30,                  Nine Months Ended September 30,
                                        --------------------------------                  -------------------------------
                                                                    2012            2011                                              2012     2011
                                                                    ----            ----                                              ----     ----

    Oil and gas sales                                                    $117,129                                           $119,422       $332,154  $319,911

    Operating expenses:
    Production taxes                                                        3,856                                                141         10,873     2,230
    Gathering and transportation                                            6,382                                              8,101         21,612    20,340
    Lease operating                                                        15,503                                             12,527         44,200    36,512
    Exploration                                                             1,407                                                447          2,797    10,066
    Depreciation, depletion and
     amortization                                                          99,230                                             77,518        268,410   212,532
    General and administrative                                              8,142                                              8,628         25,973    25,973
    Impairment of oil and gas
     properties                                                                 -                                                  -          5,350         -
    (Gain) loss on sale of oil and gas
     properties                                                             2,794                                                (26)       (24,271)       57
                                                                            -----                                                ---        -------       ---
    Total operating expenses                                              137,314                                            107,336        354,944   307,710
                                                                          -------                                            -------        -------   -------

    Operating income (loss)                                               (20,185)                                            12,086        (22,790)   12,201

    Other income (expenses):
    Interest expense                                                      (17,535)                                            (9,988)       (45,301)  (30,682)
    Gain on sale of marketable
     securities                                                                 -                                              2,484         26,621    32,213
    Other income                                                              153                                                187            675       580
                                                                              ---                                                ---            ---       ---
    Total other income (expenses)                                         (17,382)                                            (7,317)       (18,005)    2,111
                                                                          -------                                             ------        -------     -----

    Income (loss) before income taxes                                     (37,567)                                             4,769        (40,795)   14,312
    Benefit from (provision for) income
     taxes                                                                 11,579                                             (3,460)        11,362    (6,650)
                                                                           ------                                             ------         ------    ------
    Net income (loss)                                                    $(25,988)                                            $1,309       $(29,433)   $7,662
                                                                         ========                                             ======       ========    ======

    Net income (loss) per share:
    Basic                                                                  $(0.56)                                             $0.03         $(0.63)    $0.16
                                                                           ======                                              =====         ======     =====
    Diluted                                                                $(0.56)                                             $0.03         $(0.63)    $0.16
                                                                           ======                                              =====         ======     =====

    Weighted average shares
     outstanding:
    Basic                                                                  46,443                                             46,011         46,414    45,992
                                                                           ======                                             ======         ======    ======
    Diluted                                                                46,443                                             46,011         46,414    45,992
                                                                           ======                                             ======         ======    ======

                                                                       COMSTOCK RESOURCES, INC.
                                                                          OPERATING RESULTS
                                                                            (In thousands)

                                                      Three Months Ended September 30,                    Nine Months Ended September 30,
                                                      --------------------------------                    -------------------------------
                                                                                  2012                        2011                                 2012     2011
                                                                                  ----                        ----                                 ----     ----

    OPERATING CASH FLOW:

    Net income (loss)                                                                           $(25,988)                                  $1,309       $(29,433)   $7,662
    Reconciling items:
    Deferred income taxes                                                                        (11,567)                                   3,972        (11,151)    6,593
    Depreciation, depletion and amortization                                                      99,230                                   77,518        268,410   212,532
    Impairment of oil and gas properties                                                               -                                        -          5,350         -
    Dry hole costs and leasehold impairments                                                       1,370                                      365          2,685     9,819
    Loss (gain) on sale of assets                                                                  2,794                                   (2,510)       (50,892)  (32,156)
    Debt issuance cost and discount amortization                                                   1,586                                      948          3,689     3,351
    Stock-based compensation                                                                       3,329                                    3,946         10,189    10,958
                                                                                                   -----                                    -----         ------    ------
    Operating cash flow                                                                           70,754                                   85,548        198,847   218,759
    Excess income taxes from stock-based compensation                                                 11                                        -          1,681       612
    (Increase) decrease in accounts receivable                                                    (9,785)                                   1,673          1,826    (4,958)
    (Increase) decrease  in other current assets                                                    (962)                                  10,729         (5,059)    2,275
    Increase in accounts payable and accrued expenses                                             23,782                                    1,697         28,403       861
                                                                                                  ------                                    -----         ------       ---
    Net cash provided by operating activities                                                    $83,800                                  $99,647       $225,698  $217,549
                                                                                                 =======                                  =======       ========  ========

    EBITDAX:

    Net income (loss)                                                                           $(25,988)                                  $1,309       $(29,433)   $7,662
    Interest expense                                                                              17,535                                    9,988         45,301    30,682
    Income tax expense (benefit)                                                                 (11,579)                                   3,460        (11,362)    6,650
    Depreciation, depletion and amortization                                                      99,230                                   77,518        268,410   212,532
    Exploration                                                                                    1,407                                      447          2,797    10,066
    Impairment of oil and gas properties                                                               -                                        -          5,350         -
    Loss (gain) on sale of assets                                                                  2,794                                   (2,510)       (50,892)  (32,156)
    Stock-based compensation                                                                       3,329                                    3,946         10,189    10,958
                                                                                                   -----                                    -----         ------    ------
    EBITDAX                                                                                      $86,728                                  $94,158       $240,360  $246,394
                                                                                                 =======                                  =======       ========  ========

                              As of September 30,
                              -------------------
                                             2012            2011
                                             ----            ----

    BALANCE SHEET DATA:

    Cash and cash equivalents                         $2,569          $4,544
    Marketable securities                             15,072          31,707
    Derivative financial
     instruments                                      10,823               -
    Other current assets                              59,565          53,477
    Property and equipment,
     net                                           2,546,024       2,090,554
    Other                                             23,786          15,863
                                                      ------          ------
    Total assets                                  $2,657,839      $2,196,145
                                                  ==========      ==========

    Accounts payable and
     accrued expenses                               $200,086        $153,352
    Long-term debt                                 1,238,809         746,774
    Deferred income taxes                            190,784         223,237
    Other non-current
     liabilities                                      16,846           9,649
    Stockholders' equity                           1,011,314       1,063,133
                                                   ---------       ---------
    Total liabilities and
     stockholders' equity                         $2,657,839      $2,196,145
                                                  ==========      ==========

                                                                                                                                                                        COMSTOCK RESOURCES, INC.
                                                                                                                                                                       REGIONAL OPERATING RESULTS
                                                                                                                                                                 (In thousands, except per unit amounts)

                                                                                                                            For the Three Months Ended September 30, 2011
                                                       For the Three Months Ended September 30, 2012
                                                       ---------------------------------------------
                                      East Texas/                                                South              West                                               Other                             Total              East Texas/          South         Other       Total
                                         North                                                   Texas             Texas                                                                                                       North             Texas
                                       Louisiana                                                                                                                                                                             Louisiana
                                       ---------                                                                                                                                                                             ---------
    Oil production (Mbbls)                             22                                                  457               172                                                  8                                 659                      26            163           6           195
    Gas production (MMcf)                          17,633                                                1,937               202                                                480                              20,252                  21,710          2,714         633        25,057
    Total production (MMcfe)                       17,770                                                4,677             1,235                                                526                              24,208                  21,862          3,691         671        26,224

    Oil sales                                      $2,103                                              $45,923           $15,211                                               $776                             $64,013                  $1,963        $14,520        $543       $17,026
    Hedging gains                                       -                                                2,501               792                                                  -                               3,293                       -              -           -             -
                                                      ---                                                -----               ---                                                ---                               -----                     ---            ---         ---           ---
    Total oil, including hedging                    2,103                                               48,424            16,003                                                776                              67,306                   1,963         14,520         543        17,026
    Natural gas sales                              41,342                                                5,680             1,076                                              1,725                              49,823                  86,075         13,138       3,183       102,396
                                                   ------                                                -----             -----                                              -----                              ------                  ------         ------       -----       -------
    Total oil and gas sales                       $43,445                                              $54,104           $17,079                                             $2,501                            $117,129                 $88,038        $27,658      $3,726      $119,422
                                                  =======                                              =======           =======                                             ======                            ========                 =======        =======      ======      ========

    Average oil price (per barrel)                 $92.33                                              $100.58            $88.33                                             $99.77                              $97.09                  $76.93         $89.18      $88.54        $87.55
    Average oil price including                    $92.33                                              $106.06            $92.93                                             $99.77                             $102.08                  $76.93         $89.18      $88.54        $87.55
       hedging (per barrel)
    Average gas price (per Mcf)                     $2.34                                                $2.93             $5.33                                              $3.59                               $2.46                   $3.96          $4.84       $5.03         $4.09
    Average price (per Mcfe)                        $2.44                                               $11.03            $13.19                                              $4.75                               $4.70                   $4.03          $7.49       $5.55         $4.55
    Average price including                         $2.44                                               $11.57            $13.83                                              $4.75                               $4.84                   $4.03          $7.49       $5.55         $4.55
       hedging (per Mcfe)

    Production taxes                                 $699                                               $2,243              $758                                               $156                              $3,856                 $(1,103)        $1,155         $89          $141
    Gathering and transportation                   $5,503                                                 $432              $349                                                $98                              $6,382                  $7,630           $369        $102        $8,101
    Lease operating                                $8,341                                               $3,658            $2,541                                               $963                             $15,503                  $8,188         $3,464        $875       $12,527

    Production taxes (per Mcfe)                     $0.04                                                $0.48             $0.61                                              $0.30                               $0.16                  $(0.05)         $0.31       $0.13         $0.01
    Gathering and transportation                    $0.31                                                $0.09             $0.28                                              $0.19                               $0.26                   $0.35          $0.10       $0.15         $0.31
       (per Mcfe)
    Lease operating (per Mcfe)                      $0.47                                                $0.78             $2.06                                              $1.82                               $0.64                   $0.37          $0.94       $1.31         $0.47

    Oil and Gas Capital Expenditures:
    Leasehold costs                                $2,015                                               $1,903            $4,135                             $                    -                              $8,053                 $10,509         $3,241      $2,911       $16,661
    Exploratory drilling                              408                                                  497                 -                                                  -                                 905                   4,201          7,721           -        11,922
    Development drilling                            9,418                                               21,675            58,441                                                  -                              89,534                  64,350         50,969         757       116,076
    Other development                                 256                                                   45               122                                                 64                                 487                   1,706            512          77         2,295
                                                      ---                                                  ---               ---                                                ---                                 ---                   -----            ---         ---         -----
    Total                                         $12,097                                              $24,120 (a)       $62,698                                                $64                             $98,979 (a)             $80,766        $62,443      $3,745      $146,954
                                                  =======                                              =======           =======                                                ===                             =======                 =======        =======      ======      ========
    (a)            Net of reimbursements received of
                   $23,804 under the Company's Eagle
                   Ford shale joint venture.

                                                                                                                                                                               COMSTOCK RESOURCES, INC.
                                                                                                                                                                              REGIONAL OPERATING RESULTS
                                                                                                                                                                       (In thousands, except per unit amounts)

                                                                                                                                  For the Nine Months Ended September 30, 2011
                                                          For the Nine Months Ended September 30, 2012
                                                          --------------------------------------------
                                        East Texas/                                                 South               West                                                  Other                            Total                East Texas/            South            Other           Total
                                           North                                                    Texas              Texas                                                                                                           North               Texas
                                         Louisiana                                                                                                                                                                                   Louisiana
                                         ---------                                                                                                                                                                                   ---------
    Oil production (Mbbls)                               69                                                  1,285                369                                                    25                             1,748                        89               385              18              492
    Gas production (MMcf)                            55,745                                                  6,807                474                                                 1,541                            64,567                    56,706             8,494           1,962           67,162
    Total production (MMcfe)                         56,162                                                 14,514              2,686                                                 1,693                            75,055                    57,237            10,801           2,075           70,113

    Oil sales                                        $6,714                                               $132,367            $32,493                                                $2,582                          $174,156                    $8,000           $35,885          $1,654          $45,539
    Hedging gains                                         -                                                  3,592              1,066                                                     -                             4,658                         -                 -               -                -
                                                        ---                                                  -----              -----                                                   ---                             -----                       ---               ---             ---              ---
    Total oil, including hedging                      6,714                                                135,959             33,559                                                 2,582                           178,814                     8,000            35,885           1,654           45,539
    Natural gas sales                               125,438                                                 20,472              2,767                                                 4,663                           153,340                   224,069            40,458           9,845          274,372
                                                    -------                                                 ------              -----                                                 -----                           -------                   -------            ------           -----          -------
    Total oil and gas sales                        $132,152                                               $156,431            $36,326                                                $7,245                          $332,154                  $232,069           $76,343         $11,499         $319,911
                                                   ========                                               ========            =======                                                ======                          ========                  ========           =======         =======         ========

    Average oil price (per barrel)                   $96.75                                                $103.05             $88.11                                               $102.07                            $99.63                    $90.25            $93.32          $88.73           $92.59
    Average oil price including                      $96.75                                                $105.84             $91.00                                               $102.07                           $102.30                    $90.25            $93.32          $88.73           $92.59
       hedging (per barrel)
    Average gas price (per Mcf)                       $2.25                                                  $3.01              $5.84                                                 $3.03                             $2.37                     $3.95             $4.76           $5.02            $4.09
    Average price (per Mcfe)                          $2.35                                                 $10.53             $13.13                                                 $4.28                             $4.36                     $4.05             $7.07           $5.54            $4.56
    Average price including                           $2.35                                                 $10.78             $13.52                                                 $4.28                             $4.43                     $4.05             $7.07           $5.54            $4.56
        hedging (per Mcfe)

    Production taxes                                 $2,106                                                 $6,526             $1,667                                                  $574                           $10,873                   $(1,009)           $2,653            $586           $2,230
    Gathering and transportation                    $18,580                                                 $1,939               $758                                                  $335                           $21,612                   $18,840            $1,182            $318          $20,340
    Lease operating                                 $24,979                                                $10,512             $5,587                                                $3,122                           $44,200                   $23,183           $10,451          $2,878          $36,512

    Production taxes (per Mcfe)                       $0.04                                                  $0.45              $0.62                                                 $0.34                             $0.14                    $(0.02)            $0.25           $0.28            $0.03
    Gathering and transportation                      $0.33                                                  $0.13              $0.28                                                 $0.20                             $0.29                     $0.33             $0.11           $0.15            $0.29
       (per Mcfe)
    Lease operating (per Mcfe)                        $0.44                                                  $0.73              $2.08                                                 $1.84                             $0.59                     $0.41             $0.96           $1.39            $0.52

    Oil and Gas Capital Expenditures:
    Acquisitions                      $                   -                             $                        -             $3,235                              $                      -                            $3,235     $                   -  $              - $             - $              -
    Leasehold costs                                   5,813                                                  6,218             12,149                                                     -                            24,180                    25,893            22,506           4,222           52,621
    Exploratory drilling                                976                                                  2,825                  -                                                     -                             3,801                    31,091            46,516               -           77,607
    Development drilling                             99,962                                                157,569            138,166                                                     -                           395,697                   283,377            75,310           1,530          360,217
    Other development                                 1,241                                                    660                331                                                   195                             2,427                     3,557             1,621             369            5,547
                                                      -----                                                    ---                ---                                                   ---                             -----                     -----             -----             ---            -----
    Total                                          $107,992                                               $167,272 (a)       $153,881                                                  $195                          $429,340 (a)              $343,918          $145,953          $6,121         $495,992
                                                   ========                                               ========           ========                                                  ====                          ========                  ========          ========          ======         ========
    (a)            Net of reimbursements received of
                   $23,804 under the Company's Eagle
                   Ford shale joint venture.

SOURCE Comstock Resources, Inc.


Source: PR Newswire