Comstock (CRK) Q1 2026 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Wed, May 6, 2026 astatine 12:12 PM CDT 39 min read

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Date

Wednesday, May 6, 2026 astatine 11 a.m. ET

Call participants

• Chairman and Chief Executive Officer — Miles Jay Allison

• President and Chief Financial Officer — Roland O. Burns

• Chief Operating Officer — Daniel S. Harrison

Full Conference Call Transcript

On Slide 3, we summarize the highlights for the archetypal quarter. Lower production, partially driven by accumulation interaction from important wintertime upwind successful the archetypal quarter, drove the little fiscal results successful the 4th compared to 2025. Our earthy state and lipid income were $339 million. We generated $192 cardinal of operating currency flow, oregon $0.66 per share. Adjusted EBITDAX for the 4th was $251 million, and we reported adjusted nett income of $44 million, oregon $0.15 per share. During the quarter, we had precise beardown drilling results which volition thrust accumulation backmost up for the remainder of the year. Almost each the wells returned to income successful the archetypal 4th were precise precocious successful the quarter. Since our past update, we enactment six caller Western Haynesville wells online with an mean per-well archetypal accumulation complaint of 29 cardinal cubic feet per day. In our bequest Haynesville, we turned 10 wells to income with an mean lateral magnitude of 12,312 feet and a per-well archetypal accumulation complaint of 31 cardinal cubic feet per day. Now, the powerfulness procreation hub: On March 19, 2026, the United States Department of Commerce selected our Western Haynesville tract to big a caller 5.2 gigawatt earthy gas-fired powerfulness procreation hub to beryllium located successful Anderson County, Texas, arsenic shown connected Slide 4. We are precise excited astir this improvement and what it means to person a ample commercialized lawsuit successful our backyard. The task is portion of Japan's $550 cardinal concern committedness successful the United States arsenic portion of the U.S.-Japanese commercialized deal. The U.S. and Japan would ain the projects portion NextEra Energy Resources volition develop, build, and run it.

NextEra is actively processing the project, advancing tract development, procurement, permitting, and commercialized structuring arsenic they enactment toward definitive agreements with the U.S. and Japan. This task takes vantage of our abundant earthy state proviso and a beardown transmission infrastructure successful the area. The Anderson County installation volition person up to 5.2 gigawatts of earthy gas-fired procreation susceptible of serving up to 5 gigawatts of large-load demand. Comstock Resources, Inc. volition supply the earthy state proviso for the facility, which could scope astir 1 cardinal cubic feet per time by 2031. We volition present supply immoderate much details connected the fiscal results we reported yesterday. Roland?