Comstock Resources, Inc. Oil & Gas Exploration and Production Operations and Cost Analysis - Q2, 2015

 Published On: Nov, 2015 |    No of Pages: 90 |  Published By: GlobalData | Format: PDF
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Summary

Comstock Resources, Inc. Oil & Gas Exploration and Production Operations and Cost Analysis is the latest report from GlobalData, the industry analysis specialists, that offers comprehensive information on the operational and financial performance of the company. The report is an essential source for key operational data, analysis and strategic insight into company. The report provides latest annual and quarterly overview of production, reserves, share price performance, reserve changes, capital expenditures, acreage, performance metrics and results of oil & gas operations.

Scope

The report provides in-depth analysis and insights into companies’ capital spending, revenues, oil and gas reserves, production, and performance measures. Its scope includes -
- The report provides detailed and unique insights information on the key operational parameters. The report provides a comprehensive overview of production, reserves, reserve changes, capital expenditures, acreage, performance metrics, and results of oil & gas operations.
- Provides analysis of the share price performance of the company and the key valuation multiples. The report provides a comprehensive overview of share price performance and key valuation metrics such as market capitalization, enterprise value, EV/Production ($boe/d) and EV/Proved Reserve ($/boe)
- Provides annual and quarterly information on key operational and financial parameters. Annual information is for the current and the last four years while the quarterly information is for the current and the last four quarters
- The report provides detailed crude oil and natural gas reserves and production information of the company by country as disclosed in their annual report and regulatory filings.
- Contains in-depth and latest information on exploration, development, finding & development, acquisition expenditure, gross and net developed and undeveloped acreage position; key costs and revenue information; and performance metrics of the company as disclosed in their annual report and regulatory filings.

Note: Scope of the report mentioned above is generic and may not be applicable to all the companies. The report is based on the information disclosed by the company in their annual report and regulatory filings. Information that is not disclosed by the company may not be available in the report.

Quarterly information is covered only for those companies which are December ending and files quarter report. There might be cases where countries/regions data column/Charts will be blank for last five years. This is due to companies might have discontinued reporting of that countries/regions during the last five year time period.

Reasons to buy

The report will enhance your decision making capability in a more rapid and time sensitive manner. It will allow you to -
- Provides up-to-date information and in-depth analysis on operational parameters of the company.
- Identify M&A targets from up-to-date information and in-depth analysis on financial and operational parameters of your competitors.
- Rank your performance against other E&P companies using operational and financial benchmarking metrics.
- Formulate your strategies based on in-depth analysis of your competitors’ financial and operational data.
- Exploit the strengths and weakness of your closest competitors by comparing and analyzing their financial and operational parameters.
- Establish relative performance among the industry’s players based on key operational and financial measures.

Table of Contents
Table of Contents 2
List of Tables 4
List of Figures 5
Company Snapshot 8
Key Information 8
Company Overview 8
Comstock Resources, Inc., Valuation and Financial Data 9
Comstock Resources, Inc., Share Price Performance 9
Share Price Performance, Q2, 2014-Q2, 2015 9
Comstock Resources, Inc., Key Valuation Metrics 10
Key Valuation Metrics, Q2, 2014-Q2, 2015 10
Comstock Resources, Inc., Quarterly Results of Oil & Gas Operations Per boe Produced 11
Results of Oil & Gas Operations Per boe Produced, Q2, 2014-Q2, 2015 11
Results of Oil & Gas Operations Per boe Growth Rates, Q2, 2014-Q2, 2015 12
Comstock Resources, Inc., Quarterly E&P Costs Trends 13
Upstream Capital Expenditure, Q2, 2014-Q2, 2015 13
Comstock Resources, Inc., Quarterly Production Trends 14
Comstock Resources, Inc., Total Oil and Gas Production 14
Total Crude Oil and Natural Gas Production Trend, Q2, 2014-Q2, 2015 14
Total Crude Oil & Natural Gas Production, By Country/Region, Q2, 2014-Q2, 2015 15
Comstock Resources, Inc., Crude Oil Production 16
Total Crude Oil Production Trend, Q2, 2014-Q2, 2015 16
Crude Oil Production, By Country/Region, Q2, 2014-Q2, 2015 17
Comstock Resources, Inc., Natural Gas Production 18
Total Natural Gas Production Trend, Q2, 2014-Q2, 2015 18
Natural Gas Production, By Country/Region, Q2, 2014-Q2, 2015 19
Comstock Resources, Inc., Valuation and Financial Data, 2010-2014 20
Comstock Resources, Inc., Share Price Performance, 2010-2014 20
Share Price Performance, 2010-2014 20
Key Valuation Metrics, 2010-2014 21
Comstock Resources, Inc., Production and Reserves Trends 22
Total Oil and Gas, Reserves and Production 22
Total Crude Oil and Natural Gas Production and Reserves Trend, 2010-2014 22
Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2010-2014 24
Total Crude Oil and Natural Gas Reserve Changes, 2010-2014 26
Crude Oil/Liquids Production and Reserve 27
Crude Oil/Liquids Production and Reserve Trend, 2010-2014 27
Crude Oil Production and Reserves By Country/Region, 2010-2014 28
Crude Oil/Liquids Reserve Changes, 2010-2014 30
Natural Gas Production and Reserve 31
Natural Gas Production and Reserve Trend, 2010-2014 31
Natural Gas Production and Reserves, By Country/Region, 2010-2014 32
Natural Gas Reserve Changes, 2010-2014 34
Total Crude Oil and Natural Gas Reserves Life Index 35
Total Crude Oil and Natural Gas Reserves Life Index, 2010-2014 35
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2010-2014 36
Comstock Resources, Inc., E&P Costs Trends 38
Allocation of the Upstream Capital Expenditure 38
Upstream Capital Expenditure, 2010-2014 38
Acquisition Costs By Country/Region, 2010-2014 39
Exploration and Development Costs, By Country/Region, 2010-2014 41
Oil and Gas Cost Per boe, US$/boe 43
Oil and Gas Cost Per boe, US$/boe, 2010-2014 43
Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2010-2014 45
Comstock Resources, Inc., Reserve Replacement Ratio 47
Oil and Gas Production Replacement Ratio 47
Oil and Gas Production Replacement Ratio, 2010-2014 47
Oil and Gas Production Replacement Ratio, By Country/Region, 2010-2014 49
Comstock Resources, Inc., Results of Oil & Gas Operations Trend 53
Oil and Gas Revenue and Expenses 53
Oil and Gas Revenue and Expenses, 2010-2014 53
Oil and Gas Revenue and Expenses, By Country/Region, 2010-2014 55
Oil and Gas Revenue and Expenses, Per boe 60
Oil and Gas Revenue and Expenses, By boe, 2010-2014 60
Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2010-2014 61
Oil and Gas Performance Metrics 65
Comstock Resources, Inc., Land Holdings and Well Data 66
Developed and Undeveloped Acreage 66
Gross and Net Developed and Undeveloped Acreage, 2010-2014 66
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2010-2014 67
Well Statistics 70
Producible Oil and Gas Well, 2010-2014 70
Producible Oil and Gas Well, By Country/Region, 2010-2014 71
Exploration and Development Wells Drilled, 2010-2014 75
Exploration and Development Wells Drilled, By Country/Region, 2010-2014 77
Recent Developments 78
Comstock Resources, Inc. - Recent Developments 78
Nov 04, 2015: Comstock Resources Reports Third Quarter 2015 Financial And Operating Results 78
Aug 05, 2015: Comstock Resources Reports Second Quarter 2015 Financial And Operating Results 79
May 11, 2015: Comstock Resources Reports First Quarter 2015 Financial And Operating Results 81
Mar 23, 2015: Comstock Resources Announces Reduced 2015 Capital Budget And Provides Update On Haynesville Shale Program 83
Feb 24, 2015: Comstock Resources Revises Fourth Quarter And Annual 2014 Financial Results 83
Feb 17, 2015: Comstock Resources Announces Management Changes 84
Feb 13, 2015: Comstock Resources Announces Suspension Of Common Stock Dividend 84
Feb 10, 2015: Comstock Resources Reports Fourth Quarter and Annual 2014 Financial and Operating Results 84
Jan 22, 2015: Comstock Resources Announces Proved Oil And Gas Reserves As Of December 31, 2014 86
Dec 18, 2014: Comstock Resources Announces 2015 Exploration And Development Budget 86
Appendix 88
Methodology 88
Coverage 88
Secondary Research 88
Primary Research 88
Data Information Sources 89
Company Source 89
SEC/Other Regulatory Filings 89
Other Sources 89
Expert Panel Validation 89
Data Definition 89
Oil and Gas Reserves 89
Units of Measure 90
About GlobalData 90
Disclosure 90
Disclaimer 90

List of Tables
Table 1: Comstock Resources, Inc., Key Facts 8
Table 2: Comstock Resources, Inc., Share Price Performance, Q2, 2014-Q2, 2015 9
Table 3: Comstock Resources, Inc., Key Valuation Metrics, Q2, 2014-Q2, 2015 10
Table 4: Comstock Resources, Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q2, 2014-Q2, 2015 11
Table 5: Comstock Resources, Inc., Results of Oil & Gas Operations Per boe Growth Rates, %, Q2, 2014-Q2, 2015 12
Table 6: Comstock Resources, Inc., Upstream Capital Expenditure, Q2, 2014-Q2, 2015 13
Table 7: Comstock Resources, Inc., Total Crude Oil and Natural Gas, Production, Q2, 2014-Q2, 2015 14
Table 8: Comstock Resources, Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q2, 2014-Q2, 2015 15
Table 9: Comstock Resources, Inc., Total Crude Oil Production, mmbbl, Q2, 2014-Q2, 2015 16
Table 10: Comstock Resources, Inc., Crude Oil Production, By Country/Region, mmbbl, Q2, 2014-Q2, 2015 17
Table 11: Comstock Resources, Inc., Total Natural Gas Production, bcf, Q2, 2014-Q2, 2015 18
Table 12: Comstock Resources, Inc., Natural Gas Production, By Country/Region, bcf, Q2, 2014-Q2, 2015 19
Table 13: Comstock Resources, Inc., Share Price Performance, 2010-2014 20
Table 14: Comstock Resources, Inc., Key Valuation Metrics, 2010-2014 21
Table 15: Comstock Resources, Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2010-2014 23
Table 16: Comstock Resources, Inc., Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2010-2014 25
Table 17: Comstock Resources, Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2010-2014 26
Table 18: Comstock Resources, Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2010-2014 27
Table 19: Comstock Resources, Inc., Crude Oil Production and Reserves, By Country/Region, mmbbl, 2010-2014 29
Table 20: Comstock Resources, Inc., Crude Oil Reserve Changes, mmbbl, 2010-2014 30
Table 21: Comstock Resources, Inc., Natural Gas Production and Reserves Metrics, bcf, 2010-2014 31
Table 22: Comstock Resources, Inc., Natural Gas Production and Reserves, By Country/Region, bcf, 2010-2014 33
Table 23: Comstock Resources, Inc., Natural Gas Reserve Changes, bcf, 2010-2014 34
Table 24: Comstock Resources, Inc., Oil and Gas Reserves Life Index, Years, 2010-2014 35
Table 25: Comstock Resources, Inc., Oil and Gas Reserves Life Index, By Country/Region, Years, 2010-2014 37
Table 26: Comstock Resources, Inc., Upstream Capital Expenditure, US$ mil, 2010-2014 38
Table 27: Comstock Resources, Inc., Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2010-2014 40
Table 28: Comstock Resources, Inc., Exploration and Development Costs, By Country/Region, US$ mil, 2010-2014 42
Table 29: Comstock Resources, Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2010-2014 44
Table 30: Comstock Resources, Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2010-2014 46
Table 31: Comstock Resources, Inc., Oil and Gas Production Replacement Ratio, %, 2010-2014 48
Table 32: Comstock Resources, Inc., 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2010-2014 52
Table 33: Comstock Resources, Inc., Revenue and Expenses, US$ mil, 2010-2014 54
Table 34: Comstock Resources, Inc., Revenue and Expenses, By Country/Region, US$ mil, 2010-2014 59
Table 35: Comstock Resources, Inc., Oil and Gas Revenue and Expenses, US$/boe, 2010-2014 60
Table 36: Comstock Resources, Inc., Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2010-2014 64
Table 37: Comstock Resources, Inc., Oil and Gas Performance Metrics, 2010-2014 65
Table 38: Comstock Resources, Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2010-2014 66
Table 39: Comstock Resources, Inc., Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2010-2014 69
Table 40: Comstock Resources, Inc., Producible Oil and Gas Wells, 2010-2014 70
Table 41: Comstock Resources, Inc., Producible Oil and Gas Wells, By Country/Region, 2010-2014 74
Table 42: Comstock Resources, Inc., Exploratory and Developed Wells, 2010-2014 76
Table 43: Comstock Resources, Inc., Exploratory and Developed Wells, By Country/Region, 2010-2014 77

List of Figures
Figure 1: Comstock Resources, Inc., Share Price Performance, USD/Share, Q2, 2014-Q2, 2015 9
Figure 2: Comstock Resources, Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q2, 2014-Q2, 2015 10
Figure 3: Comstock Resources, Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q2, 2014-Q2, 2015 11
Figure 4: Comstock Resources, Inc., Upstream Capital Expenditure, US$ mil, Q2, 2014-Q2, 2015 13
Figure 5: Comstock Resources, Inc., Total Crude Oil and Natural Gas, Production, mmboe, Q2, 2014-Q2, 2015 14
Figure 6: Comstock Resources, Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q2, 2014-Q2, 2015 15
Figure 7: Comstock Resources, Inc., Total Crude Oil Production, mmbbl, Q2, 2014-Q2, 2015 16
Figure 8: Comstock Resources, Inc., Crude Oil Production, By Country/Region, mmbbl, Q2, 2014-Q2, 2015 17
Figure 9: Comstock Resources, Inc., Total Natural Gas Production, bcf, Q2, 2014-Q2, 2015 18
Figure 10: Comstock Resources, Inc., Natural Gas Production, By Country/Region, bcf, Q2, 2014-Q2, 2015 19
Figure 11: Comstock Resources, Inc., Share Price Performance, USD/Share, 2010-2014 20
Figure 12: Comstock Resources, Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2010-2014 21
Figure 13: Comstock Resources, Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2010-2014 22
Figure 14: Comstock Resources, Inc., Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2010-2014 24
Figure 15: Comstock Resources, Inc., Total Oil & Gas Production, By Country/Region, mmboe, 2010-2014 24
Figure 16: Comstock Resources, Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2014 26
Figure 17: Comstock Resources, Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2010-2014 27
Figure 18: Comstock Resources, Inc., Oil Reserves, End of Period, By Country/Region, mmbbl, 2010-2014 28
Figure 19: Comstock Resources, Inc., Oil Production, By Country/Region, mmbbl, 2010-2014 28
Figure 20: Comstock Resources, Inc., Crude Oil Reserve Changes, mmbbl, 2014 30
Figure 21: Comstock Resources, Inc., Natural Gas Production and Reserves Metrics, bcf, 2010-2014 31
Figure 22: Comstock Resources, Inc., Gas Reserves, End of Period, By Country/Region, bcf, 2010-2014 32
Figure 23: Comstock Resources, Inc., Gas Production, By Country/Region, bcf, 2010-2014 32
Figure 24: Comstock Resources, Inc., Natural Gas Reserve Changes, bcf, 2014 34
Figure 25: Comstock Resources, Inc., Oil and Gas Reserves Life Index, Years, 2010-2014 35
Figure 26: Comstock Resources, Inc., Gas Reserve Life Index, By Country/Region, Years, 2010-2014 36
Figure 27: Comstock Resources, Inc., Oil & Gas Reserve Life Index, By Country/Region, Years, 2010-2014 36
Figure 28: Comstock Resources, Inc., Oil Reserve Life Index, By Country/Region, Years, 2010-2014 37
Figure 29: Comstock Resources, Inc., Upstream Capital Expenditure, US$ mil, 2010-2014 38
Figure 30: Comstock Resources, Inc., Proved Acquisition Costs, By Country/Region, US$ mil, 2010-2014 39
Figure 31: Comstock Resources, Inc., Unproved Acquisition Costs, By Country/Region, US$ mil, 2010-2014 39
Figure 32: Comstock Resources, Inc., Development Costs, By Country/Region, US$ mil, 2010-2014 41
Figure 33: Comstock Resources, Inc., Exploration Costs, By Country/Region, US$ mil, 2010-2014 41
Figure 34: Comstock Resources, Inc., 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2010-2014 43
Figure 35: Comstock Resources, Inc., Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, $/boe, 2010-2014 45
Figure 36: Comstock Resources, Inc., Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, $/Boe, 2010-2014 45
Figure 37: Comstock Resources, Inc., Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, $/boe, 2010-2014 46
Figure 38: Comstock Resources, Inc., 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2010-2014 47
Figure 39: Comstock Resources, Inc., 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2010-2014 49
Figure 40: Comstock Resources, Inc., 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2010-2014 49
Figure 41: Comstock Resources, Inc., 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2010-2014 50
Figure 42: Comstock Resources, Inc., 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2010-2014 50
Figure 43: Comstock Resources, Inc., 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2010-2014 51
Figure 44: Comstock Resources, Inc., 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2010-2014 51
Figure 45: Comstock Resources, Inc., Revenue and Expenses, US$ mil, 2010-2014 53
Figure 46: Comstock Resources, Inc., Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 55
Figure 47: Comstock Resources, Inc., Exploration Expenses, By Country/Region, US$ mil, 2010-2014 55
Figure 48: Comstock Resources, Inc., Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 56
Figure 49: Comstock Resources, Inc., Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 56
Figure 50: Comstock Resources, Inc., Oil & Gas Revenue, By Country/Region, US$ mil, 2010-2014 57
Figure 51: Comstock Resources, Inc., Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 57
Figure 52: Comstock Resources, Inc., Production Costs, By Country/Region, US$ mil, 2010-2014 58
Figure 53: Comstock Resources, Inc., Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 58
Figure 54: Comstock Resources, Inc., Oil and Gas Revenue and Expenses, US$/boe, 2010-2014 60
Figure 55: Comstock Resources, Inc., Exploration Expenses per boe, By Country/Region, $/boe, 2010-2014 61
Figure 56: Comstock Resources, Inc., Income Tax/(Benefit) per boe, By Country/Region, $/boe, 2010-2014 61
Figure 57: Comstock Resources, Inc., Lifting Cost per boe, By Country/Region, $/boe, 2010-2014 62
Figure 58: Comstock Resources, Inc., Annual Net Income per boe, By Country/Region, $/boe, 2010-2014 62
Figure 59: Comstock Resources, Inc., Oil & Gas Revenue per boe, By Country/Region, $/boe, 2010-2014 63
Figure 60: Comstock Resources, Inc., Total DD&A per boe, By Country/Region, $/boe, 2010-2014 63
Figure 61: Comstock Resources, Inc., Total Revenue per boe, By Country/Region, $/boe, 2010-2014 64
Figure 62: Comstock Resources, Inc., Oil and Gas Performance Metrics, 2010-2014 65
Figure 63: Comstock Resources, Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2010-2014 66
Figure 64: Comstock Resources, Inc., Total Gross Undeveloped Acreage, By Country/Region, Acres, 2010-2014 67
Figure 65: Comstock Resources, Inc., Total Net Undeveloped Acreage, By Country/Region, Acres, 2010-2014 67
Figure 66: Comstock Resources, Inc., Total Gross Developed Acreage, By Country/Region, Acres, 2010-2014 68
Figure 67: Comstock Resources, Inc., Total Net Developed Acreage, By Country/Region, Acres, 2010-2014 68
Figure 68: Comstock Resources, Inc., Producible Oil and Gas Wells, 2010-2014 70
Figure 69: Comstock Resources, Inc., Gross Productive Gas Wells, By Country/Region, Number, 2010-2014 71
Figure 70: Comstock Resources, Inc., Gross Productive Oil & Gas Wells, By Country/Region, Number, 2010-2014 71
Figure 71: Comstock Resources, Inc., Gross Productive Oil Wells, By Country/Region, Number, 2010-2014 72
Figure 72: Comstock Resources, Inc., Net/Gross Oil & Gas Ratio, By Country/Region, %, 2010-2014 72
Figure 73: Comstock Resources, Inc., Net Productive Gas Wells, By Country/Region, Number, 2010-2014 73
Figure 74: Comstock Resources, Inc., Net Productive Oil & Gas Wells, By Country/Region, Number, 2010-2014 73
Figure 75: Comstock Resources, Inc., Net Productive Oil Wells, By Country/Region, Number, 2010-2014 74
Figure 76: Comstock Resources, Inc., Exploratory and Developed Wells, 2010-2014 75


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