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Comstock Resources Q1 2024 Overview
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Overview
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In Q1 2024, Comstock Resources, Inc. reported $336.0 million in natural gas and oil sales, $182.0 million in operating cash flow, and a net loss of $14.5 million. The company drilled 16 horizontal shale wells with an average length of 9,845 feet and maintained a $2.0 billion borrowing base under a $1.5 billion credit facility.
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How does Comstock Resources' drilling activity in Q1 reflect industry trends and market conditions?
How might the net loss impact Comstock Resources' future strategies?
What factors influenced the decision to maintain the borrowing base above the credit facility amount?
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