Comstock Resources Inc. (CRK) reported a third-quarter net loss of $12.6 million or $0.28 per share, compared to net income of $224.62 million or $4.85 per share in the same quarter last year.
Net loss from continuing operations for the quarter was $12.6 million or $0.28 per share, compared to net income from continuing operations of $54.8 million or $1.18 per share in the year ago quarter.
The loss in the third quarter is primarily attributable to lower oil and natural gas prices in 2009. Comstock averaged $3.63 per Mcf for sales of its natural gas production in the third quarter of 2009, 64% lower than the $10.16 per Mcf realized in 2008's third quarter. Realized oil prices in the third quarter of 2009 averaged $57.96 per barrel, 45% lower than the $105.15 per barrel in 2008's third quarter.
The lower oil and natural gas prices caused the third quarter of 2009's oil and gas sales to decrease 59% to $67.4 million as compared to 2008's third quarter sales of $163.9 million.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.27 per share on revenues of $73.03 million for the quarter. Analysts' estimates typically exclude special items.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.