Comstock out there Omg dividend cut
Posted: Tue Feb 13, 2024 4:26 pm
>reserves fall hard
Comstock also announced that proved natural gas and oil reserves as of December 31, 2023 were estimated at 4.9 trillion cubic feet equivalent ("Tcfe") as compared to 6.7 Tcfe as of December 31, 2022.
Hit 7.01 after hours
- earnings miss
Drill baby drill. Drill yourself out of cash
Dividend is cut to Zero. 2 rigs released , too little, too late
Outspent cash flow by 120 m in q4 and 567 for the year. This was the good qtr, the qtr with high NG prices, not the current 1.75
Comstock also announced that proved natural gas and oil reserves as of December 31, 2023 were estimated at 4.9 trillion cubic feet equivalent ("Tcfe") as compared to 6.7 Tcfe as of December 31, 2022.
Hit 7.01 after hours
- earnings miss
Drill baby drill. Drill yourself out of cash
Dividend is cut to Zero. 2 rigs released , too little, too late
Outspent cash flow by 120 m in q4 and 567 for the year. This was the good qtr, the qtr with high NG prices, not the current 1.75