Comstock out there Omg dividend cut

[Fraser921]

>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

[dan_s]

Comstock's Adjusted Net Income and Adjusted Operating Cash Flow for Q4 came in below my forecast. I will take a hard look at tomorrow morning.

Shutting down the dividends makes sense. Living within operating cash flow to get through 2024 is top priority for this one.