Energy Prospectus

Dan

Is there a way to know how much of Comstock's gas is sold as LNG overseas and if so, then at what price do they sell it at? Henry Hub?
Thanks

They sell at HH less a basis adjustment 20 to 40 cents

The export facility chills it and sells it to a middle man at cost plus fixed fee

The middle man hires the ship and take the 1 month price risk from USA to wherever it is delivered

FLEX NG is a shipper FLNG. You can see their briefing here

https://static.seekingalpha.com/uploads ... iginal.pdf

On dropping rigs

Well, they are definitely dropping rigs. We have talked to a few of them, not all of them, but everybody we have talked to is basically planning to drop rigs. We've already seen a few rigs dropped here just in the last two to three weeks. So I think that's how many ultimately they drop remains to be seen. But definitely, everybody that we have talked to is dropping rigs, has dropped rigs.

Comstock gas- from the call cash flow goals for the year


The Ceo said>
We're going to manage it, be that responsible in the future. So our goal is net net-net, to get quarter-by-quarter-by-quarter, if you get through 2023, and it's a soft year, our goal is to not have borrowed net at the end of next year, $0.01 from our credit facility. So you can't look at it on a 90-day basis it drives you crazy. But that's our goal.


So the goal is to have 0 FCF for the year... YUCK

The CFO added

we kind of set a goal of creating at least $0.5 billion of a cash kind of reserve that could fund acquisitions, et cetera. So I think that's kind of where we would - once we kind of have that established, then we kind of will look at other return of capital.

So translation , keep the 12.5 cent dividend and try to build cash 500 m then decide what to do with it

I am already loaded up on CRK and after the last conference call, I will load up even more. It appears no one understands their strategy and mid to long term upside.

I plan to go over Comstock's forecast/valuation model on today's podcast.