Comstock fumbles

[Fraser921]

Weak natural gas prices have weighed heavily on the second quarter results.

Down 9 % after hours, earnings miss

My surprised face


Negative Fcf Free cash flow (deficit) from operations $ (183,461 )
This is bad

They should stop drilling

Of course big bonus will be paid for losing cash

Every gasser sucks

[ChuckGeb]

This is one of those quarters where you write-off everything possible. Loss doesn't surprise me. They are still solvent with $1.5 billion in liquidity. Proving up their Western Haynesville acreage with two monster wells and hopefully adding to their acreage there. I just hope Jerry Jones doesn't pull a Harold Hamm and decide to take private in the next twelve months. Will be an interesting callas they have some splaining to do on their hedges.

[Fraser921]

I misunderstood this comment...poorly worded...

>"The reported net loss in the quarter included a pre-tax $60.0 million unrealized loss on hedging contracts held for risk management"

They lost 60 m before taxes and 4.5 m on hedges, so someone screwed up the wording in the press release

Looking at the numbers , Income (loss) before income taxes (60,152)

I had the same thought , JJ buys this out cheap