You know those 12.5m shares bought by Jerry Jones at $ 8 a few months ago in special sweetheart deal?
Proposed offering is for 12,500,000 $11.70 $146,250,000.00 > a cool 46 M
Well , CRK made a filing for JJ, to sell those shares . Made a cool 46 m. How did you guys do?
On March 20, 2024, we entered into a subscription agreement (the “Subscription Agreement”) with each of Arkoma Drilling L.P., a Texas limited partnership (“Arkoma”) and Williston Drilling L.P., a Texas limited partnership (“Williston” and, together with Arkoma, the “Jones Entities”), pursuant to which the Jones Entities purchased in the aggregate, 12,500,000 shares of our common stock, $0.50 par value per share (the “Common Stock”) for total consideration of approximately $100.5 million. In connection with the consummation of the transactions contemplated by the Subscription Agreement, we entered into that certain Second Amended and Restated Registration Rights Agreement dated March 25, 2024 (the “Registration Rights Agreement”), pursuant to which we are registering for resale by the Jones Entities of up to 12,500,000 shares of Common Stock.
What's it say that he is dumping shares?
ALERT ALERT CRK makes a filing
Re: ALERT ALERT CRK makes a filing
Naturally I started a position in CRK today.
Re: ALERT ALERT CRK makes a filing
Fraser921 stupid post as usual.
This is really just a procedural filing following the private placement. Jerry has no intention of selling until this gets to maybe $35+.
We are at $12 in a low pricing enviornment. I thought you said this was going sub $5?
"Added 198,000 net acres to our Western Haynesville leasehold, increasing our total acreage position in the play to over 450,000 net acres"
Dan you took this off your sweet 16 prematurely.
This is really just a procedural filing following the private placement. Jerry has no intention of selling until this gets to maybe $35+.
We are at $12 in a low pricing enviornment. I thought you said this was going sub $5?
"Added 198,000 net acres to our Western Haynesville leasehold, increasing our total acreage position in the play to over 450,000 net acres"
Dan you took this off your sweet 16 prematurely.
Re: ALERT ALERT CRK makes a filing
Uber you are the dumbest guy on this board defending JJ and these crooks and attacking me.
When losers can't defend their position, they start name calling. Nice work DUMBERCOAT
They always get their hedges wrong. They hedged at the low and now prices are soaring. Jan 25 is selling for 4.20 today. CRK wont get that, they will get 3.50. And 3.50 is breakeven all in FCF wise. They lost money on hedges in q1 with extremely low prices
How do you know what JJ is doing? They have a specific price listed and the name isn't moving with NG up 8%.
And that doesn't matter anyways, the longs got diluted and JJ made 46 m on their stupidity. They work for him. And dummies like you think that's ok! Don't play a fool, Goobercat!
And BTW, I said it traded at 5 in the past when prices were better than they were 2 months ago. The name got to 7.09 from 20 from when I got negative on the name. Much closer than your lame TP.
When losers can't defend their position, they start name calling. Nice work DUMBERCOAT
They always get their hedges wrong. They hedged at the low and now prices are soaring. Jan 25 is selling for 4.20 today. CRK wont get that, they will get 3.50. And 3.50 is breakeven all in FCF wise. They lost money on hedges in q1 with extremely low prices
How do you know what JJ is doing? They have a specific price listed and the name isn't moving with NG up 8%.
And that doesn't matter anyways, the longs got diluted and JJ made 46 m on their stupidity. They work for him. And dummies like you think that's ok! Don't play a fool, Goobercat!
And BTW, I said it traded at 5 in the past when prices were better than they were 2 months ago. The name got to 7.09 from 20 from when I got negative on the name. Much closer than your lame TP.
Re: ALERT ALERT CRK makes a filing
This is not dilutive to CRK. Jerry Jones has a lot more at risk than all of the other shareholders combined. He deserves to make money.
If natural gas prices go to $4.00 in 2025, which is looking more likely each day, CRK is going to be a very profitable company.
CRK is a "High-Risk / High-Reward" company. It is almost a pure play on dry gas. The Haynesville does have a high breakeven point, but it also has direct access to the big LNG export facilities. If the LNG exporters do get into a bidding war with the utilities, CRK will be in a very attractive position.
If you don't like a company sell it and move on. There is no point in posting negative comments about any company. None of the gassers knew that we'd have two record warm winters in a row. They don't control the weather.
I don't want EPG to be known as an organization that post negative comments about any public company. There is no upside in doing that for me or any of our members.
If natural gas prices go to $4.00 in 2025, which is looking more likely each day, CRK is going to be a very profitable company.
CRK is a "High-Risk / High-Reward" company. It is almost a pure play on dry gas. The Haynesville does have a high breakeven point, but it also has direct access to the big LNG export facilities. If the LNG exporters do get into a bidding war with the utilities, CRK will be in a very attractive position.
If you don't like a company sell it and move on. There is no point in posting negative comments about any company. None of the gassers knew that we'd have two record warm winters in a row. They don't control the weather.
I don't want EPG to be known as an organization that post negative comments about any public company. There is no upside in doing that for me or any of our members.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: ALERT ALERT CRK makes a filing
Agree with Dan that CRK is high risk/(potentially) high reward investment. They have bet the company on the Western Haynesville and having listened to the last conference call the economics on their “monster wells” has not yet been proven. Jay Allison spoke like it was a science project. Having personally been burned by Memorial Resource Development and Memorial Resource Partners in in the Haynesville I am very skeptical of the play being economic at foreseeable pricing. I hope I’m wrong in that I have some skin in the game on CRK though not a lot. Also recall a bit south the days of Jim Bob’s Ultra Deep DavyJones Et Al monster wells that never produced anything except bankruptcy for Energy XXI. So we shall see likely in 2025 whether Jerry’s bet pays off or not. In my view the jury is still out.
“ Jay Allison
Derek, I'll comment. We have 11 to 12 wells turned to sales and we've only started drilling two wells prepared recently. We've only had one well that's been producing over two years. It's early on in the play, but what we have seen so far is exemplary, whether it's IP rates, whether it's the lack of decline, whether it's EURs. In any new play like this, I mean, I think we all agree that the resource is there. The question is, can you get it out economically? In any birth of any life, particularly like the core of the Haynesville in 2008, I mean, the more wells you drill, the lower the costs are. I think Dan has done a good job. I mean, our first wells were 80 days to drill. Now there the last one has been 54. These costs are coming down. I think we're getting better and better and better. Dan?
Dan Harrison
Yes. I'll just add that, when you compare the two areas, if you look at the costs like you mentioned in the core, those are pretty much set. We kind of know what we're going to drill them for, absent any problems. You are making some small improvements here and there. But you compare that to the Western Haynesville, where if you look at the cost like you mentioned, that's where we started. Those costs are coming down, right? On the Western Haynesville side, you are seeing the cost really move down, which is changing the economics and you are not really seeing that in the core. Those are kind of fixed, right? We've been optimized for a while.
Roland Burns
Derek, the core goes many more from 1.2 to maybe 2.2. I mean, you may see 2.3, but like you said, 2.0, that's a Blue Ribbon well in the core. I think what we're trying to derisk in the Western Haynesville is that a large portion of that acreage is competitive, if not potentially better than the best of the best at the core. That's what we're trying to prove up.”
“ Jay Allison
Derek, I'll comment. We have 11 to 12 wells turned to sales and we've only started drilling two wells prepared recently. We've only had one well that's been producing over two years. It's early on in the play, but what we have seen so far is exemplary, whether it's IP rates, whether it's the lack of decline, whether it's EURs. In any new play like this, I mean, I think we all agree that the resource is there. The question is, can you get it out economically? In any birth of any life, particularly like the core of the Haynesville in 2008, I mean, the more wells you drill, the lower the costs are. I think Dan has done a good job. I mean, our first wells were 80 days to drill. Now there the last one has been 54. These costs are coming down. I think we're getting better and better and better. Dan?
Dan Harrison
Yes. I'll just add that, when you compare the two areas, if you look at the costs like you mentioned in the core, those are pretty much set. We kind of know what we're going to drill them for, absent any problems. You are making some small improvements here and there. But you compare that to the Western Haynesville, where if you look at the cost like you mentioned, that's where we started. Those costs are coming down, right? On the Western Haynesville side, you are seeing the cost really move down, which is changing the economics and you are not really seeing that in the core. Those are kind of fixed, right? We've been optimized for a while.
Roland Burns
Derek, the core goes many more from 1.2 to maybe 2.2. I mean, you may see 2.3, but like you said, 2.0, that's a Blue Ribbon well in the core. I think what we're trying to derisk in the Western Haynesville is that a large portion of that acreage is competitive, if not potentially better than the best of the best at the core. That's what we're trying to prove up.”
Re: ALERT ALERT CRK makes a filing
I've largely disengaged from this message board not because of "negative comments" but because of the admonishment and threat of censorship (prior comments) of the same. If someone doesn't like the comments, then don't read them. Frazer's comments regarding aren't incendiary, but certainly contain a mix of fact and opinion, so there's nothing wrong with banging on a company's management for abject failure which is what Comstock has been since hitting $20.
The other facts are that you (Dan) were very high on Comstock, primarily because their price to cash flow was at or below 2 at the time, as I recall. But cashflow could not save the Comstock Mgmt. folks from being completely wrong on their "all in" decision regarding not hedging and it was devastating to those of us that bought it. First we got killed by the gassers Mgmt. when they had too much exposure to hedges as prices were doing a moonshot and then Mgmt. took off 100% of the hedges just as prices were falling through the floor (Both Comstock and Antero). Both of these companies have now been dropped off the EPG website and I just don't understand if these companies were so solid before, why kick them so hard to the curb? And yes, Jerry Jones making this much money in an environment where he has a controlling interest and the Comstock Mgmt has been so inept just doesn't pass the smell test. It's more akin to the type of special treatment Biden gets, and it's bullcrap. I like Frazer's comments because they're not always + or -, but different and thoughtful.
I haven't given up on Nat. gas, as I've added both Range and Antero, and I think I'll take another look at PHX. I would like to see coverage back on Antero if you have capacity
The other facts are that you (Dan) were very high on Comstock, primarily because their price to cash flow was at or below 2 at the time, as I recall. But cashflow could not save the Comstock Mgmt. folks from being completely wrong on their "all in" decision regarding not hedging and it was devastating to those of us that bought it. First we got killed by the gassers Mgmt. when they had too much exposure to hedges as prices were doing a moonshot and then Mgmt. took off 100% of the hedges just as prices were falling through the floor (Both Comstock and Antero). Both of these companies have now been dropped off the EPG website and I just don't understand if these companies were so solid before, why kick them so hard to the curb? And yes, Jerry Jones making this much money in an environment where he has a controlling interest and the Comstock Mgmt has been so inept just doesn't pass the smell test. It's more akin to the type of special treatment Biden gets, and it's bullcrap. I like Frazer's comments because they're not always + or -, but different and thoughtful.
I haven't given up on Nat. gas, as I've added both Range and Antero, and I think I'll take another look at PHX. I would like to see coverage back on Antero if you have capacity
Re: ALERT ALERT CRK makes a filing
I decided to more AR and RRC out of the Sweet 16 after another warm winter crushed U.S. natural gas prices. Today, the U.S. natural gas market looks a lot better. I will be updating my forecast models for AR, RRC and CRK late this month.
I still have nine Small-Caps and High Yield companies that need to be updated first.
As I have posted here many times. CRK is higher risk because it is 99% dry gas with very little liquids production. AR and CRK definitely screwed up by not hedging more of their gas when prices were high.
Negative comments about public companies is not good for EPG. Just walk away from the bad ones. I do not want EPG to become a group that bad mouths companies. There is no upside to doing that.
I do believe that we will see HH ngas over $4.00 in 2025 if 6 Bcfpd of additional LNG export capacity comes online this year.
I still have nine Small-Caps and High Yield companies that need to be updated first.
As I have posted here many times. CRK is higher risk because it is 99% dry gas with very little liquids production. AR and CRK definitely screwed up by not hedging more of their gas when prices were high.
Negative comments about public companies is not good for EPG. Just walk away from the bad ones. I do not want EPG to become a group that bad mouths companies. There is no upside to doing that.
I do believe that we will see HH ngas over $4.00 in 2025 if 6 Bcfpd of additional LNG export capacity comes online this year.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group