Comstock Resources, Inc. (CRK) Q3 2024 Earnings Call Transcript Summary
Comstock Resources, Inc. (CRK) Q3 2024 Earnings Call Transcript Summary
Reported an adjusted net loss of $0.17 per share for the quarter, largely due to higher depreciation, depletion, and amortization driven by reduced undeveloped reserves under SEC rules reflecting low natural gas prices.The following is a summary of the Comstock Resources, Inc. (CRK) Q3 2024 Earnings Call Transcript:
以下是康斯托克能源公司（CRK）2024年第三季度業績會交易討論摘要：
Financial Performance:
金融業績：
Comstock Resources reported Q3 2024 oil and gas sales of $305 million, despite being impacted by weak natural gas prices with an average realized gas price before hedging at $1.90.
They generated a cash flow from operations of $152 million and adjusted EBITDAX of $202 million for the quarter.
Reported an adjusted net loss of $0.17 per share for the quarter, largely due to higher depreciation, depletion, and amortization driven by reduced undeveloped reserves under SEC rules reflecting low natural gas prices.
Year-to-date production averaged 1.5 Bcfe per day with sales decreasing 7% to $919 million and a net loss of $121 million or $0.42 per share in comparison to 2023.
儘管受到天然氣價格疲弱的影響，康斯托克能源報告了2024年第三季度石油和燃料幣銷售額爲30500萬美元，平均實現價格在對沖之前爲1.90美元。
他們本季度的運營現金流爲15200萬美元，並調整後的EBITDAX爲20200萬美元。
由於根據SEC規定反映低天然氣價格減少未開發儲備，導致高折舊、減值和攤銷，報告了每股調整後淨虧損0.17美元。
截至目前爲止，年度產量平均爲1.5 Bcfe/天，銷售額下降了7％至91900萬美元，在2023年相比出現了12100萬美元的淨虧損，每股42美分。
Business Progress:
業務進展：
Comstock continued expansion in the Western Haynesville, having secured 450,000 net acres and drilled 18 wells there.
Achieved cost reduction in drilling, most recently at approximately $2,814 per lateral foot.
They turned eight wells to sales with an average IP rate locally boosting volumes and plan to turn six more wells by early January 2025.
Mention of innovative 'horseshoe' drilling approach in isolated acreage where they can drill horseshoe-shaped lateral wells that optimize production and cost.
康斯托克繼續在西哈恩斯維爾進行擴張，已獲得45萬畝淨地，並在那裏鑽探了18口井。
最近在鑽井方面實現了成本降低，每橫向英尺約爲$2,814。
他們將八口井轉爲銷售，當地平均IP速率提高了產量，並計劃在2025年1月初再轉換六口井。
提到在孤立面積中採用創新的「馬蹄鐵」鑽井方法，他們可以鑽馬蹄形的橫向井，以優化生產和降低成本。
Opportunities:
機會：
Positioned to benefit from the anticipated growth in natural gas demand driven by AI growth and expansions in LNG exports.
Effective reduction in well costs in the Western Haynesville could make operations more competitive and profitable.
Exploitation of the horseshoe lateral drilling concept could potentially double as an innovative way to maximize resource extraction and optimize returns.
預計由人工智能的增長和液化天然氣出口擴張驅動的天然氣需求增長中受益。
效率提高，西海恩斯維爾的井成本降低可能使業務更具競爭力和盈利性。
利用馬蹄形橫向鑽井的概念可以作爲一種創新方式，有望實現資源開採的最大化和回報的優化。
Risks:
風險：
Persistently low natural gas prices are severely impacting financial outcomes and valuing their undeveloped reserves, which might constrain their operational scalability and financial flexibility.
The company's financial health could be impaired by a delayed recovery in natural gas prices, as roughly indicated by their hedging strategies and operational responses to current market dynamics.
持續低迷的天然氣價格嚴重影響着財務業績，並對其未開發的儲備進行估值，這可能會限制其營運規模和財務靈活性。
公司的財務狀況可能會受到天然氣價格遲遲未能恢復的影響，大致由其對沖策略和對當前市場動態的營運響應表明。
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譯文內容由第三人軟體翻譯。
