10-K Filing

COMSTOCK RESOURCES INC CIK: 23194 FY 2018

Filing Information

Form Type	10-K
Accession Number	`0001564590-19-005805`
Period End Date	20181231
Filing Date	20190301
Fiscal Year	2018
Fiscal Period	FY
XBRL Instance	crk-20181231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 36 Income Statement 27 Cash Flow Statement 27 Stockholders Equity 12

Balance Sheet 36 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.50	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.19M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$894.19M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	155.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	105.87M	shares	Point-in-time
Oil and gas sales	`AccountsReceivableNetCurrent`	$87.61M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	105.87M	shares	Point-in-time
Joint interest operations	`OilAndGasJointInterestBillingReceivablesCurrent`	$9.18M	USD	Point-in-time
Derivative Financial Instruments	`DerivativeAssetsCurrent`	$15.40M	USD	Point-in-time
Income Taxes Receivable	`IncomeTaxesReceivable`	$10.22M	USD	Point-in-time
Other Current Assets	`OtherAssetsCurrent`	$13.83M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$159.43M	USD	Point-in-time
Proved properties	`ProvedOilAndGasPropertySuccessfulEffortMethod`	$1.68B	USD	Point-in-time
Unproved properties	`UnprovedOilAndGasPropertySuccessfulEffortMethod`	$191.93M	USD	Point-in-time
Other	`PropertyPlantAndEquipmentOther`	$4.44M	USD	Point-in-time
Accumulated depreciation, depletion and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$210.56M	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$1.67B	USD	Point-in-time
Goodwill	`Goodwill`	$350.21M	USD	Point-in-time
Goodwill	`Goodwill`	$350.21M	USD	Point-in-time
Income Taxes Receivable	`IncomeTaxesReceivableNoncurrent`	$10.22M	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$2.00K	USD	Point-in-time
Total Assets	`Assets`	$2.19B	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$138.77M	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$68.09M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$206.85M	USD	Point-in-time
Long-term Debt	`LongTermDebtNoncurrent`	$1.24B	USD	Point-in-time
Deferred Income Taxes	`DeferredTaxLiabilitiesNoncurrent`	$161.92M	USD	Point-in-time
Reserve for Future Abandonment Costs	`AssetRetirementObligationsNoncurrent`	$5.14M	USD	Point-in-time
Reserve for Future Abandonment Costs	`AssetRetirementObligationsNoncurrent`	$4.68M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.62B	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock$0.50 par, 75,000,000 shares authorized, 15,427,561 shares issued and outstanding at December 31, 2017, 155,000,000 shares authorized, 105,871,064 shares issued and outstanding at December 31, 2018, respectively	`CommonStockValue`	$52.94M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$452.51M	USD	Point-in-time
Accumulated earnings (deficit)	`RetainedEarningsAccumulatedDeficit`	$64.12M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$569.57M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$2.19B	USD	Point-in-time

Income Statement 27 line items

Line Item	Tag	Value	Unit	Period
Total oil and gas sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$223.62M	USD	2 Qtrs
Total oil and gas sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$70.12M	USD	1 Quarter
Total oil and gas sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$153.50M	USD	1 Quarter
Production taxes	`ProductionAndSeveranceTaxesOperatingExpense`	$11.15M	USD	2 Qtrs
Gathering and transportation	`GasGatheringAndTransportationCost`	$10.51M	USD	2 Qtrs
Lease operating	`LeaseOperatingExpenses`	$20.74M	USD	2 Qtrs
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$53.94M	USD	2 Qtrs
General and administrative, net	`GeneralAndAdministrativeExpense`	$11.40M	USD	2 Qtrs
Loss (gain) on sale of oil and gas properties	`LossOnSaleOfOilAndGasProperty`	$-155.00K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$107.59M	USD	2 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$34.58M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$116.03M	USD	2 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$81.45M	USD	1 Quarter
Gain (loss) from derivative financial instruments	`GainLossOnDerivativeInstrumentsNetPretax`	$10.46M	USD	2 Qtrs
Interest expense	`InterestExpense`	$43.60M	USD	2 Qtrs
Other income	`InterestAndOtherIncome`	$173.00K	USD	2 Qtrs
Total other income (expenses)	`NonoperatingIncomeExpense`	$-32.97M	USD	2 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$83.07M	USD	2 Qtrs
Benefit from (provision for) income taxes	`IncomeTaxExpenseBenefit`	$18.94M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$13.82M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$50.30M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$64.12M	USD	2 Qtrs
Net income (loss) per share basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.48	USD	1 Quarter
Net income (loss) per share basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.13	USD	1 Quarter
Net income (loss) per share basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.61	USD	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	105.45M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	105.46M	shares	2 Qtrs

Cash Flow Statement 27 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$64.12M	USD	2 Qtrs
Deferred and non-current income taxes	`DeferredIncomeTaxesAndTaxCredits`	$29.08M	USD	2 Qtrs
Loss (gain) on sale of oil and gas properties	`GainLossOnSaleOfProperty`	$155.00K	USD	2 Qtrs
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$53.94M	USD	2 Qtrs
(Gain) loss on derivative financial instruments	`GainLossOnSaleOfCommodityContracts`	$10.46M	USD	2 Qtrs
Cash settlements of derivative financial instruments	`DerivativeCashPaidReceivedOnHedge`	$5.58M	USD	2 Qtrs
Amortization of debt discount, premium and issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$2.40M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$994.00K	USD	2 Qtrs
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$61.05M	USD	2 Qtrs
Decrease (increase) in other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$12.53M	USD	2 Qtrs
Increase (decrease) in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$41.53M	USD	2 Qtrs
Net cash provided by (used for) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$102.30M	USD	2 Qtrs
Acquisitions and capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$169.79M	USD	2 Qtrs
Advance payments for drilling costs	`AdvancePaymentsForDrillingCosts`	$5.64M	USD	2 Qtrs
Proceeds from sales of oil and gas properties	`ProceedsFromPaymentsForSaleOfOilAndGasProperties`	$13.80M	USD	2 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-161.63M	USD	2 Qtrs
Borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$450.00M	USD	2 Qtrs
Payments to retire debt	`PaymentsToRetireDebt`	$1.29B	USD	2 Qtrs
Jones contribution	`ProceedFromContributionTransaction`	$40.74M	USD	2 Qtrs
Debt and equity issuance costs	`PaymentOfFinancingAndStockIssuanceCosts`	$6.35M	USD	2 Qtrs
Income tax withholdings related to equity awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$4.70M	USD	2 Qtrs
Net cash provided by (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-811.66M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-870.99M	USD	2 Qtrs
Cash and cash equivalents, beginning of the year	`CashAndCashEquivalentsAtCarryingValue`	$23.19M	USD	Point-in-time
Cash and cash equivalents, beginning of the year	`CashAndCashEquivalentsAtCarryingValue`	$894.19M	USD	Point-in-time
Cash and cash equivalents, end of the year	`CashAndCashEquivalentsAtCarryingValue`	$23.19M	USD	Point-in-time
Cash and cash equivalents, end of the year	`CashAndCashEquivalentsAtCarryingValue`	$894.19M	USD	Point-in-time

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$569.57M	USD	Point-in-time
Successor common stock, Value	`IssuanceOfSuccessorCommonStockValue`	$140.53M	USD	Point-in-time
Vesting of equity awards	`StockIssuedValueVestingOfEquityAwards`	$8.83M	USD	Point-in-time
Jones contribution	`StockIssuedValueContributionTransaction`	$360.19M	USD	Point-in-time
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$994.00K	USD	2 Qtrs
Income tax withholdings related to equity awards	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$4.70M	USD	2 Qtrs
Common stock warrants exercised, Shares	`StockAndWarrantsExercisedDuringPeriodSharesPreferredStockAndWarrants`	402,708.00	shares	Annual
Stock issuance costs	`StockIssuanceCostsDuringPeriodValueContributionTransaction`	$395.00K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$13.82M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$50.30M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$64.12M	USD	2 Qtrs
Ending Balance	`StockholdersEquity`	$569.57M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.