Comstock Resources, Inc. (CRK)

Comstock Resources, Inc. (CRK) is a leading independent natural gas producer headquartered in Frisco, Texas, specializing in the development of the Haynesville Shale and Bossier Shale in North Louisiana and East Texas. Led by Chairman and CEO M. Jay Allison, Comstock’s strategic mission is to "deliver superior long-term returns to shareholders through the low-cost development of our premier natural gas inventory." As the largest operator in the Haynesville Shale, the company holds a dominant industry position, providing critical fuel for the growing U.S. Gulf Coast LNG export market. The company’s vision is to be the lowest-cost producer of responsibly sourced natural gas in North America. In late 2025, CRK stock has seen a dramatic valuation re-rating, with the CRK stock price reflecting the company’s successful deleveraging and its strategic pivot toward the Western Haynesville, where it has expanded its footprint to over 250,000 net acres.

The business operations of Comstock Resources, Inc. are almost exclusively focused on natural gas, which accounts for over 99% of its total production. In the first half of 2025, the company reported natural gas sales of $751.5 million and total production exceeding 227 Bcfe. A primary growth driver is the "Western Haynesville Play," where Comstock is utilizing industry-leading 15,000-foot lateral wells to achieve record-breaking initial production rates. The 2026 strategic roadmap centers on "Infrastructure Expansion," including the development of a proprietary midstream system to lower gathering and processing costs. Comstock holds a "Geographic Moat" due to its proximity to the Henry Hub and major LNG terminals, which ensures it receives premium pricing relative to inland producers. With a strong hedging program that covers a significant portion of its 2025 and 2026 production, the company is well-protected against short-term price volatility while maintaining full exposure to the structural growth of global gas demand.

Investors tracking Comstock Resources, Inc. (CRK) on the New York Stock Exchange (NYSE) have noted the company’s ability to generate $448.6 million in operating cash flow during the first six months of 2025. The CRK stock is often categorized as a high-beta play on natural gas prices, yet its technical execution in "Long-Lateral Drilling" has provided a margin of safety that peers struggle to match. As the company continues to optimize its drilling efficiency and reduce greenhouse gas emissions through its partnership with Project Canary, the CRK stock price remains a key indicator for the health of the North American shale gas sector.