Comstock Resources (CRK) Fell This Week. Here is Why

Comstock Resources, Inc. (NYSE:CRK) is simply a starring autarkic earthy state shaper with operations focused connected the improvement of the Haynesville shale successful North Louisiana and East Texas.

Comstock Resources, Inc. (NYSE:CRK) continued its autumn pursuing the caller plunge successful earthy state prices. US earthy state futures are presently hovering adjacent a 4-month debased of conscionable nether $3 per MMBtu, down 43% since January 22. The downturn has been driven by a operation of factors, including a milder displacement successful upwind starring to a reduced request for heating, a surge successful production, and smaller-than-normal retention withdrawals.

The mean earthy state output successful the Lower 48 states has grown to 108.7 cardinal cubic feet per time (bcfd) truthful acold successful February, up from 106.3 bcfd past month. Meanwhile, the US Energy Information Administration reported a 144 bcf withdrawal for the week ended February 13, somewhat beneath the 5-year mean and the 182 bcf withdrawal from a twelvemonth ago.

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