Comstock Resources, Inc. (NYSE:CRK) Q3 2023 Earnings Call Transcript

Miles Allison: Perfect. Again, I want to thank everyone for spending time. That’s probably your most valuable asset. So thank you for spending the time with us. As I was listening to the Q&A and our presentation, even with weak natural gas prices, we reported solid results for the Western Haynesville shale drilling program. And just to clarify, our goal is we want to keep the dividend. We want to manage the balance sheet. We want to be a great partner to Quantum as we build the midstream in the Western Haynesville. We want to maintain an eye on appraising all of our Western Haynesville wells and we want to turn that play from exploitation to developmental drilling. And we want to adjust the risk by adding some hedges for 2024 if that opportunity arises.

As I was reading all the analyst reports, I know one of them was titled finding a dance partner for the Western Haynesville. Well, I would expand upon that on the dance floor. I think on the dance floor for Comstock right now, we have the Jones family and we have all the equity stakeholders with the Jones family. We have our bank sponsors. We have our bond holders and now we have Quantum. So the question is, what kind of dance is it? Is it a Texas 2-step? Is it a Jitterbug? Is it a Cotton Eye Joe? Well, we hope it is, over the years to come, is that old deal walls across Texas. That’s our goal. We may not be perfect with our feet every day, but that is our goal, and we’re pleased — the people around the globe and the consumers in America that need this gas.

That’s our goal. Thank you for that headline. And thank you for your participation today.

Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.