Comstock Resources, Inc. (NYSE:CRK) Q4 2023 Earnings Call Transcript

Paul Diamond: Understood. And just kind of circle back on that towards the Western Haynesville, the — as far as like drilling days and operational improvements, are we towards — you guys view, are we towards the end of those — of that improvement trend or is this kind of just a beginning?

Daniel Harrison: No, well, we’ve made some pretty good improvements, but we still got a lot of them in the pipeline coming. I mean, we’re in the middle of some of those right now and we definitely see a lot more days getting cut off these wells from even where we’re at today. As far as trying to say in the middle, I’d say maybe that’s probably, maybe somewhere in there in the middle. I mean, we’ve probably shaved off 20 days off these things since the first couple of wells we drilled and we still see that kind of potential going forward.

Paul Diamond: Got it. So another potential 20 days decline in drilling time?

Daniel Harrison: Yes, sir.

Paul Diamond: Good. Thanks for your time.

Operator: Thank you. This does conclude the question-and-answer session of today’s program. I’d like to hand the program back to Jay Allison for any further remarks.

Jay Allison: First of all, I’d like to thank all of you for your questions. They make us better managers. Hopefully, we had shown you that we’ve started and I think we’ve been very proactive to batten down the hatch to protect our balance sheet. We were very proactive on our operations arena to release the frac crew and two rigs. The underlying denominator of everything is stellar drilling performance and stellar inventory in our core area, and in that area we operate. And you look at the Western Haynesville, I mean, almost half our footprint corporately is in the Western Haynesville. Those wells look very promising. So, again, we know that it’s a stressful time, but we do want to assure you that we’re going to continue to manage this company with a steady hand. And we want to wish you all a Happy Valentine’s Day. So thank you for your time.

Operator: Thank you, ladies and gentlemen, for your participation in today’s conference. This does conclude the program. You may now disconnect. Good day.