Comstock released its second quarter 2014 results on August 4, 2014. Highlights of our second quarter results include:
·       Oil production increased 102% in the quarter which drove large increases in our revenues, EBITDAX and cash flow.
§  Oil & gas sales of $155.7 million were up 44% over 2013’s second quarter.
§  EBITDAX of $121.3 million was 45% higher than 2013’s second quarter.
§  Cash flow from operations grew 63% to $107.5 million or $2.29 per share.

·       Net income, excluding non-recurring items, was $5.9 million or 12¢ per share for the quarter.

·       We drilled 21 successful Eagle Ford wells and put 19 new Eagle Ford shale wells on production in the quarter.
·       Recent developments in our two new ventures – the East Texas Eagle Ford and the TMS include:
§  The first East Texas Eagle Ford well, the Henry A#1 was very successful with an initial production rate of 1,267 BOE per day.
§  Our acreage position in the Tuscaloosa Marine Shale has increased to over 60,000 net acres.

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Gary H. Guyton
5300 Town and Country Blvd.
Suite 500
Frisco, Texas 75034
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5300 Town and Country Blvd.
Suite 500
Frisco, Texas 75034
(972) 668-8800

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