$CRK
COMSTOCK RESOURCES INC

2019 Q4 Form 10-Q Financial Statement

#000156459019042984 Filed on November 12, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q4
Revenue $289.2M $224.4M $153.5M
YoY Change 88.44% 220.07% 109.7%
Cost Of Revenue $69.20M $59.50M $27.90M
YoY Change 148.03% 172.94% 75.47%
Gross Profit $220.0M $165.0M $125.6M
YoY Change 75.16% 103.7% 119.2%
Gross Profit Margin 76.06% 73.51% 81.83%
Selling, General & Admin $6.500M $8.100M $8.100M
YoY Change -19.75% 28.57% 15.71%
% of Gross Profit 2.95% 4.91% 6.45%
Research & Development $0.00 $200.0K
YoY Change
% of Gross Profit 0.0% 0.12%
Depreciation & Amortization $111.8M $80.25M $36.10M
YoY Change 209.7% 469.86% 17.97%
% of Gross Profit 50.82% 48.63% 28.74%
Operating Expenses $118.4M $148.1M $44.20M
YoY Change 167.87% 507.9% 17.55%
Operating Profit $101.7M $76.36M $81.45M
YoY Change 24.84% 120.81% -436.24%
Interest Expense -$34.30M $51.02M -$16.30M
YoY Change 110.43% 130.42% -55.95%
% of Operating Profit -33.73% 66.81% -20.01%
Other Income/Expense, Net $300.0K -$65.72M $100.0K
YoY Change 200.0% 168.38% 0.0%
Pretax Income $67.70M $10.64M $65.30M
YoY Change 3.68% -165.42% -206.87%
Income Tax $12.60M $3.847M $16.40M
% Of Pretax Income 18.61% 36.16% 25.11%
Net Earnings $55.12M $6.791M $50.30M
YoY Change 9.58% -50.87% -218.92%
Net Earnings / Revenue 19.05% 3.03% 32.77%
Basic Earnings Per Share $0.22 -$0.01
Diluted Earnings Per Share $0.19 -$0.01 $476.8K
COMMON SHARES
Basic Shares Outstanding 190.0M 171.5M shares 105.9M
Diluted Shares Outstanding 171.5M shares

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $18.50M $53.20M $23.20M
YoY Change -20.26% 67.3% -62.15%
Cash & Equivalents $18.53M $53.24M $23.19M
Short-Term Investments
Other Short-Term Assets $10.40M $13.10M $13.83M
YoY Change -24.8% -31.4% 237.29%
Inventory
Prepaid Expenses
Receivables $120.1M $97.75M $87.61M
Other Receivables $5.200M $5.100M $10.20M
Total Short-Term Assets $289.7M $268.4M $159.4M
YoY Change 81.7% 104.1% -47.3%
LONG-TERM ASSETS
Property, Plant & Equipment $4.009B $3.917B $1.668B
YoY Change 140.34% 145.8% 174.38%
Goodwill $335.9M $335.9M $335.9M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $231.0K $3.000K $2.000K
YoY Change 11450.0% -99.4% -99.78%
Total Long-Term Assets $4.367B $4.284B $2.028B
YoY Change 115.31% 118.24% 223.05%
TOTAL ASSETS
Total Short-Term Assets $289.7M $268.4M $159.4M
Total Long-Term Assets $4.367B $4.284B $2.028B
Total Assets $4.657B $4.552B $2.188B
YoY Change 112.86% 117.36% 135.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $253.0M $231.7M $138.8M
YoY Change 82.32% 86.86% 10.13%
Accrued Expenses $137.2M $155.8M $68.09M
YoY Change 101.46% 192.23% 60.2%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $392.4M $389.5M $206.9M
YoY Change 89.69% 116.25% 22.76%
LONG-TERM LIABILITIES
Long-Term Debt $2.500B $2.508B $1.244B
YoY Change 100.92% 101.81% 12.05%
Other Long-Term Liabilities $6.351M $8.352M $5.100M
YoY Change 24.53% 77.7% -50.96%
Total Long-Term Liabilities $2.506B $2.516B $1.244B
YoY Change 101.43% 101.72% 11.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $392.4M $389.5M $206.9M
Total Long-Term Liabilities $2.506B $2.516B $1.244B
Total Liabilities $3.135B $3.107B $1.618B
YoY Change 93.7% 97.49% 24.51%
SHAREHOLDERS EQUITY
Retained Earnings $138.6M $97.77M $64.12M
YoY Change 116.14%
Common Stock $95.00M $92.76M $505.4M
YoY Change -81.2%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.143B $1.070B $569.6M
YoY Change
Total Liabilities & Shareholders Equity $4.657B $4.552B $2.188B
YoY Change 112.86% 117.36% 135.15%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q4
OPERATING ACTIVITIES
Net Income $55.12M $6.791M $50.30M
YoY Change 9.58% -50.87% -218.92%
Depreciation, Depletion And Amortization $111.8M $80.25M $36.10M
YoY Change 209.7% 469.86% 17.97%
Cash From Operating Activities $168.4M $109.8M $98.70M
YoY Change 70.62% 2942.39% 17.78%
INVESTING ACTIVITIES
Capital Expenditures -$178.1M -$130.9M -$110.8M
YoY Change 60.74% -321.8% 130.83%
Acquisitions
YoY Change
Other Investing Activities $100.0K -$692.7M -$800.0K
YoY Change -112.5% -9460.81%
Cash From Investing Activities -$177.9M -$823.6M -$111.5M
YoY Change 59.55% 1545.69% 132.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -25.20M 720.3M 4.300M
YoY Change -686.05% -188.28%
NET CHANGE
Cash From Operating Activities 168.4M 109.8M 98.70M
Cash From Investing Activities -177.9M -823.6M -111.5M
Cash From Financing Activities -25.20M 720.3M 4.300M
Net Change In Cash -34.70M 6.500M -8.500M
YoY Change 308.24% -100.75% -123.74%
FREE CASH FLOW
Cash From Operating Activities $168.4M $109.8M $98.70M
Capital Expenditures -$178.1M -$130.9M -$110.8M
Free Cash Flow $346.5M $240.7M $209.5M
YoY Change 65.39% -534.41% 58.95%

Facts In Submission

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CY2019Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.01
CY2018Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.13
CY2018Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.09
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.26
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-6.08
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
171487000
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
105448000
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15468000
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
171487000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
15262000
CY2019Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
648000
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
13575000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
583794000
CY2019Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
623000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
21407000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
605824000
CY2019Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
467808000
CY2019Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1088000
CY2019Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
167000
CY2019Q3 crk Adjustments To Additional Paid In Capital Decrease In Jones Contribution Adjustment Of Common Stock
AdjustmentsToAdditionalPaidInCapitalDecreaseInJonesContributionAdjustmentOfCommonStock
1969000
CY2019Q3 crk Equity Issuance Costs During Period Value
EquityIssuanceCostsDuringPeriodValue
-1049000
CY2019Q3 crk Temporary Equity Dividends On Temporary Equity Value
TemporaryEquityDividendsOnTemporaryEquityValue
8128000
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
-369272000
CY2018Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1601000
CY2018Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
365000
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
-41886000
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
-409922000
CY2018Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1508000
CY2018Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
4000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
-34003000
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
-442421000
CY2018Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
803000
CY2018Q3 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
29000
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
-458454000
CY2018Q3 crk Issuance Of Successor Common Stock Value
IssuanceOfSuccessorCommonStockValue
140531000
CY2018Q3 crk Stock Issued Value Vesting Of Equity Awards
StockIssuedValueVestingOfEquityAwards
8826000
CY2018Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
4695000
CY2018Q3 crk Stock Issuance Costs During Period Value Contribution Transaction
StockIssuanceCostsDuringPeriodValueContributionTransaction
395000
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
521111000
us-gaap Profit Loss
ProfitLoss
41773000
CY2018Q3 us-gaap Profit Loss
ProfitLoss
13823000
us-gaap Profit Loss
ProfitLoss
-92754000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
15205000
CY2018Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
3883000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1052000
us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
-25000
CY2018Q3 us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
98000
us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
-35438000
us-gaap Gain Loss On Sale Of Commodity Contracts
GainLossOnSaleOfCommodityContracts
31945000
CY2018Q3 us-gaap Gain Loss On Sale Of Commodity Contracts
GainLossOnSaleOfCommodityContracts
-2015000
us-gaap Gain Loss On Sale Of Commodity Contracts
GainLossOnSaleOfCommodityContracts
881000
crk Derivative Cash Paid Received On Hedge
DerivativeCashPaidReceivedOnHedge
-33382000
CY2018Q3 crk Derivative Cash Paid Received On Hedge
DerivativeCashPaidReceivedOnHedge
-191000
crk Derivative Cash Paid Received On Hedge
DerivativeCashPaidReceivedOnHedge
-2842000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
9206000
CY2018Q3 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
822000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
29457000
us-gaap Paid In Kind Interest
PaidInKindInterest
25004000
us-gaap Share Based Compensation
ShareBasedCompensation
2359000
CY2018Q3 us-gaap Share Based Compensation
ShareBasedCompensation
329000
us-gaap Share Based Compensation
ShareBasedCompensation
3912000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-48404000
CY2018Q3 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
44884000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-2834000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-7137000
CY2018Q3 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1326000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-337000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-7424000
CY2018Q3 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
11034000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
10462000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
282806000
CY2018Q3 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
3609000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
85735000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
308742000
CY2018Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
59017000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
150106000
crk Payments To Acquire Business Net For Cash Acquired From Acquisition
PaymentsToAcquireBusinessNetForCashAcquiredFromAcquisition
693869000
crk Payments For Drilling Costs
PaymentsForDrillingCosts
-9319000
CY2018Q3 crk Payments For Drilling Costs
PaymentsForDrillingCosts
4768000
crk Payments For Drilling Costs
PaymentsForDrillingCosts
3692000
crk Proceeds From Payments For Sale Of Oil And Gas Properties
ProceedsFromPaymentsForSaleOfOilAndGasProperties
390000
CY2018Q3 crk Proceeds From Payments For Sale Of Oil And Gas Properties
ProceedsFromPaymentsForSaleOfOilAndGasProperties
13739000
crk Proceeds From Payments For Sale Of Oil And Gas Properties
ProceedsFromPaymentsForSaleOfOilAndGasProperties
103593000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-992902000
CY2018Q3 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-50046000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-50205000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
887000000
CY2018Q3 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
450000000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
865577000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
72000000
CY2018Q3 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
1291352000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
49679000
crk Repayments Of Lines Of Credit From Acquisition
RepaymentsOfLinesOfCreditFromAcquisition
533390000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
300000000
us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
175000000
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
8128000
CY2018Q3 us-gaap Proceeds From Contributions From Affiliates
ProceedsFromContributionsFromAffiliates
36365000
us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
8169000
CY2018Q3 us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
6288000
us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
18127000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
167000
CY2018Q3 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4695000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
369000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
740146000
CY2018Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-815970000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
797402000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
30050000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
832932000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
23193000
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-862407000
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
894187000
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
61255000
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
53243000
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
31780000
CY2018Q3 crk Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Property And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherPropertyAndEquipment
4440000
CY2018Q3 crk Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Income Taxes Receivable Noncurrent
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIncomeTaxesReceivableNoncurrent
19086000
CY2018Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Noncurrent Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets
2000
CY2018Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
2107303000
CY2018Q3 us-gaap Goodwill
Goodwill
335897000
CY2019Q3 crk Decrease In Deferred Income Tax Assets And Goodwill
DecreaseInDeferredIncomeTaxAssetsAndGoodwill
14300000
CY2018Q3 crk Stock Issued During Period Shares Contribution Transaction
StockIssuedDuringPeriodSharesContributionTransaction
88571429
CY2018Q3 us-gaap Equity Issued In Business Combination Fair Value Disclosure
EquityIssuedInBusinessCombinationFairValueDisclosure
149357000
CY2018Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilities
180452000
CY2018Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Noncurrent Liabilities Long Term Debt
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt
2059560000
CY2018Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Deferred Tax Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxLiabilities
49391000
CY2018Q3 crk Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Reserve For Future Abandonment Costs
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedReserveForFutureAbandonmentCosts
4440000
CY2018Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
2293843000
CY2018Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssets
936026000
CY2018Q3 crk Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Oil And Gas Properties
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOilAndGasProperties
1147749000
CY2018Q3 crk Stock Issued Ownership Percentage Contribution Transaction
StockIssuedOwnershipPercentageContributionTransaction
0.84
CY2019Q3 crk Purchase Price Allocation Period
PurchasePriceAllocationPeriod
P12M
CY2019Q3 crk Management Oil Price Outlook
ManagementOilPriceOutlook
74.80
CY2019Q3 crk Management Gas Price Outlook
ManagementGasPriceOutlook
3.32
CY2019Q3 crk Minimum Discount Factor To Future Net Cash Flows Percentage
MinimumDiscountFactorToFutureNetCashFlowsPercentage
0.10
CY2019Q3 crk Maximum Discount Factor To Future Net Cash Flows Percentage
MaximumDiscountFactorToFutureNetCashFlowsPercentage
0.25
crk Oil And Gas Properties Sold Oil And Gas Sales
OilAndGasPropertiesSoldOilAndGasSales
17747000
crk Oil And Gas Properties Sold Operating Expenses
OilAndGasPropertiesSoldOperatingExpenses
6134000
crk Oil And Gas Properties Sold Operating Income Loss
OilAndGasPropertiesSoldOperatingIncomeLoss
11613000
CY2019Q3 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0
CY2018Q3 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0
CY2019Q3 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.050
crk Prior Advance Notice Period For Cancellation Of Rig Contracts
PriorAdvanceNoticePeriodForCancellationOfRigContracts
P30D
CY2019Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
19814000
us-gaap Operating Lease Cost
OperatingLeaseCost
41012000
CY2019Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
500000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1997000
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.050
CY2019Q3 crk Expected Future Payments For Contracted Drilling Services
ExpectedFuturePaymentsForContractedDrillingServices
30600000
us-gaap Operating Lease Payments
OperatingLeasePayments
1500000
crk Contract Terms Related To Drilling Services
ContractTermsRelatedToDrillingServices
through April 2020
CY2019Q3 crk Accrued Drilling Costs
AccruedDrillingCosts
64838000
CY2018Q4 crk Accrued Drilling Costs
AccruedDrillingCosts
17920000
CY2019Q3 us-gaap Interest Payable Current
InterestPayableCurrent
30681000
CY2018Q4 us-gaap Interest Payable Current
InterestPayableCurrent
35461000
CY2019Q3 crk Accrued Transportation Costs
AccruedTransportationCosts
18686000
CY2018Q4 crk Accrued Transportation Costs
AccruedTransportationCosts
4632000
CY2019Q3 crk Accrued Transaction Costs
AccruedTransactionCosts
15475000
CY2019Q3 crk Accrued Lease Operating Expenses
AccruedLeaseOperatingExpenses
13577000
CY2018Q4 crk Accrued Lease Operating Expenses
AccruedLeaseOperatingExpenses
2130000
CY2019Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
8476000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1740000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
390000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
4127000
CY2019Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
218000
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
3909000
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y2M12D
CY2018Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
6045000
CY2019Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
4023000
CY2018Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1898000
CY2018Q3 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
4683000
crk Asset Retirement Obligation Liabilities For Wells Acquired
AssetRetirementObligationLiabilitiesForWellsAcquired
5374000
CY2018Q3 crk Asset Retirement Obligation Liabilities For Wells Acquired
AssetRetirementObligationLiabilitiesForWellsAcquired
45000
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
256000
CY2018Q3 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
10000
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
369000
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
40000
CY2018Q3 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
4738000
CY2019Q3 us-gaap Cash Flow Hedges Derivative Instruments At Fair Value Net
CashFlowHedgesDerivativeInstrumentsAtFairValueNet
0
crk Number Of Primary Products
NumberOfPrimaryProducts
2
crk Contract Cash Settlement Max Days
ContractCashSettlementMaxDays
P25D
crk Contract Cancellable Notice Term
ContractCancellableNoticeTerm
P30D
us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
-22000
us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
13000
us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
1246000
us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-1360000
CY2019Q3 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
3184000
CY2018Q3 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
3863000
CY2018Q3 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
936000
us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
13959000
us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
2412000
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2019Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2018Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2019Q3 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.018
CY2018Q3 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.020
CY2018Q3 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.045
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.039
CY2019Q3 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.045
CY2018Q3 crk Net Income Loss Available To Common Stockholders Basic Adjusted
NetIncomeLossAvailableToCommonStockholdersBasicAdjusted
13772000
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-1337000
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
13772000
CY2018Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
15000
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2018Q3 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.074
CY2018Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.13
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
CY2018Q3 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.006
us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.013
CY2018Q3 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.211
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.023
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.241
CY2019Q3 crk Effective Income Tax Rate Reconciliation Transaction Costs
EffectiveIncomeTaxRateReconciliationTransactionCosts
0.086
crk Effective Income Tax Rate Reconciliation Transaction Costs
EffectiveIncomeTaxRateReconciliationTransactionCosts
0.019
CY2019Q3 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.012
CY2018Q3 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.002
CY2018Q3 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.007
us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.015
us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.007
CY2019Q3 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.027
CY2019Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.362
CY2018Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.222
CY2018Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.037
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.267
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.012
crk Operating Losses Carryforward Indefinitely With No Carryback As Percentage Of Taxable Income
OperatingLossesCarryforwardIndefinitelyWithNoCarrybackAsPercentageOfTaxableIncome
0.80
crk Interest Expense Threshold Percentage Of Adjusted Taxable Income Beyond Which Interest Expense Is Deductible
InterestExpenseThresholdPercentageOfAdjustedTaxableIncomeBeyondWhichInterestExpenseIsDeductible
0.30
crk Refundable Unused Alternative Minimum Tax Credit Carryforward Percentage
RefundableUnusedAlternativeMinimumTaxCreditCarryforwardPercentage
0.50
crk Refundable Unused Alternative Minimum Tax Credit Carryforward Years
RefundableUnusedAlternativeMinimumTaxCreditCarryforwardYears
2018 through 2020
CY2019Q3 crk Unused Alternative Minimum Tax Credit Carryforwards
UnusedAlternativeMinimumTaxCreditCarryforwards
10200000
CY2019Q3 crk Refund Of Unused Alternative Minimum Tax Credit Carryforwards
RefundOfUnusedAlternativeMinimumTaxCreditCarryforwards
10200000
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
crk Net Operating Loss Limitation
NetOperatingLossLimitation
3300000
crk Period Of Increase In Net Operating Loss Limitation
PeriodOfIncreaseInNetOperatingLossLimitation
P5Y
crk Section382 Limitation Recognition Period
Section382LimitationRecognitionPeriod
2018 to 2023
crk Net Operating Loss Expiration Period
NetOperatingLossExpirationPeriod
P20Y
crk Performance Units Adjustment For Performance Multiplier Range Minimum
PerformanceUnitsAdjustmentForPerformanceMultiplierRangeMinimum
0.00
crk Performance Units Adjustment For Performance Multiplier Range Maximum
PerformanceUnitsAdjustmentForPerformanceMultiplierRangeMaximum
2.00
crk Participating Securities That Share In Losses
ParticipatingSecuritiesThatShareInLosses
0
crk Participating Securities That Share In Losses
ParticipatingSecuritiesThatShareInLosses
0
CY2018Q3 crk Net Income Loss Allocated To Unvested Restricted Shares
NetIncomeLossAllocatedToUnvestedRestrictedShares
-51000
CY2019Q3 crk Net Income Loss Available To Common Stockholders Basic Adjusted
NetIncomeLossAvailableToCommonStockholdersBasicAdjusted
-1337000
CY2018Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.13
crk Net Income Loss Allocated To Unvested Restricted Shares
NetIncomeLossAllocatedToUnvestedRestrictedShares
-141000
crk Net Income Loss Available To Common Stockholders Basic Adjusted
NetIncomeLossAvailableToCommonStockholdersBasicAdjusted
33504000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
33504000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.26
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.26
crk Temporary Equity Stock Earliest Conversion Date
TemporaryEquityStockEarliestConversionDate
2020-07-16
crk Temporary Equity Stock Conversion Price
TemporaryEquityStockConversionPrice
4.00
CY2019Q3 crk Temporary Equity Stock Common Shares If Converted
TemporaryEquityStockCommonSharesIfConverted
96250000
CY2019Q3 crk Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Option Nonvested Weighted Average Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionNonvestedWeightedAverageNumber
758000
CY2018Q3 crk Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Option Nonvested Weighted Average Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionNonvestedWeightedAverageNumber
396000
CY2018Q3 crk Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Option Nonvested Weighted Average Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionNonvestedWeightedAverageNumber
813000
crk Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Option Nonvested Weighted Average Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionNonvestedWeightedAverageNumber
539000
crk Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Option Nonvested Weighted Average Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionNonvestedWeightedAverageNumber
839000
us-gaap Interest Paid
InterestPaid
110820000
CY2018Q3 us-gaap Interest Paid
InterestPaid
1999000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2000
CY2019Q3 crk Antidilutive Securities Performance Share Units Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesPerformanceShareUnitsExcludedFromComputationOfEarningsPerShareAmount
862000
CY2018Q3 crk Antidilutive Securities Performance Share Units Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesPerformanceShareUnitsExcludedFromComputationOfEarningsPerShareAmount
315000
crk Antidilutive Securities Performance Share Units Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesPerformanceShareUnitsExcludedFromComputationOfEarningsPerShareAmount
513000
CY2019Q3 crk Antidilutive Securities Excluded From Computation Of Earnings Per Unit Weighted Average Grant Date Fair Value Price
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerUnitWeightedAverageGrantDateFairValuePrice
9.60
CY2018Q3 crk Antidilutive Securities Excluded From Computation Of Earnings Per Unit Weighted Average Grant Date Fair Value Price
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerUnitWeightedAverageGrantDateFairValuePrice
12.93
crk Antidilutive Securities Excluded From Computation Of Earnings Per Unit Weighted Average Grant Date Fair Value Price
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerUnitWeightedAverageGrantDateFairValuePrice
9.60
CY2018Q3 crk Antidilutive Securities Warrants For Common Stock Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesWarrantsForCommonStockExcludedFromComputationOfEarningsPerShareAmount
15000
crk Noncash Or Part Noncash Increase In Accrued Capital Expenditure
NoncashOrPartNoncashIncreaseInAccruedCapitalExpenditure
46918000
CY2018Q3 crk Noncash Or Part Noncash Increase In Accrued Capital Expenditure
NoncashOrPartNoncashIncreaseInAccruedCapitalExpenditure
16192000
us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
446625000
crk Noncash Or Part Noncash Acquisition Working Capital
NoncashOrPartNoncashAcquisitionWorkingCapital
41624000
CY2019Q3 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
26906000
CY2019Q3 crk Temporary Equity Stock Conversion Price
TemporaryEquityStockConversionPrice
4.00
CY2019Q3 crk Common Stock And Preferred Stock Shares Authorized
CommonStockAndPreferredStockSharesAuthorized
405000000
CY2019Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
400000000
CY2019Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.50
CY2019Q3 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
5000000
CY2019Q3 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
10.00
crk Stock And Warrants Exercised During Period Shares Preferred Stock And Warrants
StockAndWarrantsExercisedDuringPeriodSharesPreferredStockAndWarrants
246793
CY2019Q3 crk Payments Received From Related Parties
PaymentsReceivedFromRelatedParties
12100000
crk Payments Received From Related Parties
PaymentsReceivedFromRelatedParties
13700000
CY2019Q1 crk Wells To Be Drilled For Related Parties
WellsToBeDrilledForRelatedParties
6

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