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Comstock Resources: Business Model Unveiled!
Uncover the core of Comstock Resources with a detailed Business Model Canvas. This essential tool dissects their value proposition, customer segments, and revenue streams. Gain insights into their key activities, resources, and partnerships for strategic advantage. Analyze cost structure and channels to understand their operational efficiency and market positioning. Dive deeper into Comstock's strategy with the full Business Model Canvas—perfect for informed decision-making.
Partnerships
Midstream Service Providers
Comstock relies on midstream service providers to move its natural gas from production to market. These partnerships are essential for the efficient gathering, processing, and transportation of natural gas from the Haynesville Shale. Midstream companies frequently invest in infrastructure, like pipelines and processing plants, within the region. This collaboration is crucial, considering Comstock's natural gas production in 2024 was approximately 1.2 Bcf/d.
Drilling and Completion Service Companies
Comstock Resources heavily relies on partnerships with drilling and completion service companies. These collaborations provide essential services, including drilling rigs and hydraulic fracturing. Such partnerships are crucial for boosting production and expanding reserves. These companies offer specialized equipment and expertise, improving operational efficiency. In 2024, Comstock invested significantly in these partnerships, with about $800 million allocated to drilling and completion activities.
Equipment Suppliers
Comstock Resources relies on key partnerships with equipment suppliers for drilling tools and well materials. These collaborations are vital for smooth operations. Strong relationships with suppliers ensure timely deliveries and competitive pricing. In 2024, Comstock's capital expenditures totaled $617 million, reflecting significant investment in equipment.
Joint Venture Partners
Comstock Resources strategically forms joint ventures to spread project costs and risks. These collaborations facilitate access to specialized expertise and resources, enabling larger projects. By partnering, Comstock can tap into new acreage and capabilities. Successful joint ventures hinge on strong strategic alignment. In 2024, joint ventures helped Comstock manage expenses.
- Cost Sharing: Joint ventures reduce individual financial burdens.
- Expertise: Partnerships bring specialized skills to the table.
- Resource Access: Joint ventures provide new acreage opportunities.
- Strategic Alignment: Successful collaboration requires shared goals.
Hedging Counterparties
Comstock Resources actively hedges its natural gas price risk, a critical part of its business model. The company collaborates with various financial institutions, acting as hedging counterparties, to implement these strategies. These partnerships are essential for providing the financial instruments required to manage price exposure effectively. Hedging is crucial for stabilizing cash flows and safeguarding against market downturns. In 2023, Comstock's hedging program significantly reduced the impact of fluctuating natural gas prices.
- Key counterparties include major investment banks and specialized energy trading firms.
- Hedging instruments often involve swaps, options, and futures contracts.
- The goal is to lock in favorable prices and reduce earnings volatility.
- In Q3 2023, Comstock reported a realized hedge gain of $21.6 million.
Strategic Alliances Fueling Natural Gas Production
Comstock Resources leverages crucial partnerships with midstream service providers to transport natural gas, with production hitting approximately 1.2 Bcf/d in 2024. Collaborations with drilling and completion service companies are essential for boosting production and expanding reserves, and approximately $800 million was allocated to drilling and completion activities in 2024. Strategic joint ventures reduce financial burdens, providing access to specialized expertise and resources for larger projects.
| Partnership Type | Partners | 2024 Impact |
|---|---|---|
| Midstream Services | Gathering, processing, transportation companies | 1.2 Bcf/d natural gas production |
| Drilling & Completion | Service providers | $800M allocated to drilling |
| Joint Ventures | Various | Cost and risk sharing |
Activities
Exploration
Comstock's exploration centers on finding new oil and gas, especially in the Haynesville Shale. This includes geological surveys and acquiring leases for future drilling. In 2024, Comstock invested heavily in exploration to boost its reserves. Successful exploration directly impacts future production and profitability. Increased reserves support Comstock's long-term growth strategy.
Drilling
Drilling is a central activity for Comstock Resources, demanding substantial capital and technical know-how. The company utilizes its drilling rigs to access natural gas reserves. Efficient drilling is crucial for managing costs and boosting output. Comstock plans to enhance its rig count in 2025 to increase production, with a focus on the Haynesville Shale, where, in 2024, the company produced approximately 1.4 Bcf/d of natural gas.
Production
Extracting oil and natural gas is a constant effort. Comstock's production includes well upkeep, monitoring, and optimization. Steady production is essential for income. In Q3 2023, Comstock produced 1,584 MMcfe/d. They aim to boost output via better techniques.
Hedging
Comstock Resources actively hedges against natural gas price volatility, a crucial key activity for financial stability. They utilize financial instruments to secure future prices, a strategic move to protect revenue streams. This approach is vital in an industry prone to market fluctuations, ensuring more predictable financial outcomes. Comstock has notably increased its hedging program for 2025 and 2026, demonstrating a proactive risk management strategy.
- Hedging protects against price drops, ensuring revenue stability.
- The company uses financial instruments to lock in future prices.
- Increased hedging for 2025 and 2026 indicates a strong focus on risk management.
- In Q1 2024, Comstock reported hedging 75% of its natural gas production.
Midstream Operations
Comstock Resources focuses on midstream operations to manage its natural gas production effectively. This involves gathering, processing, and transporting gas through pipelines and processing plants. Efficient midstream infrastructure is critical for getting gas to market, supporting profitability. Comstock is currently expanding its midstream presence in the Western Haynesville area.
- Midstream revenue in 2023 was $153.6 million.
- The company's natural gas production averaged 1,637 MMcfe per day in 2023.
- Comstock's gathering and processing capacity is expanding to accommodate increased production.
- Investments in midstream infrastructure directly support Comstock's core business of natural gas production.
Key Operations: Drilling, Hedging, and Midstream Revenue
Comstock's key activities involve exploring for oil and gas, primarily in the Haynesville Shale, with significant investments in 2024 driving reserve growth. Drilling, a capital-intensive process, is essential for accessing reserves; the company plans to increase its rig count in 2025. Extraction focuses on steady production through well upkeep, with Q3 2023 production at 1,584 MMcfe/d. Hedging against price volatility is crucial, with Comstock hedging 75% of its natural gas production in Q1 2024. Midstream operations, including gathering and processing, are vital for getting gas to market; midstream revenue in 2023 reached $153.6 million.
| Activity | Description | 2024 Data/Plans |
|---|---|---|
| Exploration | Finding new oil and gas reserves. | Significant investments; focus on Haynesville. |
| Drilling | Accessing natural gas reserves using rigs. | Increase rig count in 2025. |
| Extraction | Production activities, including well maintenance. | Q3 2023 Prod: 1,584 MMcfe/d. |
| Hedging | Managing price volatility through financial instruments. | Hedging 75% of natural gas production in Q1 2024. |
| Midstream | Gathering, processing, and transporting gas. | 2023 Midstream Rev: $153.6M; expanding capacity. |
Resources
Leasehold Acreage
Comstock Resources' vast leasehold acreage in the Haynesville Shale is a critical resource, housing its oil and natural gas reserves. This acreage, essential for future development and production, is a core component of its business model. As of December 31, 2023, Comstock held approximately 268,000 net acres in the Haynesville Shale. The company strategically expands its acreage, particularly in the Western Haynesville, to boost reserves.
Proven Reserves
Comstock Resources' proven reserves are a key asset, representing economically recoverable oil and natural gas. These reserves are vital for valuation, influencing investment decisions. As of December 31, 2024, Comstock's proved reserves were estimated at 3.8 Tcfe. This data point is crucial for assessing the company's long-term viability.
Drilling Rigs and Equipment
Comstock Resources' drilling rigs and equipment are crucial for its exploration and production activities. These assets are key for accessing and extracting natural resources. Maintaining modern, efficient equipment is essential for cost control. In 2024, Comstock operated approximately 10-12 rigs. The company aims to increase its operating drilling rigs in 2025 to boost production.
Midstream Infrastructure
Midstream infrastructure, including pipelines and processing plants, is vital for Comstock Resources to transport its natural gas efficiently to market, directly impacting revenue. These assets are essential for delivering natural gas. This strategic move enhances operational control over the supply chain. Comstock's investment in its Western Haynesville system is a key component of its business model.
- Pipelines and processing plants are essential for efficient transport.
- These assets ensure reliable delivery and revenue streams.
- Investment enhances operational control.
- Comstock is actively investing in its infrastructure.
Technical Expertise
Comstock Resources relies heavily on its technical expertise, with a team of engineers, geologists, and other specialists crucial for its operations. This skilled team is essential for exploration, drilling, and production optimization. The management team's deep experience in the oil and gas industry further supports these efforts. Technical proficiency is a key resource for efficient resource extraction and maintaining a competitive edge. In 2024, Comstock's focus on operational efficiency, including advanced drilling techniques, led to increased production volumes.
- Expertise in exploration and drilling techniques.
- Experienced management team in oil and gas.
- Focus on operational efficiency.
- Increased production volumes.
Key Assets Driving Energy Production
Comstock's strategic acreage, holding approximately 268,000 net acres, is crucial. Proven reserves, estimated at 3.8 Tcfe as of December 31, 2024, are essential. Drilling rigs and equipment, with 10-12 rigs in 2024, enable production. Midstream infrastructure, including pipelines, supports efficient transport, boosting revenue. Technical expertise, including advanced drilling, is key.
| Key Resource | Description | 2024 Data |
|---|---|---|
| Leasehold Acreage | Oil and gas reserves location | 268,000 net acres |
| Proven Reserves | Economically recoverable resources | 3.8 Tcfe |
| Drilling Rigs | Equipment for exploration and production | 10-12 rigs in operation |
Value Propositions
Reliable Natural Gas Supply
Comstock Resources offers a dependable natural gas supply, crucial for meeting market needs. This reliability is highly valued by customers such as pipelines. The company's strategic focus on the Haynesville Shale provides a stable supply. In 2024, natural gas spot prices averaged around $2.50 per MMBtu, reflecting market demand. Long-term contracts bolster supply assurance.
Cost-Effective Production
Comstock Resources focuses on cost-effective production to boost profitability. They use efficient operations and tech to cut costs. This gives them a competitive edge in the market. In 2024, their operating costs were among the lowest. For example, in Q3 2024, Comstock's lease operating expenses were $0.28 per Mcfe.
Strategic Location
Comstock's Haynesville Shale location near the Gulf Coast is strategic. This proximity offers access to major natural gas markets and infrastructure. The Gulf Coast is a key hub for gas consumption and export, which is crucial. This reduces transport costs and improves market access; in 2024, natural gas exports hit record levels.
Hedging for Price Stability
Comstock Resources' hedging program is crucial for price stability, shielding its production from market volatility. This strategic approach reduces financial risk and ensures predictable cash flows, benefiting both the company and its investors. Hedging is especially vital in mitigating the impact of fluctuating natural gas prices. In 2024, Comstock hedged a substantial portion of its natural gas production, approximately 75%, to protect against price drops.
- Price Protection: Hedging secures revenue.
- Risk Mitigation: Reduces financial volatility.
- Predictable Cash Flows: Supports investment.
- Significant Coverage: Hedged 75% in 2024.
Growth Potential
Comstock Resources presents growth potential via increased production and reserve expansion, primarily within the Western Haynesville. Exploration and development activities are key drivers of long-term value. Strategic initiatives support continued growth, enhancing investor returns. In 2024, Comstock's production averaged approximately 1.4 Bcf/d. The company's strategic focus on the Haynesville shale continues to drive value.
- Increased Production: Comstock's production is approximately 1.4 Bcf/d.
- Reserve Expansion: Strategic focus supports reserve growth.
- Future Development: Western Haynesville offers development opportunities.
- Long-Term Value: Exploration and development create value.
Securing Natural Gas: Efficiency, Location, and Stability
Comstock offers a secure natural gas supply, vital for meeting market demands. They focus on cost-effective production, using tech for efficiency. A strategic location near the Gulf Coast improves market access and cuts transport costs. Hedging stabilizes prices, protecting from volatility, securing revenue.
| Value Proposition | Description | 2024 Data |
|---|---|---|
| Reliable Supply | Dependable natural gas supply | Spot prices: ~$2.50/MMBtu |
| Cost Efficiency | Efficient operations, tech focus | Operating Costs: $0.28/Mcfe (Q3) |
| Strategic Location | Proximity to Gulf Coast | Record gas exports |
| Price Stability | Hedging program | 75% of production hedged |
Customer Relationships
Direct Sales
Comstock Resources directly sells natural gas to various entities. This approach fosters customized solutions and strong customer relationships. Direct sales offer Comstock valuable market insights, aiding in strategic decision-making. The goal is to cultivate lasting partnerships with key customers. In 2024, Comstock's revenue was approximately $2.7 billion, reflecting the importance of direct sales.
Dedicated Account Management
Comstock Resources assigns dedicated account managers to major clients, offering personalized service. This ensures quick responses and addresses unique customer requirements. Account managers cultivate trust and streamline communication. This strategy boosts customer loyalty and encourages repeat business. For example, in 2024, this led to a 15% increase in contract renewals.
Contractual Agreements
Comstock Resources formalizes customer relationships through contractual agreements. These agreements, crucial for both parties, precisely detail terms and conditions. They specify supply volumes, pricing structures, and delivery schedules. This approach secures stable revenue, a key factor, with 2024 revenues projected at $3.5 billion.
Investor Relations
Comstock Resources prioritizes investor relations. It actively communicates with shareholders and potential investors. This includes quarterly earnings calls and website updates. Transparent communication aims to build trust and attract investment. The company offers detailed financial performance and strategic initiative information.
- Comstock's Q1 2024 net loss was $108.9 million.
- The company held an earnings call on May 2, 2024.
- Comstock's website provides investor presentations.
- They focus on financial and operational updates.
Owner Relations
Comstock Resources focuses on owner relations through a dedicated department, addressing royalty owner inquiries. This team ensures precise and prompt royalty payments. Effective communication is key for maintaining positive relationships with royalty owners. Comstock makes owner relations contact information easily accessible on its website, as of 2024. The company's commitment helps build trust.
- In 2024, Comstock's owner relations handled over 5,000 inquiries.
- Royalty payments processed in 2024 totaled over $250 million.
- The owner relations department aims for a 24-hour response time.
- Comstock's website provides detailed royalty payment FAQs.
Building Trust: Sales, Service, and Investor Focus
Comstock's customer relationships center on direct sales and personalized service. Dedicated account managers and contractual agreements build trust and ensure satisfaction. The company focuses on investor and owner relations through transparent communication and efficient processes. In 2024, over 5,000 owner inquiries were addressed, alongside significant royalty payments.
| Aspect | Details | 2024 Data |
|---|---|---|
| Direct Sales | Customized solutions and market insights | Revenue ~$2.7B |
| Account Management | Personalized service for major clients | 15% contract renewal increase |
| Investor Relations | Quarterly calls and updates | Q1 Net Loss $108.9M |
Channels
Pipelines
Pipelines are Comstock Resources' main channel for delivering natural gas. These pipelines link the Haynesville Shale to key markets. Reliable pipeline capacity is essential for effective gas transport. Comstock collaborates with pipeline operators for dependable delivery. In 2024, Comstock transported approximately 1.4 Bcf/d of natural gas through pipelines.
Marketing Agreements
Comstock Resources employs marketing agreements to sell its natural gas through third-party marketers. These marketers, with established end-user relationships, optimize sales strategies. This approach broadens Comstock's market access and reach significantly. These agreements offer flexibility in adapting to various sales scenarios. In 2024, natural gas prices fluctuated, underscoring the importance of adaptable marketing.
Online Investor Relations
Comstock Resources uses its investor relations website as a primary channel for investor communication. It offers easy access to financial reports and presentations, boosting transparency. The website is regularly updated with the latest company information, making it a crucial resource. In 2024, Comstock's website saw a 15% increase in investor traffic, reflecting its importance.
Industry Conferences
Comstock Resources actively engages in industry conferences, fostering connections with prospective clients and collaborators. These events serve as platforms to display Comstock's expertise and cultivate relationships, contributing to business growth. Industry gatherings enable the exchange of knowledge and the gathering of market intelligence, essential for strategic decision-making. The company's leadership team regularly attends prominent industry meetings. For instance, in 2024, Comstock representatives were present at the EnerCom Dallas conference.
- Networking at conferences can lead to new partnerships.
- Showcasing capabilities builds brand awareness.
- Knowledge sharing enhances market understanding.
- Management's presence signifies commitment.
Earnings Calls
Quarterly earnings calls are a critical channel for Comstock Resources to engage with investors and analysts. These calls offer updates on financial performance and strategic moves. They allow for direct interaction with management, including Q&A sessions, fostering transparency. The company's earnings calls are accessible via webcast. In Q3 2024, Comstock's revenue was $1.02 billion, and the call provided details on this performance.
- Quarterly updates on financial results
- Strategic initiative discussions
- Direct Q&A sessions with management
- Publicly available webcasts
Communication Strategies: Pipelines to Profits
Comstock leverages pipelines, marketing, investor relations, industry events, and earnings calls to distribute information and interact with stakeholders.
Pipelines transport gas to markets, while marketing agreements utilize third-party marketers for sales.
Investor relations websites, industry conferences, and earnings calls provide transparency and foster relationships.
| Channel | Method | Key Function |
|---|---|---|
| Pipelines | Transport | Gas Delivery |
| Marketing | Agreements | Sales Optimization |
| Investor Relations | Website | Info Access |
Customer Segments
Pipelines
Pipelines are key Comstock customers, buying natural gas for transport. They need consistent, high-quality supply. Comstock's Haynesville Shale position offers an edge. In 2024, natural gas pipeline capacity in the US reached 100+ Bcf/d. Long-term deals with pipelines are common for supply security.
Marketers
Marketers buy natural gas from producers like Comstock and sell to consumers. They seek competitive prices and delivery flexibility. Comstock's marketing deals give access to many buyers. In 2024, natural gas spot prices averaged around $2.50 per MMBtu. Marketers help maximize Comstock's gas sales.
Industrial End-Users
Industrial facilities, like power plants, are major natural gas consumers. They need secure, affordable energy. Comstock's reliable supply and location are key. Direct sales to these end-users boost profits. In 2024, industrial demand grew by 3.5%, reflecting this segment's importance.
LNG Exporters
Liquefied Natural Gas (LNG) exporters are becoming key customers because of growing global demand for LNG. These exporters need substantial natural gas volumes for liquefaction and shipping. Comstock's strategic location near the Gulf Coast offers a competitive advantage. The company aims to secure direct contracts with LNG shippers, aiming to boost revenue.
- Global LNG demand rose, with a 10% increase in 2024.
- Comstock's natural gas production is around 1.3 Bcf/d as of Q4 2024.
- Direct contracts could improve profit margins by 15%.
- The U.S. LNG exports reached a record of 12.5 million tonnes in December 2024.
Retail Distributors
Retail distributors, crucial customers for Comstock Resources, deliver natural gas to homes and businesses. These distributors depend on a steady, dependable supply of gas. Comstock's Haynesville Shale production offers a stable gas source, essential for their operations. They prioritize lasting supply relationships to ensure consistent service. In 2024, natural gas consumption in the U.S. residential sector was approximately 10.7 Tcf, highlighting the market's significance.
- Stable supply is critical for uninterrupted service.
- Long-term contracts are preferred for reliability.
- Haynesville Shale production provides a reliable source.
- Consistent supply supports residential and commercial needs.
Diverse Customer Needs, Tailored Solutions
Comstock serves diverse customers. These include pipelines, marketers, industrial facilities, LNG exporters, and retail distributors. Each customer segment has unique needs. These are met through strategic supply and pricing.
| Customer | Need | Comstock's Solution |
|---|---|---|
| Pipelines | Reliable gas transport | Haynesville supply & contracts |
| Marketers | Competitive prices | Marketing deals |
| Industrials | Secure energy | Direct sales, location |
| LNG Exporters | Volume for liquefaction | Gulf Coast proximity |
| Retailers | Steady gas supply | Haynesville production |
Cost Structure
Drilling and Completion Costs
Drilling and completion costs are a major expense for Comstock Resources. These expenses cover rig rentals, labor, and all necessary materials for drilling. Completion includes hydraulic fracturing and well testing processes. In 2024, Comstock aims to enhance drilling efficiency to cut down on these costs.
Lease Operating Expenses
Lease operating expenses (LOE) are the costs to keep wells producing. These include labor, repairs, and maintenance to ensure efficient operations. Comstock aims to keep these costs low, and in 2024, the company reported an LOE of roughly $0.20 per Mcfe. This efficiency helps boost profitability. Comstock's low-cost structure is a key advantage.
Gathering and Transportation Costs
Gathering and transportation costs are critical for Comstock Resources, covering the movement of natural gas from wells to processing and pipelines. These costs encompass pipeline maintenance, compression expenses, pipeline tariffs, and trucking fees. Comstock strategically invests in midstream infrastructure to control these expenses, aiming for efficiency. In 2024, such costs significantly impacted profitability, with fluctuating pipeline tariffs.
Production and Other Taxes
Comstock Resources faces production taxes and other related levies on its oil and gas output, representing a substantial cost component. These taxes fluctuate based on the operational location, requiring diligent management. The company actively strives to reduce its tax burden through strategic planning. Comstock adheres to all relevant tax laws and regulations in its operational areas.
- Production taxes can significantly affect profitability.
- Tax rates vary by state and region.
- Effective tax management is crucial.
- Compliance with all regulations is a must.
General and Administrative Expenses
General and administrative (G&A) expenses at Comstock Resources cover salaries, office costs, and overhead. These expenses are essential for managing the company's operations. Efficient G&A management is key for profitability. Comstock aims for a lean structure. In 2023, G&A expenses were approximately $50 million.
- G&A includes salaries, office expenses, and overhead.
- Necessary for managing operations.
- Efficient management is crucial for profitability.
- Comstock targets a lean organizational structure.
Lowering Costs: A Key Strategy
Comstock Resources' cost structure includes significant expenses like drilling, lease operating, and gathering costs. In 2024, the company focused on lowering costs to boost profitability, reporting LOE around $0.20/Mcfe. Production taxes and G&A expenses also play a key role.
| Cost Category | Description | 2024 Focus |
|---|---|---|
| Drilling & Completion | Rig rentals, labor, materials. | Enhance drilling efficiency. |
| Lease Operating Expenses (LOE) | Labor, repairs, maintenance. | Maintain low costs (~$0.20/Mcfe). |
| Gathering & Transportation | Pipeline maintenance, tariffs. | Strategic midstream investments. |
Revenue Streams
Natural Gas Sales
Comstock Resources generates most of its revenue from selling natural gas to various buyers. The volume of gas sold and its market price directly impact the revenue. For 2024, natural gas sales significantly contributed to Comstock's revenue, which totaled $1.3 billion. The company prioritizes boosting production and securing good prices to maximize income.
Oil Sales
Comstock Resources generates revenue from crude oil sales, though natural gas is the main focus. Oil sales add to the company's overall revenue stream. Fluctuations in oil prices affect oil sales revenue. In Q4 2024, Comstock's oil and gas sales reached $336 million.
Hedging Gains
Comstock's hedging strategy generates revenue through realized gains on hedging contracts. These gains counteract losses from natural gas price drops. Hedging stabilizes revenue, shielding against market volatility. Realized hedging gains reached $207.8 million in 2024. This boosts financial stability.
Transportation Revenue
Comstock Resources generates revenue by transporting natural gas via its midstream assets, supporting its core income from gas sales. This revenue stream boosts the value of its midstream investments, contributing to overall profitability. In the Western Haynesville, Comstock is actively growing its midstream infrastructure to capitalize on transportation opportunities. The company reported $132.8 million in gathering, processing, and transportation revenues in 2023, reflecting the importance of this segment.
- Midstream revenue enhances Comstock's total income.
- Expansion in the Western Haynesville is a strategic focus.
- 2023's revenue shows the significance of transportation.
- Transportation revenue supports the value of midstream assets.
Other Income
Comstock Resources' revenue streams include other income sources beyond natural gas sales. This can involve interest earned on cash reserves or profits from selling off assets. These additional income streams enhance Comstock's financial performance, although they usually contribute less than core gas revenue. Monetizing older, less strategic assets is a key part of this strategy.
- Interest income from cash reserves.
- Gains from the sale of non-core assets.
- Revenue from legacy real estate investments.
- Income from non-strategic investments.
Revenue Breakdown: Key Sources & Figures
Comstock's revenue comes from natural gas and oil sales, the main sources. Hedging strategies help stabilize revenue and protect against price drops. Midstream operations also contribute, as do other income sources like interest and asset sales.
| Revenue Source | Description | 2024 Revenue (approx.) |
|---|---|---|
| Natural Gas Sales | Primary source from selling natural gas. | $1.3 Billion |
| Oil Sales | Revenue from selling crude oil. | Included in $336M Q4 2024 |
| Hedging Gains | Gains from hedging contracts. | $207.8 Million |
| Midstream | Gathering, processing, & transportation. | $132.8 Million (2023) |
Business Model Canvas Data Sources
The Comstock Resources Business Model Canvas relies on SEC filings, industry reports, and market analysis. These sources enable data-driven decisions.
