0000023194-23-000027 | 10-Q | XBRL Viewer

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Difference Between Federal Statutory Rate and Effective Tax Rate (Detail)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Accounting Policies [Abstract]
Tax at statutory rate	21.00%	21.00%	21.00%	21.00%
Tax effect of:
Valuation allowance on deferred tax assets	(0.70%)	(3.80%)	1.10%	(4.00%)
State income taxes, net of federal benefit	3.80%	5.00%	(0.50%)	5.30%
Nondeductible stock-based compensation	(0.10%)	0.10%	0.60%	0.10%
Effective tax rate	24.00%	22.30%	22.20%	22.40%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

6 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

Basis of Presentation

These unaudited consolidated financial statements include the accounts of Comstock Resources, Inc. and its wholly-owned subsidiaries (collectively, "Comstock" or the "Company"). In management's opinion, the accompanying unaudited consolidated financial statements contain all adjustments necessary to present fairly the financial position of Comstock as of June 30, 2023, and the related results of operations and cash flows for the periods being presented. Net income and comprehensive income are the same in all periods presented. All adjustments are of a normal recurring nature unless otherwise disclosed.

The accompanying unaudited consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States have been omitted pursuant to those rules and regulations, although Comstock believes that the disclosures made are adequate to make the information presented not misleading. These unaudited consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in Comstock's Annual Report on Form 10-K for the year ended December 31, 2022. The results of operations for the period through June 30, 2023 are not necessarily an indication of the results expected for the full year.

Property and Equipment

The Company follows the successful efforts method of accounting for its natural gas and oil properties. Costs incurred to acquire natural gas and oil leases and to drill and complete developmental wells are capitalized.

Exploratory well costs are initially capitalized as proved property in the consolidated balance sheets but charged to exploration expense if and when the well is determined not to have found commercial proved natural gas and oil reserves. The changes in capitalized exploratory well costs are as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(In thousands)
Beginning capitalized exploratory well costs	$	30,557	$	18,523	$	867	$	6,966
Additions to exploratory well costs pending the determination of proved reserves	74,622		18,840		104,312		30,397
Determined to have found proved reserves	(70,983)		(27,592)		(70,983)		(27,592)


Ending capitalized exploratory well costs	$	34,196	$	9,771	$	34,196	$	9,771

As of June 30, 2023 and December 31, 2022, the Company had no exploratory wells for which costs have been capitalized for a period greater than one year.

The Company assesses the need for an impairment of the capitalized costs for its proved natural gas and oil properties on a property basis. No impairments were recognized to adjust the carrying value of the Company's proved natural gas and oil properties during any of the periods presented. Unproved natural gas and oil properties are also periodically assessed and any impairment in value is charged to expense. The costs related to unproved properties are transferred to proved natural gas and oil properties and amortized on an equivalent unit-of-production basis when they are reflected in proved natural gas and oil reserves.

The Company determines the fair values of its natural gas and oil properties using a discounted cash flow model and proved and risk-adjusted probable natural gas and oil reserves. Undrilled acreage can also be valued based on sales transactions in comparable areas. Significant Level 3 assumptions associated with the calculation of discounted future cash flows included in the cash flow model include management's outlook for natural gas and oil prices, production costs, capital expenditures, and future production as well as estimated proved natural gas and oil reserves and risk-adjusted probable natural gas and oil reserves. Management's natural gas and oil price outlook is developed based on third-party longer-term price forecasts as of each measurement date. The expected future net cash flows are discounted using an appropriate discount rate in determining a property's fair value.

It is reasonably possible that the Company's estimates of undiscounted future net cash flows attributable to its natural gas and oil properties may change in the future. The primary factors that may affect estimates of future cash flows include future adjustments, both positive and negative, to proved and appropriate risk-adjusted probable natural gas and oil reserves, results of future drilling activities, future prices for natural gas and oil, and increases or decreases in production and capital costs. As a result of these changes, there may be future impairments in the carrying values of these or other properties.

Goodwill

The Company had goodwill of $335.9 million as of June 30, 2023 that was recorded in 2018. The Company is not required to amortize goodwill as a charge to earnings; however, the Company is required to conduct an annual review of goodwill for impairment. The Company performs an annual assessment of goodwill on October 1 of each year and performs interim assessments if indicators of impairment are present. If the carrying value of goodwill exceeds the fair value, an impairment charge would be recorded for the difference between fair value and carrying value.

Leases

The Company has right-of-use lease assets of $192.7 million related to its corporate office, certain office equipment, vehicles and hydraulic fracturing fleets used to complete natural gas wells with corresponding short-term and long-term liabilities. The value of the lease assets and liabilities are determined based upon discounted future minimum cash flows contained within each of the respective contracts. The Company determines if contracts contain a lease at inception of the contract. To the extent that contract terms representing a lease are identified, leases are identified as being either an operating lease or a finance-type lease. Comstock currently has no finance-type leases. Right-of-use lease assets representing the Company's right to use an underlying asset for the lease term and the related lease liabilities represent our obligation to make lease payments under the terms of the contracts. Short-term leases that have an initial term of one year or less are not capitalized; however, amounts paid for those leases are included as part of its lease cost disclosures. Short-term lease costs exclude expenses related to leases with a lease term of one month or less. Leases for the right to explore for and develop natural

gas and oil reserves and the related rights to use the land associated with those leases are reflected as natural gas and oil properties.Comstock contracts for a variety of equipment used in its natural gas and oil exploration and development activities. Contract terms for this equipment vary broadly, including the contract duration, pricing, scope of services included along with the equipment, cancellation terms, and rights of substitution, among others. The Company's drilling and completion operations routinely change due to changes in commodity prices, demand for natural gas and oil, and the overall operating and economic environment. Accordingly, Comstock manages the terms of its contracts for drilling rigs and completion equipment so as to allow for maximum flexibility in responding to these changing conditions. The Company has two hydraulic fracturing fleet lease contracts with a three year term. The Company's other hydraulic fracturing fleet contracts are on terms less than one year and include rights of substitution. The Company's drilling rig contracts are presently either for periods of less than one year, or they are on terms that provide for cancellation with 45 days advance notice without a specified expiration date. The Company has elected not to recognize right-of-use lease assets for contracts less than one year. The costs associated with drilling and completion operations are accounted for under the successful efforts method, which generally require that these costs be capitalized as part of our proved natural gas and oil properties on our balance sheet unless they are incurred on exploration wells that are unsuccessful, in which case they are charged to exploration expense.

Reserve for Future Abandonment Costs

Reserve for Future Abandonment CostsComstock's asset retirement obligations relate to future plugging and abandonment expenses on its natural gas and oil properties and disposal of other facilities.

Derivative Financial Instruments and Hedging Activities

Derivative Financial Instruments and Hedging ActivitiesAll of the Company's derivative financial instruments are used for risk management purposes and, by policy, none are held for trading or speculative purposes. Comstock minimizes credit risk to counterparties of its derivative financial instruments through formal credit policies, monitoring procedures, and diversification. The Company is not required to provide any credit support to its counterparties other than cross collateralization with the assets securing its bank credit facility. None of the Company's derivative financial instruments involve payment or receipt of premiums. The Company classifies the fair value amounts of derivative financial instruments as net current or noncurrent assets or liabilities, whichever the case may be, by commodity contract. None of the Company's derivative contracts were designated as cash flow hedges. All of Comstock's natural gas derivative financial instruments are tied to the Henry Hub-NYMEX price index.

Stock-Based Compensation

Stock-Based CompensationComstock accounts for employee stock-based compensation under the fair value method. Compensation cost is measured at the grant date based on the fair value of the award and is recognized over the award vesting period and included in general and administrative expenses for awards of restricted stock and performance stock units ("PSUs") to the Company's employees and directors.

Revenue Recognition

Comstock produces natural gas and oil and reports revenues separately for each of these two primary products in its statements of operations. Revenues are recognized upon the transfer of produced volumes to the Company's customers, who take control of the volumes and receive all the benefits of ownership upon delivery at designated sales points.

Gas services revenues represent sales of natural gas purchased for resale and fees received for gathering and treating services provided to unaffiliated third parties and certain natural gas wells operated by the Company. Revenues are recognized upon completion of the gathering and treating of contracted natural gas volumes and delivery of purchased natural gas volumes to the Company's customers. Profits and losses earned in the gathering and treating of natural gas produced by the Company's natural gas wells are eliminated in consolidation. Revenues and expenses associated with natural gas purchased for resale are presented on a gross basis in the Company's consolidated statements of operations as the Company acts as the principal in the transaction by assuming the risks and rewards from ownership of the natural gas volumes purchased and the responsibility to deliver the natural gas volumes to their sales point.

All natural gas and oil and gas services revenues are subject to contracts that have commercial substance, contain specific pricing terms, and define the enforceable rights and obligations of both parties. These contracts typically provide for cash settlement within 25 days following each production month and are cancellable upon 30 days' notice by either party for oil and vary for natural gas based upon the terms set out in the confirmations between both parties. Prices for sales of natural gas and oil are generally based upon terms that are common in the oil and gas industry, including index or spot prices, location and quality differentials, as well as market supply and demand conditions. As a result, prices for natural gas and oil routinely fluctuate based on changes in these factors. Prices for gathering and treating services are generally fixed in nature but can vary due to the quality of the gas being treated. Each unit of production (barrel of crude oil and thousand cubic feet of natural gas) represents a separate performance obligation under the Company's contracts since each unit has economic benefit on its own and each is priced separately according to the terms of the contracts.

Comstock has elected to exclude all taxes from the measurement of transaction prices, and its revenues are reported net of royalties and exclude revenue interests owned by others because the Company acts as an agent when selling natural gas and oil, on behalf of royalty owners and working interest owners. Revenue is recorded in the month of production based on an estimate of the Company's share of volumes produced and prices realized. Gas services revenue is recorded in the month the services are performed or purchased gas is sold based on an estimate of natural gas volumes and contract prices. The Company recognizes any differences between estimates and actual amounts received in the month when payment is received. Historically, differences between estimated revenues and actual revenue received have not been significant. The amount of natural gas or oil sold may differ from the amount to which the Company is entitled based on its revenue interests in the properties. The Company did not have any significant imbalance positions at June 30, 2023 or December 31, 2022.

Credit Losses

Substantially all of the Company's accounts receivable are due from either purchasers of natural gas and oil or participants in natural gas and oil wells for which the Company serves as the operator. Generally, operators of natural gas and oil wells have the right to offset future revenues against unpaid charges related to operated wells. Natural gas and oil sales are generally unsecured. Comstock assesses the collectability of its receivables based upon their age, the credit quality of the purchaser or participant and the potential for revenue offset. The Company has not had any significant credit losses in the past and believes its accounts receivable are fully collectible. Accordingly, no allowance for doubtful accounts has been recorded for the six months ended June 30, 2023 and 2022.

Income Taxes

Deferred income taxes are provided to reflect the future tax consequences or benefits of differences between the tax basis of assets and liabilities and their reported amounts in the financial statements using enacted tax rates.

In recording deferred income tax assets, the Company considers whether it is more likely than not that its deferred income tax assets will be realized in the future. The ultimate realization of deferred income tax assets is dependent upon the generation of future taxable income during the periods in which those deferred income tax assets would be deductible. The Company believes that after considering all the available objective evidence, historical and prospective, with greater weight given to historical evidence, management is not able to determine that it is more likely than not that all of its deferred tax assets will be realized. As a result, the Company established valuation allowances for its deferred tax assets and U.S. federal and state net operating loss carryforwards that are not expected to be utilized due to the uncertainty of generating taxable income prior to the expiration of the carryforward periods. The Company will continue to assess the valuation allowances against deferred tax assets considering all available information obtained in future periods.

The Company's federal income tax returns for the years subsequent to December 31, 2018 remain subject to examination. The Company's income tax returns in major state income tax jurisdictions remain subject to examination for various periods subsequent to December 31, 2019. The Company is currently under examination with the state of Louisiana and believes that its significant filing positions are highly certain and that all of its other significant income tax filing positions and deductions would be sustained under audit or the final resolution would not have a material effect on the consolidated financial statements. Therefore, the Company has not established any significant reserves for uncertain tax positions.

Fair Value Measurements

The Company holds or has held certain financial assets and liabilities that are required to be measured at fair value. These include cash and cash equivalents held in bank accounts and derivative financial instruments. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. A three-level hierarchy is followed for disclosure to show the extent and level of judgment used to estimate fair value measurements:

Level 1 — Inputs used to measure fair value are unadjusted quoted prices that are available in active markets for the identical assets or liabilities as of the reporting date.

Level 2 — Inputs used to measure fair value, other than quoted prices included in Level 1, are either directly or indirectly observable as of the reporting date through correlation with market data, including quoted prices for similar assets and liabilities in active markets and quoted prices in markets that are not active. Level 2 also includes assets and liabilities that are valued using models or other pricing methodologies that do not require significant judgment since the input assumptions used in the models, such as interest rates and volatility factors, are corroborated by readily observable data from actively quoted markets for substantially the full term of the financial instrument.

Level 3 — Inputs used to measure fair value are unobservable inputs that are supported by little or no market activity and reflect the use of significant management judgment. These values are generally determined using pricing models for which the assumptions utilize management's estimates of market participant assumptions.

Earnings Per Share

Earnings Per ShareUnvested restricted stock containing non-forfeitable rights to dividends are included in common stock outstanding and are considered to be participating securities and included in the computation of basic and diluted earnings per share pursuant to the two-class method. At June 30, 2023 and December 31, 2022, 1,494,134 and 966,058 shares of restricted stock, respectively, are included in common stock outstanding as such shares have a non-forfeitable right to participate in any dividends that might be declared and have the right to vote on matters submitted to the Company's stockholders.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES –

Basis of Presentation

Other Current Assets

Other current assets at June 30, 2023 and December 31, 2022 consisted of the following:


	As of
	June 30, 2023		December 31, 2022
	(In thousands)
Pipe and well equipment inventory	$	44,738	$	34,819
Production tax refunds receivable	13,852		11,156
Prepaid expenses	2,187		2,455
Prepaid drilling costs	—		4,265
Accrued proceeds from sale of natural gas and oil properties	—		3,118
Other	—		511
	$	60,777	$	56,324

Property and Equipment


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(In thousands)
Beginning capitalized exploratory well costs	$	30,557	$	18,523	$	867	$	6,966
Additions to exploratory well costs pending the determination of proved reserves	74,622		18,840		104,312		30,397
Determined to have found proved reserves	(70,983)		(27,592)		(70,983)		(27,592)


Ending capitalized exploratory well costs	$	34,196	$	9,771	$	34,196	$	9,771

As of June 30, 2023 and December 31, 2022, the Company had no exploratory wells for which costs have been capitalized for a period greater than one year.

Goodwill

Leases

gas and oil reserves and the related rights to use the land associated with those leases are reflected as natural gas and oil properties.

Comstock contracts for a variety of equipment used in its natural gas and oil exploration and development activities. Contract terms for this equipment vary broadly, including the contract duration, pricing, scope of services included along with the equipment, cancellation terms, and rights of substitution, among others. The Company's drilling and completion operations routinely change due to changes in commodity prices, demand for natural gas and oil, and the overall operating and economic environment. Accordingly, Comstock manages the terms of its contracts for drilling rigs and completion equipment so as to allow for maximum flexibility in responding to these changing conditions. The Company has two hydraulic fracturing fleet lease contracts with a three year term. The Company's other hydraulic fracturing fleet contracts are on terms less than one year and include rights of substitution. The Company's drilling rig contracts are presently either for periods of less than one year, or they are on terms that provide for cancellation with 45 days advance notice without a specified expiration date. The Company has elected not to recognize right-of-use lease assets for contracts less than one year. The costs associated with drilling and completion operations are accounted for under the successful efforts method, which generally require that these costs be capitalized as part of our proved natural gas and oil properties on our balance sheet unless they are incurred on exploration wells that are unsuccessful, in which case they are charged to exploration expense.

Lease costs recognized during the three months and six months months ended June 30, 2023 and 2022 were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(In thousands)
Operating lease cost included in general and administrative expense	$	444	$	436	$	889	$	871
Operating lease cost included in lease operating expense	502		329		1,010		599
Operating lease cost included in natural gas and oil properties	13,230		6,300		22,680		6,300
Variable lease cost (completion costs included in natural gas and oil properties)	3,301		11,127		5,062		11,127
Short-term lease cost (drilling rig costs included in natural gas and oil properties)	24,496		17,105		53,888		28,140
	$	41,973	$	35,297	$	83,529	$	47,037

Cash payments for operating leases associated with right-of-use assets included in cash provided by operating activities were $0.9 million and $0.8 million for the three months ended June 30, 2023 and 2022, respectively, and $1.9 million and $1.5 million for the six months ended June 30, 2023 and 2022, respectively. Cash payments for operating leases associated with right-of-use assets included in cash used for investing activities were $41.0 million and $34.5 million for the three months ended June 30, 2023 and 2022, respectively and $81.6 million and $45.6 million for the six months ended June 30, 2023 and 2022, respectively.

As of June 30, 2023 and December 31, 2022, the operating leases had a weighted-average term of 2.5 years and 2.2 years, respectively, and the weighted-average discount rate used to determine the present value of future operating lease payments was 5.8% and 3.5%, respectively. As of June 30, 2023, the Company also had expected future payments for contracted drilling services of $117.8 million.

As of June 30, 2023, expected future payments related to contracts that contain operating leases were as follows:


	(In thousands)
July 1 to December 31, 2023	$	43,143
2024	86,791
2025	59,208
2026	19,151
2027	17

Total lease payments	208,310
Imputed interest	(15,572)
Total lease liability	$	192,738

Accrued Costs

Accrued costs at June 30, 2023 and December 31, 2022 consisted of the following:


	As of
	June 30, 2023		December 31, 2022
	(In thousands)
Accrued interest payable	$	54,377	$	54,867
Accrued transportation costs	29,449		28,357
Accrued drilling costs	25,392		54,438
Accrued income and other taxes	10,174		31,256
Accrued employee compensation	8,484		11,308

Accrued lease operating expenses	3,861		2,412
Other	320		473
	$	132,057	$	183,111

Reserve for Future Abandonment Costs

Comstock's asset retirement obligations relate to future plugging and abandonment expenses on its natural gas and oil properties and disposal of other facilities. The following table summarizes the changes in Comstock's total estimated liability for such obligations during the periods presented:


	Six Months Ended June 30,
	2023		2022
	(In thousands)
Reserve for future abandonment costs at beginning of period	$	29,114	$	25,673
New wells placed on production	67		844
Acquisitions	—		1,211
Liabilities settled and assets disposed of	(42)		(29)
Accretion expense	825		734
Reserve for future abandonment costs at end of period	$	29,964	$	28,433

Derivative Financial Instruments and Hedging Activities

All of the Company's derivative financial instruments are used for risk management purposes and, by policy, none are held for trading or speculative purposes. Comstock minimizes credit risk to counterparties of its derivative financial instruments through formal credit policies, monitoring procedures, and diversification. The Company is not required to provide any credit support to its counterparties other than cross collateralization with the assets securing its bank credit facility. None of the Company's derivative financial instruments involve payment or receipt of premiums. The Company classifies the fair value amounts of derivative financial instruments as net current or noncurrent assets or liabilities, whichever the case may be, by commodity contract. None of the Company's derivative contracts were designated as cash flow hedges. All of Comstock's natural gas derivative financial instruments are tied to the Henry Hub-NYMEX price index.

The Company had the following natural gas price derivative financial instruments at June 30, 2023:


	Future Production Period
	Six Months Ending December 31, 2023	Year Ending December 31, 2024	Total
Natural Gas Price Swap Contracts:
Volume (MMBtu)	—	47,580,000		47,580,000
Average Price per MMBtu		$3.50		$3.50
Natural Gas Price Collar Contracts:
Volume (MMBtu)	46,000,000			46,000,000
Average Price per MMBtu:
Average Ceiling	$10.28			$10.28
Average Floor	$3.00			$3.00

The classification of derivative financial instruments of assets or liabilities, consists of the following:


		As of
Type	Consolidated Balance Sheet Location	June 30, 2023		December 31, 2022
		(In thousands)
Asset Derivative Financial Instruments:
Natural gas price derivatives	Derivative Financial Instruments – current	$	17,553	$	23,884

		$	17,553	$	23,884





Liability Derivative Financial Instruments:
Natural gas price derivatives	Derivative Financial Instruments – current	$	—	$	4,420


		$	—	$	4,420

Natural gas price derivatives	Derivative Financial Instruments – long-term	$	2,052	$	—


		$	2,052	$	—

The Company recognized cash settlements and changes in the fair value of its derivative financial instruments as a single component of other income (expenses). Gains and losses related to cash settlements and changes in the fair value recognized on the Company's derivative contracts recognized in the consolidated statement of operations were as follows:


Gain (Loss) on Derivatives Recognized in Earnings	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(In thousands)
Natural gas price derivatives	$	(4,495)	$	(72,826)	$	61,914	$	(510,319)


	$	(4,495)	$	(72,826)	$	61,914	$	(510,319)

Stock-Based Compensation

Comstock accounts for employee stock-based compensation under the fair value method. Compensation cost is measured at the grant date based on the fair value of the award and is recognized over the award vesting period and included in general and administrative expenses for awards of restricted stock and performance stock units ("PSUs") to the Company's employees and directors. The Company recognized $2.3 million and $1.6 million of stock-based compensation expense within general and administrative expenses related to awards of restricted stock and PSUs to its employees and directors during the three months ended June 30, 2023 and 2022, respectively, and $4.4 million and $3.1 million for the six months ended June 30, 2023 and 2022, respectively.

In June 2023, the Company granted an aggregate of 954,031 shares of restricted stock to its directors and employees. The grants were valued at $9.80 per share. As of June 30, 2023, Comstock had 1,494,134 shares of unvested restricted stock outstanding at a weighted average grant date fair value of $11.52 per share. Total unrecognized compensation cost related to unvested restricted stock grants of $16.6 million as of June 30, 2023 is expected to be recognized over a period of 2.4 years.

In June 2023, the Company granted an aggregate of 359,689 PSUs to its executive officers at a value of $13.64 per unit. As of June 30, 2023, Comstock had 742,425 PSUs outstanding with a weighted average grant date fair value of $15.92 per unit. The number of shares of common stock to be issued related to the PSUs is based on the Company's stock price performance as compared to its peers which could result in the issuance of anywhere from zero to 1,484,850 shares of common stock. Total unrecognized compensation cost related to these grants of $8.8 million as of June 30, 2023 is expected to be recognized over a period of 2.5 years.

Revenue Recognition

The Company recognized accounts receivable of $124.5 million and $415.1 million as of June 30, 2023 and December 31, 2022, respectively, from purchasers for contracts where performance obligations have been satisfied and an unconditional right to consideration exists.

Credit Losses

Income Taxes

The following is an analysis of the consolidated income tax provision (benefit):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(In thousands)
Current - Federal	$	—	$	5,360	$	—	$	1,399
Current - State	(536)		7,969		—		5,509
Deferred - Federal	(12,414)		71,292		24,351		57,868
Deferred - State	(1,496)		23,801		919		12,024
	$	(14,446)	$	108,422	$	25,270	$	76,800

The difference between the federal statutory rate of 21% and the effective tax rate is due to the following:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Tax at statutory rate	21.0	%	21.0	%	21.0	%	21.0	%
Tax effect of:
Valuation allowance on deferred tax assets	(0.7)		(3.8)		1.1		(4.0)
State income taxes, net of federal benefit	3.8		5.0		(0.5)		5.3
Nondeductible stock-based compensation	(0.1)		0.1		0.6		0.1


Effective tax rate	24.0	%	22.3	%	22.2	%	22.4	%

Fair Value Measurements

Level 1 — Inputs used to measure fair value are unadjusted quoted prices that are available in active markets for the identical assets or liabilities as of the reporting date.

Fair Values – Reported

The following presents the carrying amounts and the fair values of the Company's financial instruments as of June 30, 2023 and December 31, 2022:


	As of
	June 30, 2023				December 31, 2022
	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets:	(In thousands)
Commodity-based derivatives (1)	$	17,553	$	17,553	$	23,884	$	23,884
Liabilities:
Commodity-based derivatives (1)	$	2,052	$	2,052	$	4,420	$	4,420
Bank credit facility (2)	$	20,000	$	20,000	$	—	$	—


6.75% senior notes due 2029 (3)	$	1,229,437	$	1,122,910	$	1,229,836	$	1,129,029
5.875% senior notes due 2030 (3)	$	965,000	$	832,313	$	965,000	$	846,788

_____________________________

(1)The Company's commodity-based derivatives are classified as Level 2 and measured at fair value using third party pricing services and other active markets or broker quotes that are readily available in the public markets.

(2)The carrying value of our floating rate debt outstanding approximates fair value.

(3)The fair value of the Company's fixed rate debt was based on quoted prices as of June 30, 2023 and December 31, 2022, respectively, a Level 1 measurement.

Earnings Per Share

Unvested restricted stock containing non-forfeitable rights to dividends are included in common stock outstanding and are considered to be participating securities and included in the computation of basic and diluted earnings per share pursuant to the two-class method. At June 30, 2023 and December 31, 2022, 1,494,134 and 966,058 shares of restricted stock, respectively, are included in common stock outstanding as such shares have a non-forfeitable right to participate in any dividends that might be declared and have the right to vote on matters submitted to the Company's stockholders.

Weighted average shares of unvested restricted stock outstanding were as follows:


	Three Months Ended June 30,		Six Months Ended June 30,
	2023	2022	2023	2022
	(In thousands)
Unvested restricted stock	1,124	905	1,042	926

PSUs represent the right to receive a number of shares of the Company's common stock that may range from zero to up to two times the number of PSUs granted on the award date based on the achievement of certain performance measures during a performance period. The number of potentially dilutive shares related to PSUs is based on the number of shares, if any, which would be issuable at the end of the respective period, assuming that date was the end of the performance period. The treasury stock method is used to measure the dilutive effect of PSUs.

Weighted average unearned PSUs outstanding were as follows:


	Three Months Ended June 30,		Six Months Ended June 30,
	2023	2022	2023	2022
	(In thousands, except per unit amounts)
Weighted average PSUs	597	1,080	586	1,065
Weighted average grant date fair value per unit	$15.92	$10.41	$15.92	$10.41

Basic and diluted income (loss) per share for the three months and six months months ended June 30, 2023 and 2022 were determined as follows:


	Three Months Ended June 30,
	2023					2022
	Income		Shares	Per Share		Loss		Shares	Per Share
	(In thousands, except per share amounts)
Net income (loss) attributable to common stock	$	(45,706)				$	372,528
Income allocable to unvested restricted shares	—					(1,447)
Basic income (loss) attributable to common stock	(45,706)		276,669	$	(0.17)	371,081		232,045	$	1.60
Effect of Dilutive Securities:
Restricted stock	—		—			1,447		680
Performance stock units	—		—			—		1,139
Convertible preferred stock	—		—			4,363		43,750
Diluted income (loss) attributable to common stock	$	(45,706)	276,669	$	(0.17)	$	376,891	277,614	$	1.36


	Six Months Ended June 30,
	2023					2022
	Income		Shares	Per Share		Loss		Shares	Per Share
	(In thousands, except per share amounts)
Net income attributable to common stock	$	88,797				$	256,789
Income allocable to unvested restricted shares	(73)					(1,021)
Basic income attributable to common stock	88,724		276,610	$	0.32	255,768		232,011	$	1.10
Effect of Dilutive Securities:
Restricted stock	—		—			1,021		640
Performance stock units	—		—			—		1,084
Convertible preferred stock	—		—			8,678		43,750
Diluted income attributable to common stock	$	88,724	276,610	$	0.32	$	265,467	277,485	$	0.96

None of the Company's participating securities participate in losses and as such are excluded from the computation of basic earnings per share during periods of net losses.

Supplementary Information with Respect to the Consolidated Statements of Cash Flows

Cash payments made for interest and income taxes and other non-cash investing activities for the six months ended June 30, 2023 and 2022, respectively, were as follows:


	Six Months Ended June 30,
	2023		2022
	(In thousands)
Cash payments for:
Interest payments	$	73,957	$	89,641
Income tax payments	$	29,182	$	169
Non-cash investing activities include:
Increase (decrease) in accrued capital expenditures	$	(29,046)	$	13,813
Liabilities assumed in exchange for right-of-use lease assets	$	124,383	$	108,881

SUBSEQUENT EVENT (Details) - $ / shares		3 Months Ended		6 Months Ended
SUBSEQUENT EVENT (Details) - $ / shares	Jul. 31, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Subsequent Event [Line Items]
Common stock dividends declared (in dollars per share)		$ 0.125	$ 0	$ 0.25	$ 0
Subsequent Event
Subsequent Event [Line Items]
Common stock dividends declared (in dollars per share)	$ 0.125

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Summary of Carrying Amounts and Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Derivative financial instruments	$ 17,553	$ 23,884
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Derivative financial instruments	0	4,420
Bank Credit Facility:
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Long-term debt, carrying value	20,000	0
Long-term debt, fair value	$ 20,000	0
6.75% Senior Notes due 2029:
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Interest rate on debt instrument	6.75%		6.75%
5.875% Senior Notes due 2030:
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Interest rate on debt instrument	5.875%
Level 2 and Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Derivative financial instruments	$ 17,553	23,884
Derivative financial asset, fair value	17,553	23,884
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Derivative financial instruments	2,052	4,420
Derivative financial liabilities, fair value	2,052	4,420
Level 1 \| 6.75% Senior Notes due 2029:
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Long-term debt, carrying value	1,229,437	1,229,836
Long-term debt, fair value	1,122,910	1,129,029
Level 1 \| 5.875% Senior Notes due 2030:
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Long-term debt, carrying value	965,000	965,000
Long-term debt, fair value	$ 832,313	$ 846,788

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Supplementary Information of Consolidated Statements of Cash Flows (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash payments for:
Interest payments	$ 73,957	$ 89,641
Income tax payments	29,182	169
Non-cash investing activities include:
Increase (decrease) in accrued capital expenditures	(29,046)	13,813
Liabilities assumed in exchange for right-of-use lease assets	$ 124,383	$ 108,881

LONG-TERM DEBT (Tables)

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Long-term Debt

At June 30, 2023, long-term debt was comprised of the following:


	(In thousands)
6.75% Senior Notes due 2029:
Principal	$	1,223,880
Premium, net of amortization	5,557
5.875% Senior Notes due 2030:
Principal	965,000
Bank Credit Facility:
Principal	20,000
Debt issuance costs, net of amortization	(38,019)
	$	2,176,418

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Reference 2: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Summary of Accrued Costs (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Accrued interest payable	$ 54,377	$ 54,867
Accrued transportation costs	29,449	28,357
Accrued drilling costs	25,392	54,438
Accrued income and other taxes	10,174	31,256
Accrued employee compensation	8,484	11,308
Accrued lease operating expenses	3,861	2,412
Other	320	473
Total accrued expenses	$ 132,057	$ 183,111

SUBSEQUENT EVENT	6 Months Ended
SUBSEQUENT EVENT	Jun. 30, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENT	SUBSEQUENT EVENTOn July 31, 2023, the board of directors of the Company authorized a dividend of $0.125 per share to be paid on September 15, 2023 to common stockholders of record on September 1, 2023.

RELATED PARTY TRANSACTIONS	6 Months Ended
RELATED PARTY TRANSACTIONS	Jun. 30, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Comstock operates natural gas and oil properties held by partnerships owned by its majority stockholder. The Company charges the partnerships for the costs incurred to drill, complete and produce wells, as well as drilling and operating overhead fees. Comstock also provides natural gas marketing services to the partnerships, including evaluating potential markets and providing hedging services, in return for a fee equal to $0.02 per Mcf for natural gas marketed. The Company received $0.4 million for the three months ended June 30, 2023 and 2022, respectively, and $0.7 million and $0.6 million for the six months ended June 30, 2023, respectively, for drilling, operating and marketing services provided to the partnerships. The fees received for the services are reflected as a reduction of general and administrative expenses in the accompanying consolidated statements of operations.In connection with the operation of the wells, the Company had a $28.5 million and $18.5 million receivable from the partnerships at June 30, 2023 and December 31, 2022, respectively.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Section S99
-Paragraph 1
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Revenue Recognized (Details)	6 Months Ended
	Jun. 30, 2023 USD ($) product	Dec. 31, 2022 USD ($)	Jun. 30, 2022 USD ($)
Accounting Policies [Abstract]
Number of primary products \| product	2
Contract cash settlement max days	25 days
Contract cancellable notice term	30 days
Natural gas and oil sales and gas services	$ 124,493,000	$ 415,079,000
Allowance for doubtful accounts	$ 0		$ 0

LONG-TERM DEBT

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

LONG-TERM DEBT

At June 30, 2023, long-term debt was comprised of the following:


	(In thousands)
6.75% Senior Notes due 2029:
Principal	$	1,223,880
Premium, net of amortization	5,557
5.875% Senior Notes due 2030:
Principal	965,000
Bank Credit Facility:
Principal	20,000
Debt issuance costs, net of amortization	(38,019)
	$	2,176,418

As of June 30, 2023, the Company had $20.0 million outstanding under a bank credit facility. Aggregate commitments under the bank credit facility are $1.5 billion, which matures on November 15, 2027. Borrowings under the bank credit facility are subject to a borrowing base, which is currently set at $2.0 billion. The borrowing base is re-determined on a semi-annual basis and upon the occurrence of certain other events. Borrowings under the bank credit facility are secured by substantially all of the assets of the Company and its subsidiaries and bear interest at the Company's option, at either SOFR plus 1.75% to 2.75% or an alternate base rate plus 0.75% to 1.75%, in each case depending on the utilization of the borrowing base. The Company also pays a commitment fee of 0.375% to 0.5% on the unused portion of the borrowing base. The bank credit facility places certain restrictions upon the Company's and its subsidiaries' ability to, among other things, incur additional indebtedness, pay cash dividends, repurchase common stock, make certain loans, investments and divestitures and redeem the senior notes. The only financial covenants are the maintenance of a leverage ratio of less than 3.5 to 1.0 and an adjusted current ratio of at least 1.0 to 1.0. The Company was in compliance with the covenants as of June 30, 2023.

During the six months ended June 30, 2022, the Company completed the early redemption of all of its outstanding 7.5% senior notes due in 2025 for an aggregate amount of $258.1 million and repurchased $26.1 million principal amount of its 6.75% senior notes due in 2029 for $24.9 million. As a result of the redemption and repurchase, the Company recognized a loss of $46.8 million on early retirement of debt.

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 88,797	$ 265,467
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred income taxes	25,270	70,329
Gain on sale of assets	(125)	(21)
Depreciation, depletion and amortization	274,160	225,929
(Gain) loss on derivative financial instruments	(61,914)	510,319
Cash settlements of derivative financial instruments	65,877	(374,549)
Amortization of debt discount and issuance costs	3,991	7,098
Stock-based compensation	4,351	3,076
Loss on early retirement of debt	0	46,840
(Increase) decrease in accounts receivable	316,210	(203,918)
Decrease in other current assets	1,201	881
Increase in accounts payable and accrued expenses	56	145,083
Net cash provided by operating activities	717,874	696,534
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures and acquisitions	(743,858)	(515,454)
Prepaid drilling costs	(8,624)	(10,601)
Proceeds from sales of assets	41,295	93
Net cash used for investing activities	(711,187)	(525,962)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on bank credit facility	160,000	595,000
Repayments of bank credit facility	(140,000)	(480,000)
Retirement of Senior Notes	0	(273,920)
Preferred stock dividends paid	0	(8,678)
Common stock dividends paid	(69,377)	0
Debt and stock issuance costs	(144)	0
Income tax withholdings on equity awards	(1,899)	(1,365)
Net cash used for financing activities	(51,420)	(168,963)
Net increase (decrease) in cash and cash equivalents	(44,733)	1,609
Cash and cash equivalents, beginning of period	54,652	30,663
Cash and cash equivalents, end of period	$ 9,919	$ 32,272

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property, Equipment and Goodwill (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Increase (Decrease) in Capitalized Exploratory Well Costs that are Pending Determination of Proved Reserves [Roll Forward]
Beginning capitalized exploratory well costs	$ 30,557,000	$ 18,523,000	$ 867,000	$ 6,966,000
Additions to exploratory well costs pending the determination of proved reserves	74,622,000	18,840,000	104,312,000	30,397,000
Determined to have found proved reserves	(70,983,000)	(27,592,000)	(70,983,000)	(27,592,000)
Ending capitalized exploratory well costs	34,196,000	9,771,000	34,196,000	9,771,000
Impairment of oil and gas properties	0	$ 0	0	$ 0
Goodwill	$ 335,897,000		$ 335,897,000		$ 335,897,000

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

COMMITMENTS AND CONTINGENCIES (Detail) $ in Millions	6 Months Ended	12 Months Ended
COMMITMENTS AND CONTINGENCIES (Detail) $ in Millions	Dec. 31, 2023 drillingRig	Dec. 31, 2022 drillingRig	Jul. 31, 2022 USD ($)
Completion Service Contracts
Other Commitments [Line Items]
Other commitment, period		3 years
Drilling Rig Contracts
Other Commitments [Line Items]
Other commitment, number of drilling rigs \| drillingRig		3
Drilling Rig Contracts \| Forecast
Other Commitments [Line Items]
Other commitment, number of drilling rigs \| drillingRig	2
Drilling Rig Contracts \| Minimum
Other Commitments [Line Items]
Other commitment, to be paid, year one			$ 12.2
Other commitment, to be paid, year two			12.2
Other commitment, to be paid, year three			$ 12.2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Summary of Changes in Reserve for Future Abandonment Costs (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Reserve for future abandonment costs at beginning of period	$ 29,114	$ 25,673
New wells placed on production	67	844
Acquisitions	0	1,211
Liabilities settled and assets disposed of	(42)	(29)
Accretion expense	825	734
Reserve for future abandonment costs at end of period	$ 29,964	$ 28,433

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ (45,706)	$ 134,503	$ 376,891	$ (111,424)	$ 88,797	$ 265,467

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues:
Total natural gas and oil sales	$ 288,211	$ 946,254	$ 777,789	$ 1,515,668
Operating expenses:
Production and ad valorem taxes	19,599	21,729	34,505	35,549
Gathering and transportation	45,395	36,964	90,969	69,057
Lease operating	34,031	25,079	68,861	51,265
Exploration	0	2,342	1,775	3,363
Depreciation, depletion and amortization	140,177	119,201	274,160	225,929
Gas services	55,390	82,778	156,685	123,453
General and administrative	10,038	9,063	22,406	17,286
Loss (gain) on sale of assets	648	(19)	(125)	(21)
Total operating expenses	305,278	297,137	649,236	525,881
Operating income (loss)	(17,067)	649,117	128,553	989,787
Other income (expenses):
Gain (loss) from derivative financial instruments	(4,495)	(72,826)	61,914	(510,319)
Other income	598	182	1,058	450
Interest expense	(39,188)	(44,320)	(77,458)	(90,811)
Loss on early retirement of debt	0	(46,840)	0	(46,840)
Total other expenses	(43,085)	(163,804)	(14,486)	(647,520)
Income (loss) before income taxes	(60,152)	485,313	114,067	342,267
(Provision for) benefit from income taxes	14,446	(108,422)	(25,270)	(76,800)
Net income (loss)	(45,706)	376,891	88,797	265,467
Preferred stock dividends	0	(4,363)	0	(8,678)
Net income (loss) available to common stockholders	$ (45,706)	$ 372,528	$ 88,797	$ 256,789
Net income (loss) per share:
Basic (in dollars per share)	$ (0.17)	$ 1.60	$ 0.32	$ 1.10
Diluted (in dollars per share)	$ (0.17)	$ 1.36	$ 0.32	$ 0.96
Weighted average shares outstanding:
Basic (in shares)	276,669	232,045	276,610	232,011
Diluted (in shares)	276,669	277,614	276,610	277,485
Common stock dividends declared (in dollars per share)	$ 0.125	$ 0	$ 0.25	$ 0
Total natural gas and oil sales
Revenues:
Total natural gas and oil sales	$ 229,752	$ 861,342	$ 609,726	$ 1,386,183
Natural gas sales
Revenues:
Total natural gas and oil sales	228,892	858,838	606,924	1,381,795
Oil sales
Revenues:
Total natural gas and oil sales	860	2,504	2,802	4,388
Gas services
Revenues:
Total natural gas and oil sales	$ 58,459	$ 84,912	$ 168,063	$ 129,485

RELATED PARTY TRANSACTIONS (Detail) $ in Thousands	3 Months Ended		6 Months Ended
RELATED PARTY TRANSACTIONS (Detail) $ in Thousands	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) $ / Mcf	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Related Party Transaction [Line Items]
Revenues	$ 288,211	$ 946,254	$ 777,789	$ 1,515,668
From affiliates	28,513		$ 28,513		$ 18,527
Partnerships owned by majority stockholder
Related Party Transaction [Line Items]
Related party revenue, fee (in usd per Mcf) \| $ / Mcf			0.02
From affiliates	28,500		$ 28,500		$ 18,500
Partnerships owned by majority stockholder \| Partnership costs to drill and operating wells and overhead fees
Related Party Transaction [Line Items]
Revenues	$ 400	$ 400	$ 700	$ 600

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Derivatives Narrative (Detail)	Jun. 30, 2023 USD ($)
Accounting Policies [Abstract]
Cash flow hedges derivative instruments	$ 0

LONG-TERM DEBT - Long-term Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Debt Instrument [Line Items]
Debt issuance costs, net of amortization	$ (38,019)
Long-term debt	2,176,418	$ 2,152,571
Bank Credit Facility:
Debt Instrument [Line Items]
Principal	20,000
6.75% Senior Notes due 2029:
Debt Instrument [Line Items]
Principal	1,223,880
Premium, net of amortization	$ 5,557
Interest rate on debt instrument	6.75%		6.75%
5.875% Senior Notes due 2030:
Debt Instrument [Line Items]
Principal	$ 965,000
Interest rate on debt instrument	5.875%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

LONG-TERM DEBT - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Debt Instrument [Line Items]
Loss on early retirement of debt	$ 0	$ 46,840	$ 0	$ 46,840
7.5% Senior Notes due 2025
Debt Instrument [Line Items]
Interest rate on debt instrument		7.50%		7.50%
Redemption price				$ 258,100
6.75% Senior Notes due 2029:
Debt Instrument [Line Items]
Principal	$ 1,223,880		$ 1,223,880
Interest rate on debt instrument	6.75%	6.75%	6.75%	6.75%
Repurchased face amount		$ 26,100		$ 26,100
Repurchase amount		$ 24,900		$ 24,900
Bank Credit Facility
Debt Instrument [Line Items]
Principal	$ 20,000		$ 20,000
Bank credit facility	1,500,000		$ 1,500,000
Leverage ratio			350.00%
Current ratio			100.00%
Bank Credit Facility \| Minimum
Debt Instrument [Line Items]
Commitment fee on unused borrowing base			0.375%
Bank Credit Facility \| Maximum
Debt Instrument [Line Items]
Commitment fee on unused borrowing base			0.50%
Bank Credit Facility \| Secured Overnight Financing Rate (SOFR) \| Minimum
Debt Instrument [Line Items]
Spread rate for interest rate on credit facility			1.75%
Bank Credit Facility \| Secured Overnight Financing Rate (SOFR) \| Maximum
Debt Instrument [Line Items]
Spread rate for interest rate on credit facility			2.75%
Bank Credit Facility \| Base Rate \| Minimum
Debt Instrument [Line Items]
Spread rate for interest rate on credit facility			0.75%
Bank Credit Facility \| Base Rate \| Maximum
Debt Instrument [Line Items]
Spread rate for interest rate on credit facility			1.75%
Revolving Credit Facility \| Wells Fargo Credit Facility
Debt Instrument [Line Items]
Bank credit facility	$ 2,000,000		$ 2,000,000

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Consolidated Income Tax Provision (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Accounting Policies [Abstract]
Current - Federal	$ 0	$ 5,360	$ 0	$ 1,399
Current - State	(536)	7,969	0	5,509
Deferred - Federal	(12,414)	71,292	24,351	57,868
Deferred - State	(1,496)	23,801	919	12,024
Total	$ (14,446)	$ 108,422	$ 25,270	$ 76,800

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Gains and Losses from Derivative Financial Instruments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative [Line Items]
Gain (Loss) on Derivatives Recognized in Earnings	$ (4,495)	$ (72,826)	$ 61,914	$ (510,319)
Natural gas price derivatives
Derivative [Line Items]
Gain (Loss) on Derivatives Recognized in Earnings	$ (4,495)	$ (72,826)	$ 61,914	$ (510,319)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Weighted Average Shares of Unvested Restricted Stock (Detail) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Accounting Policies [Abstract]
Unvested restricted stock (in shares)	1,124	905	1,042	926

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
ASSETS
Cash and cash equivalents	$ 9,919	$ 54,652
Accounts receivable:
Natural gas and oil sales and gas services	124,493	415,079
Joint interest operations	40,911	76,521
From affiliates	28,513	18,527
Derivative financial instruments	17,553	23,884
Other current assets	60,777	56,324
Total current assets	282,166	644,987
Natural gas and oil properties, successful efforts method:
Proved	6,483,151	5,843,409
Unproved	319,791	298,230
Other	37,710	26,475
Accumulated depreciation, depletion and amortization	(1,814,651)	(1,545,459)
Net property and equipment	5,026,001	4,622,655
Goodwill	335,897	335,897
Operating lease right-of-use assets	192,670	90,716
Total assets	5,836,734	5,694,255
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	552,315	530,195
Accrued costs	132,057	183,111
Operating leases	77,690	38,411
Derivative financial instruments	0	4,420
Total current liabilities	762,062	756,137
Long-term debt	2,176,418	2,152,571
Deferred income taxes	451,004	425,734
Derivative financial instruments	2,052	0
Long-term operating leases	115,048	52,385
Reserve for future abandonment costs	29,964	29,114
Total liabilities	3,536,548	3,415,941
Commitments and contingencies
Stockholders' equity:
Common stock—$0.50 par, 400,000,000 shares authorized, 278,492,648 and 277,517,087 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively	139,246	138,759
Additional paid-in capital	1,255,382	1,253,417
Accumulated earnings	905,558	886,138
Total stockholders' equity	2,300,186	2,278,314
Total liabilities and stockholders' equity	$ 5,836,734	$ 5,694,255

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Summary of Lease Cost Recognized (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Operations And Summary Of Significant Accounting Policies [Line Items]
Operating lease cost	$ 41,973	$ 35,297	$ 83,529	$ 47,037
Operating lease cost included in general and administrative expense
Operations And Summary Of Significant Accounting Policies [Line Items]
Operating lease cost	444	436	889	871
Operating lease cost included in lease operating expense
Operations And Summary Of Significant Accounting Policies [Line Items]
Operating lease cost	502	329	1,010	599
Operating lease cost included in natural gas and oil properties
Operations And Summary Of Significant Accounting Policies [Line Items]
Operating lease cost	13,230	6,300	22,680	6,300
Variable lease cost (completion costs included in natural gas and oil properties)
Operations And Summary Of Significant Accounting Policies [Line Items]
Variable lease cost	3,301	11,127	5,062	11,127
Short-term lease cost (drilling rig costs included in natural gas and oil properties)
Operations And Summary Of Significant Accounting Policies [Line Items]
Operating lease cost	$ 24,496	$ 17,105	$ 53,888	$ 28,140

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Share Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Net income (loss) attributable to common stock
Stock-based compensation				$ 4,351	$ 3,076
Restricted Stock
Net income (loss) attributable to common stock
Granted (in shares)	954,031
Value per share (in dollars per share)	$ 9.80
Shares of unvested restricted stock outstanding (in shares)	1,494,134	1,494,134		1,494,134		966,058
Weighted average grant date fair value of stock grants per share (in dollars per share)	$ 11.52	$ 11.52		$ 11.52
Unrecognized compensation cost related to unvested restricted stock	$ 16,600	$ 16,600		$ 16,600
Period in which compensation cost expected to be recognized				2 years 4 months 24 days
PSUs
Net income (loss) attributable to common stock
Period in which compensation cost expected to be recognized				2 years 6 months
Number of Performance Shares Units Awards Granted	359,689
Grant Date Fair Value Of Performance Share Units	$ 13.64
Number of performance stock units ("PSUs") outstanding (in shares)	742,425	742,425		742,425
Weighted average grant date fair value of PSUs per unit (in dollars per share)	$ 15.92	$ 15.92		$ 15.92
Minimum final number of shares of common stock issuable based on performance multiplier (in shares)				0
Maximum final number of shares of common stock issuable based on performance multiplier (in shares)				1,484,850
Unrecognized expense, performance share units				$ 8,800
General and Administrative Expense
Net income (loss) attributable to common stock
Stock-based compensation		$ 2,300	$ 1,600	$ 4,400	$ 3,100

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

Schedule of Other Current Assets

Other current assets at June 30, 2023 and December 31, 2022 consisted of the following:


	As of
	June 30, 2023		December 31, 2022
	(In thousands)
Pipe and well equipment inventory	$	44,738	$	34,819
Production tax refunds receivable	13,852		11,156
Prepaid expenses	2,187		2,455
Prepaid drilling costs	—		4,265
Accrued proceeds from sale of natural gas and oil properties	—		3,118
Other	—		511
	$	60,777	$	56,324

Capitalized Exploratory Well Costs

The changes in capitalized exploratory well costs are as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(In thousands)
Beginning capitalized exploratory well costs	$	30,557	$	18,523	$	867	$	6,966
Additions to exploratory well costs pending the determination of proved reserves	74,622		18,840		104,312		30,397
Determined to have found proved reserves	(70,983)		(27,592)		(70,983)		(27,592)


Ending capitalized exploratory well costs	$	34,196	$	9,771	$	34,196	$	9,771

Summary of Lease Cost Recognized

Lease costs recognized during the three months and six months months ended June 30, 2023 and 2022 were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(In thousands)
Operating lease cost included in general and administrative expense	$	444	$	436	$	889	$	871
Operating lease cost included in lease operating expense	502		329		1,010		599
Operating lease cost included in natural gas and oil properties	13,230		6,300		22,680		6,300
Variable lease cost (completion costs included in natural gas and oil properties)	3,301		11,127		5,062		11,127
Short-term lease cost (drilling rig costs included in natural gas and oil properties)	24,496		17,105		53,888		28,140
	$	41,973	$	35,297	$	83,529	$	47,037

Summary of Liabilities Under Contracts That Contain Operating Leases

As of June 30, 2023, expected future payments related to contracts that contain operating leases were as follows:


	(In thousands)
July 1 to December 31, 2023	$	43,143
2024	86,791
2025	59,208
2026	19,151
2027	17

Total lease payments	208,310
Imputed interest	(15,572)
Total lease liability	$	192,738

Summary of Accrued Costs

Accrued costs at June 30, 2023 and December 31, 2022 consisted of the following:


	As of
	June 30, 2023		December 31, 2022
	(In thousands)
Accrued interest payable	$	54,377	$	54,867
Accrued transportation costs	29,449		28,357
Accrued drilling costs	25,392		54,438
Accrued income and other taxes	10,174		31,256
Accrued employee compensation	8,484		11,308

Accrued lease operating expenses	3,861		2,412
Other	320		473
	$	132,057	$	183,111

Summary of Changes in Total Estimated Asset Retirement Obligation Liability

The following table summarizes the changes in Comstock's total estimated liability for such obligations during the periods presented:


	Six Months Ended June 30,
	2023		2022
	(In thousands)
Reserve for future abandonment costs at beginning of period	$	29,114	$	25,673
New wells placed on production	67		844
Acquisitions	—		1,211
Liabilities settled and assets disposed of	(42)		(29)
Accretion expense	825		734
Reserve for future abandonment costs at end of period	$	29,964	$	28,433

Schedule of Natural Gas Price Derivative

The Company had the following natural gas price derivative financial instruments at June 30, 2023:


	Future Production Period
	Six Months Ending December 31, 2023	Year Ending December 31, 2024	Total
Natural Gas Price Swap Contracts:
Volume (MMBtu)	—	47,580,000		47,580,000
Average Price per MMBtu		$3.50		$3.50
Natural Gas Price Collar Contracts:
Volume (MMBtu)	46,000,000			46,000,000
Average Price per MMBtu:
Average Ceiling	$10.28			$10.28
Average Floor	$3.00			$3.00

Schedule of Derivative Instruments

The classification of derivative financial instruments of assets or liabilities, consists of the following:


		As of
Type	Consolidated Balance Sheet Location	June 30, 2023		December 31, 2022
		(In thousands)
Asset Derivative Financial Instruments:
Natural gas price derivatives	Derivative Financial Instruments – current	$	17,553	$	23,884

		$	17,553	$	23,884





Liability Derivative Financial Instruments:
Natural gas price derivatives	Derivative Financial Instruments – current	$	—	$	4,420


		$	—	$	4,420

Natural gas price derivatives	Derivative Financial Instruments – long-term	$	2,052	$	—


		$	2,052	$	—

Schedule of Gains and Losses from Derivative Contracts

Gains and losses related to cash settlements and changes in the fair value recognized on the Company's derivative contracts recognized in the consolidated statement of operations were as follows:


Gain (Loss) on Derivatives Recognized in Earnings	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(In thousands)
Natural gas price derivatives	$	(4,495)	$	(72,826)	$	61,914	$	(510,319)


	$	(4,495)	$	(72,826)	$	61,914	$	(510,319)

Consolidated Income Tax Benefit (Provision)

The following is an analysis of the consolidated income tax provision (benefit):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(In thousands)
Current - Federal	$	—	$	5,360	$	—	$	1,399
Current - State	(536)		7,969		—		5,509
Deferred - Federal	(12,414)		71,292		24,351		57,868
Deferred - State	(1,496)		23,801		919		12,024
	$	(14,446)	$	108,422	$	25,270	$	76,800

Difference Between Federal Statutory Rate and Effective Tax Rate

The difference between the federal statutory rate of 21% and the effective tax rate is due to the following:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Tax at statutory rate	21.0	%	21.0	%	21.0	%	21.0	%
Tax effect of:
Valuation allowance on deferred tax assets	(0.7)		(3.8)		1.1		(4.0)
State income taxes, net of federal benefit	3.8		5.0		(0.5)		5.3
Nondeductible stock-based compensation	(0.1)		0.1		0.6		0.1


Effective tax rate	24.0	%	22.3	%	22.2	%	22.4	%

Summary of Carrying Amounts and Fair Values of Financial Instruments

The following presents the carrying amounts and the fair values of the Company's financial instruments as of June 30, 2023 and December 31, 2022:


	As of
	June 30, 2023				December 31, 2022
	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets:	(In thousands)
Commodity-based derivatives (1)	$	17,553	$	17,553	$	23,884	$	23,884
Liabilities:
Commodity-based derivatives (1)	$	2,052	$	2,052	$	4,420	$	4,420
Bank credit facility (2)	$	20,000	$	20,000	$	—	$	—


6.75% senior notes due 2029 (3)	$	1,229,437	$	1,122,910	$	1,229,836	$	1,129,029
5.875% senior notes due 2030 (3)	$	965,000	$	832,313	$	965,000	$	846,788

_____________________________

(2)The carrying value of our floating rate debt outstanding approximates fair value.

(3)The fair value of the Company's fixed rate debt was based on quoted prices as of June 30, 2023 and December 31, 2022, respectively, a Level 1 measurement.

Weighted Average Shares of Unvested Restricted Stock

Weighted average shares of unvested restricted stock outstanding were as follows:


	Three Months Ended June 30,		Six Months Ended June 30,
	2023	2022	2023	2022
	(In thousands)
Unvested restricted stock	1,124	905	1,042	926

Common Stock and Convertible Stock Dilutive in Weighted average unearned PSUs outstanding

The treasury stock method is used to measure the dilutive effect of PSUs.

Weighted average unearned PSUs outstanding were as follows:


	Three Months Ended June 30,		Six Months Ended June 30,
	2023	2022	2023	2022
	(In thousands, except per unit amounts)
Weighted average PSUs	597	1,080	586	1,065
Weighted average grant date fair value per unit	$15.92	$10.41	$15.92	$10.41

Schedule of Basic and Diluted Income (Loss) Per Share

Basic and diluted income (loss) per share for the three months and six months months ended June 30, 2023 and 2022 were determined as follows:


	Three Months Ended June 30,
	2023					2022
	Income		Shares	Per Share		Loss		Shares	Per Share
	(In thousands, except per share amounts)
Net income (loss) attributable to common stock	$	(45,706)				$	372,528
Income allocable to unvested restricted shares	—					(1,447)
Basic income (loss) attributable to common stock	(45,706)		276,669	$	(0.17)	371,081		232,045	$	1.60
Effect of Dilutive Securities:
Restricted stock	—		—			1,447		680
Performance stock units	—		—			—		1,139
Convertible preferred stock	—		—			4,363		43,750
Diluted income (loss) attributable to common stock	$	(45,706)	276,669	$	(0.17)	$	376,891	277,614	$	1.36


	Six Months Ended June 30,
	2023					2022
	Income		Shares	Per Share		Loss		Shares	Per Share
	(In thousands, except per share amounts)
Net income attributable to common stock	$	88,797				$	256,789
Income allocable to unvested restricted shares	(73)					(1,021)
Basic income attributable to common stock	88,724		276,610	$	0.32	255,768		232,011	$	1.10
Effect of Dilutive Securities:
Restricted stock	—		—			1,021		640
Performance stock units	—		—			—		1,084
Convertible preferred stock	—		—			8,678		43,750
Diluted income attributable to common stock	$	88,724	276,610	$	0.32	$	265,467	277,485	$	0.96

Cash Payments Made for Interest and Income Taxes

Cash payments made for interest and income taxes and other non-cash investing activities for the six months ended June 30, 2023 and 2022, respectively, were as follows:


	Six Months Ended June 30,
	2023		2022
	(In thousands)
Cash payments for:
Interest payments	$	73,957	$	89,641
Income tax payments	$	29,182	$	169
Non-cash investing activities include:
Increase (decrease) in accrued capital expenditures	$	(29,046)	$	13,813
Liabilities assumed in exchange for right-of-use lease assets	$	124,383	$	108,881

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Basic and Diluted Income (Loss) Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net income (loss) attributable to common stock
Net income (loss) attributable to common stock	$ (45,706)	$ 372,528	$ 88,797	$ 256,789
Income allocable to unvested restricted shares	0	(1,447)	(73)	(1,021)
Basic income (loss) attributable to common stock	$ (45,706)	$ 371,081	$ 88,724	$ 255,768
Basic income (loss) attributable to common stock (in shares)	276,669	232,045	276,610	232,011
Basic income (loss) attributable to common stock (in dollars per share)	$ (0.17)	$ 1.60	$ 0.32	$ 1.10
Effect of Dilutive Securities:
Dilutive securities, effect on basic earnings per share, options and restrictive stock units	$ 0	$ 4,363	$ 0	$ 8,678
Convertible preferred stock (in shares)	0	43,750	0	43,750
Diluted income (loss) attributable to common stock	$ (45,706)	$ 376,891	$ 88,724	$ 265,467
Diluted income (loss) attributable to common stock (in shares)	276,669	277,614	276,610	277,485
Diluted income (loss) attributable to common stock (in dollars per share)	$ (0.17)	$ 1.36	$ 0.32	$ 0.96
Restricted Stock
Effect of Dilutive Securities:
Dilutive securities, effect on basic earnings per share, options and restrictive stock units	$ 0	$ 1,447	$ 0	$ 1,021
Dilutive effect of share-based payment arrangements (in shares)	0	680	0	640
PSUs
Effect of Dilutive Securities:
Dilutive securities, effect on basic earnings per share, options and restrictive stock units	$ 0	$ 0	$ 0	$ 0
Dilutive effect of share-based payment arrangements (in shares)	0	1,139	0	1,084

COMMITMENTS AND CONTINGENCIES	6 Months Ended
COMMITMENTS AND CONTINGENCIES	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES In December 2022, the Company entered into agreements for three new drilling rigs with a three year term and a minimum annual commitment of $12.2 million per drilling rig. Comstock expects to take delivery of two of the rigs in the second half of 2023 and the third rig in early 2024. From time to time, the Company is involved in certain litigation that arises in the normal course of its operations. The Company records a loss contingency for these matters when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. The Company does not believe the resolution of these matters will have a material effect on the Company's financial position, results of operations or cash flows and no material amounts are accrued relative to these matters at June 30, 2023 or 2022.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Summary of Liabilities Under Contract Contain Operating Leases (Detail) $ in Thousands	Jun. 30, 2023 USD ($)
Accounting Policies [Abstract]
April 1 to December 31, 2023	$ 43,143
2024	86,791
2025	59,208
2026	19,151
2027	17
Total lease payments	208,310
Imputed interest	(15,572)
Total lease liability	$ 192,738

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Common Stock and Convertible Stock Dilutive in Weighted average unearned PSUs outstanding (Detail) - $ / shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Accounting Policies [Abstract]
Weighted average PSUs (in shares)	597	1,080	586	1,065
Weighted average grant date fair value per unit (in dollars per share)	$ 15.92	$ 10.41	$ 15.92	$ 10.41

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Leases (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Apr. 01, 2022
Accounting Policies [Abstract]
Operating lease, right-of-use assets	$ 192,670		$ 192,670		$ 90,716
Operating lease, term of contract						3 years
Prior advance notice period for cancellation of rig contracts			45 days
Cash payments for operating leases associated with right-of-use assets	900	$ 800	$ 1,900	$ 1,500
Cash payments for operating leases associated with ROU assets used for investing activities	$ 41,000	$ 34,500	$ 81,600	$ 45,600
Operating lease, weighted average remaining lease term	2 years 6 months		2 years 6 months		2 years 2 months 12 days
Operating lease, weighted average discount rate, percent	5.80%		5.80%		3.50%
Expected future payments for contracted drilling services	$ 117,800		$ 117,800

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Derivative Instruments (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Asset Derivative Financial Instruments:
Derivative Financial Instruments – current	$ 17,553	$ 23,884
Liability Derivative Financial Instruments:
Derivative Financial Instruments – current	0	4,420
Derivative Financial Instruments – long-term	2,052	0
Natural gas price derivatives
Asset Derivative Financial Instruments:
Derivative Financial Instruments – current	17,553	23,884
Liability Derivative Financial Instruments:
Derivative Financial Instruments – current	0	4,420
Derivative Financial Instruments – long-term	$ 2,052	$ 0

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Shares	Additional Paid-in Capital	Accumulated Earnings (Deficit)
Beginning balance (in shares) at Dec. 31, 2021		232,925
Beginning balance at Dec. 31, 2021	$ 1,012,779	$ 116,462	$ 1,100,359	$ (204,042)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation (in shares)		(5)
Stock-based compensation	1,477	$ (2)	1,479
Net income (loss)	(111,424)			(111,424)
Payment of preferred stock dividends	(4,315)			(4,315)
Ending balance (in shares) at Mar. 31, 2022		232,920
Ending balance at Mar. 31, 2022	898,517	$ 116,460	1,101,838	(319,781)
Beginning balance (in shares) at Dec. 31, 2021		232,925
Beginning balance at Dec. 31, 2021	1,012,779	$ 116,462	1,100,359	(204,042)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	265,467
Ending balance (in shares) at Jun. 30, 2022		233,159
Ending balance at Jun. 30, 2022	1,271,279	$ 116,579	1,101,953	52,747
Beginning balance (in shares) at Mar. 31, 2022		232,920
Beginning balance at Mar. 31, 2022	898,517	$ 116,460	1,101,838	(319,781)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation (in shares)		239
Stock-based compensation	234	$ 119	115
Net income (loss)	376,891			376,891
Payment of preferred stock dividends	(4,363)			(4,363)
Ending balance (in shares) at Jun. 30, 2022		233,159
Ending balance at Jun. 30, 2022	1,271,279	$ 116,579	1,101,953	52,747
Beginning balance (in shares) at Dec. 31, 2022		277,517
Beginning balance at Dec. 31, 2022	2,278,314	$ 138,759	1,253,417	886,138
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation (in shares)		(7)
Stock-based compensation	2,046	$ (4)	2,050
Net income (loss)	134,503			134,503
Payment of common stock dividends	(34,688)			(34,688)
Ending balance (in shares) at Mar. 31, 2023		277,510
Ending balance at Mar. 31, 2023	2,380,175	$ 138,755	1,255,467	985,953
Beginning balance (in shares) at Dec. 31, 2022		277,517
Beginning balance at Dec. 31, 2022	2,278,314	$ 138,759	1,253,417	886,138
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	88,797
Ending balance (in shares) at Jun. 30, 2023		278,493
Ending balance at Jun. 30, 2023	2,300,186	$ 139,246	1,255,382	905,558
Beginning balance (in shares) at Mar. 31, 2023		277,510
Beginning balance at Mar. 31, 2023	2,380,175	$ 138,755	1,255,467	985,953
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation (in shares)		983
Stock-based compensation	406	$ 491	(85)
Net income (loss)	(45,706)			(45,706)
Payment of common stock dividends	(34,689)			(34,689)
Ending balance (in shares) at Jun. 30, 2023		278,493
Ending balance at Jun. 30, 2023	$ 2,300,186	$ 139,246	$ 1,255,382	$ 905,558

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

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+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Derivative Contracts Volume and Prices (Detail)	6 Months Ended
	Jun. 30, 2023 MMBTU $ / MMBTU
Natural Gas Price Swap Contracts:
Derivative [Line Items]
Volume (in MMBTU) \| MMBTU	47,580,000
Average price (in dollars per MMBtu)	3.50
Natural Gas Price Swap Contracts: \| Swap Contracts for 2023
Derivative [Line Items]
Volume (in MMBTU) \| MMBTU	0
Average price (in dollars per MMBtu)
Natural Gas Price Swap Contracts: \| Swap Contracts for 2024
Derivative [Line Items]
Volume (in MMBTU) \| MMBTU	47,580,000
Average price (in dollars per MMBtu)	3.50
Natural Gas Price Collar Contracts:
Derivative [Line Items]
Volume (in MMBTU) \| MMBTU	46,000,000
Average ceiling (dollars per unit)	10.28
Average floor (dollars per unit)	3.00
Natural Gas Price Collar Contracts: \| Collar Contracts for 2023
Derivative [Line Items]
Volume (in MMBTU) \| MMBTU	46,000,000
Average ceiling (dollars per unit)	10.28
Average floor (dollars per unit)	3.00
Natural Gas Price Collar Contracts: \| Collar Contract for 2024
Derivative [Line Items]
Volume (in MMBTU) \| MMBTU
Average ceiling (dollars per unit)
Average floor (dollars per unit)

COVER - shares	6 Months Ended
COVER - shares	Jun. 30, 2023	Aug. 02, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-03262
Entity Registrant Name	COMSTOCK RESOURCES, INC.
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	94-1667468
Entity Address, Address Line One	5300 Town and Country Blvd.
Entity Address, Address Line Two	Suite 500
Entity Address, City or Town	Frisco
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75034
City Area Code	972
Local Phone Number	668-8800
Title of 12(b) Security	Common Stock, par value $0.50 (per share)
Trading Symbol	CRK
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		278,480,507
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000023194
Current Fiscal Year End Date	--12-31

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.50	$ 0.50
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares issued (in shares)	278,492,648	277,517,087
Common stock, shares outstanding (in shares)	278,492,648	277,517,087

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Earnings Per Share (Detail) - shares	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Operations And Summary Of Significant Accounting Policies [Line Items]
Performance multiplier, minimum	0.00%
Performance multiplier, maximum	200.00%
Participating securities that share in losses (in shares)	0
Restricted Stock
Operations And Summary Of Significant Accounting Policies [Line Items]
Shares of unvested restricted stock outstanding (in shares)	1,494,134	966,058

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Pipe and well equipment inventory	$ 44,738	$ 34,819
Production tax refunds receivable	13,852	11,156
Prepaid expenses	2,187	2,455
Prepaid drilling costs	0	4,265
Accrued proceeds from sale of natural gas and oil properties	0	3,118
Other	0	511
Other current assets	$ 60,777	$ 56,324