SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q/A
AMENDMENT OT APPLICATION OR REPORT
Filed pursuant to Section 12, 13 or 15(d) of
THE SECURITIES EXCHANGE ACT OF 1934
For The Quarter Ended March 31, 1996
Commission File No. 0-16741
COMSTOCK RESOURCES, INC.
(Exact name of registrant as specified in its charter)
AMENDMENT NO. 1
The undersigned hereby amends the following item: financial statements of
its Quarterly Report on form 10Q for the three months ended March 31, 1996, as
set forth in the page attached hereto:
Page No.
ITEM 1. FINANCIAL STATEMENTS
Consolidated Balance Sheets -
March 31, 1996 and December 31, 1995.......................4
ITEM 1. Financial Information
The following page 4 under the above referenced item replaces page 4 in its
entirety:
COMSTOCK RESOURCES, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
ASSETS
March 31, December 31,
1996 1995
------------- -------------
(Unaudited)
Cash and Cash Equivalents $ 657,816 $ 1,916,648
Accounts Receivable:
Oil and gas sales 6,780,000 5,385,000
Gas marketing sales 11,325,600 8,450,794
Joint interest operations 1,448,177 1,230,403
Prepaid Expenses and Other 615,980 172,093
Inventory 91,005 92,139
------------- -------------
Total current assets 20,918,578 17,247,077
------------- -------------
Property and Equipment:
Oil and gas properties, successful efforts method 156,918,688 154,843,663
Other 2,776,143 2,717,625
Accumulated depreciation, depletion
and amortization (58,025,109) (55,445,097)
------------- -------------
Net property and equipment 101,669,722 102,116,191
------------- -------------
Other Assets 933,768 735,398
------------- -------------
$123,522,068 $120,098,666
============= =============
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Portion of Long-term Debt $ 10,260,566 $ 18,677,181
Accounts Payable and Accrued Expenses 18,958,008 16,511,219
------------- -------------
Total current liabilities 29,218,574 35,188,400
------------- -------------
Long-term Debt, less current portion 59,505,625 53,133,751
Deferred Revenue 322,501 430,000
Other Noncurrent Liabilities 1,185,071 1,218,742
Stockholders' Equity:
Preferred stock - $10.00 par, 5,000,000 shares
authorized, 3,100,000 shares outstanding at
March 31, 1996 and December 31, 1995 31,000,000 31,000,000
Common stock - $.50 par, 30,000,000 shares authorized,
13,120,242 and 12,926,672 shares outstanding
at March 31, 1996 and December 31, 1995, respectively 6,560,122 6,463,336
Additional paid-in capital 38,861,759 38,182,398
Retained deficit (43,067,990) (45,444,055)
Less: Deferred compensation - restricted stock grants (63,594) (73,906)
------------- -------------
Total stockholders' equity 33,290,297 30,127,773
------------- -------------
$123,522,068 $120,098,666
============= =============
The accompanying notes are an integral part of these statements.
4
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be singed on its behalf by the
undersigned hereunto duly authorized.
COMSTOCK RESOURCES, INC.
Dated: May 17, 1996 By:/s/ ROLAND O. BURNS
----------------------
Roland O. Burns, Senior Vice President
Chief Financial Officer, Secretary and
Treasurer (Principal Financial and
Accounting Officer)
