8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported):  August 2, 2010

COMSTOCK RESOURCES, INC.

(Exact Name of Registrant as Specified in Charter)

STATE OF NEVADA	001-03262	94-1667468
(State or other jurisdiction incorporation)	(Commission File Number)	(I.R.S. Employer Identification Number)

5300 Town and Country Boulevard

Suite 500

Frisco, Texas 75034

(Address of principal executive offices)

(972) 668-8800

(Registrant's Telephone No.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02                      Results of Operations and Financial Condition

The information in this Form 8-K and the Exhibit attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.

On August 2, 2010, Comstock Resources, Inc. ("Comstock") announced financial results for the three months and six months ended June 30, 2010.  A copy of the press release announcing Comstock's earnings and operating results for the three months and six months ended June 30, 2010 and other matters is attached hereto as Exhibit 99.1.

The earnings press release contains financial measures that are not in accordance with generally accepted accounting principles in the United States ("GAAP").  Comstock has provided reconciliations within the earnings release of the non-GAAP financial measures to the most directly comparable GAAP financial measures.  Operating cash flow is presented in the earnings release because management believes it to be useful to investors as a common alternative measure of cash flows.  EBITDAX is presented in the earnings release because management believes that EBITDAX, which represents Comstock's results from operations before interest, income taxes, and certain non-cash items, including depreciation, depletion and amortization and exploration expense, is a common alternative measure of operating performance used by certain investors and financial analysts.  The non-GAAP financial measures described above should be considered in addition to, but not as a substitute for, measures of financial performance prepared in accordance with GAAP that are presented in the earnings release.

Item 9.01                      Financial Statements and Exhibits

Exhibit 99.1 Press Release dated August 2, 2010.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		COMSTOCK RESOURCES, INC.
Dated:  August 2, 2010	By:	/s/ M. JAY ALLISON
		M. Jay Allison
		President and Chief Executive Officer

EX-99.1

Exhibit 99.1

	5300 Town and Country Blvd., Suite 500
	Frisco, Texas 75034
	Telephone: (972) 668-8800
	Contact: Roland O. Burns
	Sr. Vice President and Chief Financial Officer
	Web Site: www.comstockresources.com

NEWS RELEASE

For Immediate Release

COMSTOCK RESOURCES, INC. REPORTS

SECOND QUARTER 2010 FINANCIAL AND OPERATING RESULTS

FRISCO, TEXAS, August 2, 2010 – Comstock Resources, Inc. ("Comstock" or the "Company") (NYSE: CRK) today reported financial and operating results for the three months and six months ended June 30, 2010.

Financial Results for the Three Months and Six Months Ended June 30, 2010

Comstock reported a net loss of $1.6 million or 4¢ per diluted share for the three months ended June 30, 2010 as compared to a net loss of $11.5 million or 26¢ per share for the three months ended June 30, 2009.  Comstock's production in the second quarter of 2010 grew 30% to 20.0 billion cubic feet of natural gas equivalent ("Bcfe") as compared to 15.3 Bcfe produced in the second quarter of 2009.  Production in the second quarter of 2010 averaged 219 million cubic feet of natural gas equivalent ("MMcfe") per day.  The increase in production is primarily attributable to Comstock's successful Haynesville shale drilling program.  Production from Haynesville shale wells comprised 102 MMcfe per day (47%) of the Company's tot al production in the second quarter of 2010, as compared to only 27 MMcfe per day (16%) during the second quarter of 2009.  Oil and natural gas prices improved in the second quarter of 2010 as compared to 2009's second quarter.  Comstock's average realized natural gas price increased 5% to $4.09 per Mcf for the second quarter of 2010 as compared to $3.88 per Mcf for the second quarter of 2009.  The Company's average realized oil price improved by 37% to $67.37 per barrel for the second quarter of 2010 as compared to $49.24 per barrel for the second quarter of 2009.

The higher sales volumes, combined with the higher oil and natural gas prices, resulted in sales increasing by 40% to $90.7 million in the second quarter of 2010 as compared to 2009's second quarter sales of $64.9 million.  Operating cash flow (before changes in working capital accounts) increased to $55.9 million in the second quarter of 2010 as compared to 2009's second quarter operating cash flow of $42.1 million.  EBITDAX, or earnings before interest, taxes, depreciation, depletion, amortization, exploration expense and other noncash expenses, was $62.9 million in 2010's second quarter as compared to 2009's second quarter EBITDAX of $42.2 million.

Comstock reported net income of $5.7 million or 12¢ per diluted share for the first six months of 2010 as compared to a net loss of $17.1 million or 38¢ per share in the first six months of 2009.  The improvement in net income is mainly attributable to increased production and improved oil and natural gas prices.  Comstock's production in the first half of 2010 increased 32% to 38.8 Bcfe as compared to the 29.4 Bcfe produced during the first half of 2009.  Comstock averaged $4.68 per Mcf for sales of its natural gas production in the first six months of 2010, 9% higher than the $4.30 per Mcf realized during the first six months of 2009.  Realized oil prices in the first six months of 2010 averaged $67.24 per barrel, 60% higher than the $41.95 per barrel in 2009's first six months.< /font>

Oil and gas sales for the first half of 2010 increased 48% to $196.8 million from $133.2 million in the first half of 2009.  Operating cash flow (before changes in working capital accounts) generated by Comstock in 2010's first six months of $127.5 million increased 47% from 2009's first six months operating cash flow of $86.8 million while EBITDAX increased 64% to $143.2 million in 2010's first six months from 2009's first six months EBITDAX of $87.5 million.

2010 Drilling Results

Comstock also reported on the results to date of its 2010 drilling program.  The Company spent $244.2 million during the first six months of 2010 on its exploration and development activities.  $181.8 million was spent on drilling activities and $62.4 million was spent to acquire leasehold to support future exploration activity.  During the first six months of 2010, Comstock drilled 36 wells (22.7 net), 15 of which have been successfully completed as producing wells.  As of June 30, 2010 the Company also had eight wells in the process of being drilled.

In the East Texas/North Louisiana region, Comstock drilled 35 wells (22.2 net) so far in 2010.   Thirty-four of the wells are Haynesville shale wells.  Eleven of the 24 operated Haynesville shale wells drilled in 2010 have been completed and were put on production at an average initial production rate of 12.5 MMcfe per day.

Since the Company's last operational update, Comstock has completed five operated wells in its East Texas/North Louisiana region.  Three of the completed wells are in its North Toledo Bend field in DeSoto Parish, Louisiana, one is at its Logansport field in DeSoto Parish, Louisiana and one in its Beckville field in Harrison County, Texas.  The wells at North Toledo Bend were tested an average per well initial production rate of 10 MMcfe per day, the Logansport well was tested at 16 MMcfe per day and the Beckville well in East Texas was tested at 9 MMcfe per day.  These wells were drilled with horizontal laterals from 4,500 feet to 5,000 feet and were completed with 15 to 18 frac stages.  The initial production rates reflect the Company's "choke back" program where new completions are being tested and produced with a tighter choke to maintain a higher reservoir pressure in the we ll for a longer time.  The Company believes that the ultimate reserve recovery will improve for the wells under this program.

In addition to its Haynesville shale horizontal drilling program, Comstock has drilled two vertical wells during 2010.  Comstock successfully completed a Cotton Valley well in its Blocker field in East Texas and also completed the Julian Pasture #4 in its Ball Ranch field in South Texas which was tested at an initial production rate of 8 MMcfe per day.

Due to the high demand for high pressure pumping services, the Company currently has 17 wells which are drilled and waiting on completion.  Comstock is working with oil field service providers to address its backlog of wells awaiting completion but does not expect the situation to improve until late 2010 or early 2011.  With the substantial delays in completions, Comstock now expects its production level to decrease in the third quarter from the second quarter.

During the second quarter of 2010, Comstock began an active lease acquisition program in the Eagle Ford shale play in South Texas.  The Company has acquired or is in the process of acquiring leasehold interests in approximately 18,000 net acres which are prospective for Eagle Ford shale and plans on acquiring up to an additional 10,000 acres.  Comstock expects to begin drilling operations in the Eagle Ford shale during the third quarter of 2010 by moving one of its drilling rigs from its East Texas/North Louisiana region.  Comstock has also increased its leasehold position in the Haynesville shale and Bossier shale plays in North Louisiana and East Texas.  Since the beginning of the year the Company has added approximately 5,000 net acres prospective for both the Haynesville and Bossier shales. & #160;

The Company expects to spend approximately $500 million in 2010 for exploration and development activities.  $350 million will be spent to drill 69 wells (46.5 net) with $150 million to acquire exploratory acreage prospective for the Haynesville and Eagle Ford shale.  All but three of the wells will be horizontal wells drilled to test either Haynesville or Eagle Ford shale.

Comstock has planned a conference call for 9:30 a.m. Central Time on Tuesday, August 3,2010, to discuss the operational and financial results for the second quarter of 2010.  Investors wishing to participate should visit the Company's website at www.comstockresources.com for a live web cast or dial 1-888-396-2298 (international dial-in use 617-847-8708) and provide access code 69569175 when prompted.  If you are unable to participate in the original conference call, a web replay will be available approximately 24 hours following the completion of the call on Comstock's website at www.comstockresources.com.  The web replay will be available for approximately one week.

This press release may contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995.  Such statements are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein.  Although the Company believes the expectations in such statements to be reasonable, there can be no assurance that such expectations will prove to be correct.

Comstock Resources, Inc. is an independent energy company based in Frisco, Texas and is engaged in oil and gas acquisitions, exploration and development primarily in Texas and Louisiana.  The Company's stock is traded on the New York Stock Exchange under the symbol CRK.

COMSTOCK RESOURCES, INC.

OPERATING RESULTS

(In thousands, except per share amounts)

	Three Months Ended June 30,						Six Months Ended June 30,
	2010			2009			2010			2009
Revenues:
Oil and gas sales	$	90,682		$	64,875		$	196,771		$	133,226
Operating expenses:
Production taxes		4,806			2,516			6,481			3,638
Gathering and transportation		3,679			1,350			8,207			2,594
Lease operating		13,988			13,619			28,148			28,212
Exploration		99			131			1,268			144
Depreciation, depletion and amortization		57,398			50,796			116,807			98,068
Impairment of oil and gas properties		28			—			187			—
General and administrative		9,764			9,051			19,565			18,870
Total operating expenses		89,762			77,463			180,663			151,526
Operating income (loss)		920			(12,588	)		16,108			(18,300	)
Other income (expenses):
Interest income		119			10			258			32
Other income		25			29			45			92
Gain on sale of assets		4,895			—			4,895			—
Interest expense		(7,599	)		(2,901	)		(15,443	)		(5,063	)
Total other income (expenses)		(2,560	)		(2,862	)		(10,245	)		(4,939	)
Income (loss) before income taxes		(1,640	)		(15,450	)		5,863			(23,239	)
Benefit from (provision for) income taxes		21			3,975			(140	)		6,107
Net income (loss)	$	(1,619	)	$	(11,475	)	$	5,723		$	(17,132	)
Net income (loss) per share:
Basic	$	(0.04	)	$	(0.26	)	$	0.12		$	(0.38	)
Diluted	$	(0.04	)	$	(0.26	)	$	0.12		$	(0.38	)
Weighted average shares outstanding:
Basic		45,579			45,000			45,594			44,971
Diluted		45,579	(1)		45,000	(1)		45,571			44,971	(1)

(1)  Basic and diluted shares are the same due to the net loss.

COMSTOCK RESOURCES, INC.

OPERATING RESULTS

(In thousands)

	Three Months Ended June 30,						Six Months Ended June 30,
	2010			2009			2010			2009
OPERATING CASH FLOW:
Net income (loss)	$	(1,619	)	$	(11,475	)	$	5,723		$	(17,132	)
Reconciling items:
Deferred income taxes		12			(1,263	)		(43	)		(1,984	)
Depreciation, depletion and amortization		57,398			50,796			116,807			98,068
Impairment of oil and gas properties		28			—			187			—
Gain on sale of assets		(4,895	)		—			(4,895	)		—
Debt issuance costs and discount amortization		624			202			1,226			405
Stock-based compensation		4,309			3,820			8,542			7,487
Operating cash flow		55,857			42,080			127,547			86,844
Excess tax benefit from stock-based compensation		(41	)		(245	)		(1,531	)		(924	)
Decrease (increase) in accounts receivable		3,332			3,625			(1,454	)		13,810
Decrease (increase) in other current assets		3,619			(889	)		49,436			(654	)
Increase (decrease) in accounts payable and accrued expenses		11,721			(15,588	)		25,226			(29,631	)
Net cash provided by operating activities	$	74,488		$	28,983		$	199,224		$	69,445
EBITDAX:
Net income (loss)	$	(1,619	)	$	(11,475	)	$	5,723		$	(17,132	)
Interest expense		7,599			2,901			15,443			5,063
Income tax expense (benefit)		(21	)		(3,975	)		140			(6,107	)
Depreciation, depletion and amortization		57,398			50,796			116,807			98,068
Impairment of oil and gas properties		28			—			187			—
Gain on sale of assets		(4,895	)		—			(4,895	)		—
Stock-based compensation		4,309			3,820			8,542			7,487
Exploration		99			131			1,268			144
EBITDAX	$	62,898		$	42,198		$	143,215		$	87,523

	As of June 30,
	2010		2009
BALANCE SHEET DATA:
Cash and cash equivalents	$	42,651	$	3,970
Derivative financial instruments		—		11,922
Income taxes receivable		—		6,138
Current deferred income tax asset		5,625		10,196
Marketable securities		53,535		36,099
Other current assets		45,303		36,616
Property and equipment, net		1,715,099		1,521,578
Other		8,330		2,748
Total assets	$	1,870,543	$	1,629,267
Accounts payable and accrued expenses	$	109,814	$	80,280
Long-term debt		468,104		315,000
Deferred income taxes		224,484		182,975
Other non-current liabilities		9,419		5,830
Stockholders' equity		1,058,722		1,045,182
Total liabilities and stockholders' equity	$	1,870,543	$	1,629,267

COMSTOCK RESOURCES, INC.

REGIONAL OPERATING RESULTS

(In thousands, except per unit amounts)

	For the Three Months Ended June 30, 2010								For the Three Months Ended June 30, 2009
	East Texas/								East Texas/
	North		South						North		South
	Louisiana		Texas		Other		Total		Louisiana		Texas		Other			Total
Oil production (thousand barrels)		50		39		121		210		65		38		102			205
Gas production (MMcf)		14,288		3,790		631		18,709		8,613		4,823		672			14,108
Total production (MMcfe)		14,590		4,024		1,356		19,970		9,008		5,052		1,277			15,337
Oil sales	$	3,894	$	2,953	$	7,309	$	14,156	$	3,408	$	2,114	$	4,560		$	10,082
Gas sales		57,381		16,334		2,811		76,526		28,257		17,146		2,276			47,679
Gas hedging gains		—		—		—		—		—		7,114		—			7,114
Total gas sales		57,381		16,334		2,811		76,526		28,257		24,260		2,276			54,793
Total oil and gas sales	$	61,275	$	19,287	$	10,120	$	90,682	$	31,665	$	26,374	$	6,836		$	64,875
Average oil price (per barrel)	$	77.25	$	75.57	$	60.59	$	67.37	$	52.43	$	55.63	$	44.71		$	49.24
Average gas price (per Mcf)	$	4.02	$	4.31	$	4.45	$	4.09	$	3.28	$	3.56	$	3.39		$	3.38
Average gas price including hedging (per Mcf)	$	4.02	$	4.31	$	4.45	$	4.09	$	3.28	$	5.03	$	3.39		$	3.88
Average price (per Mcfe)	$	4.20	$	4.79	$	7.46	$	4.54	$	3.52	$	3.81	$	5.35		$	3.77
Average price including hedging (per Mcfe)	$	4.20	$	4.79	$	7.46	$	4.54	$	3.52	$	5.22	$	5.35		$	4.23
Production taxes	$	3,670	$	526	$	610	$	4,806	$	1,211	$	910	$	395		$	2,516
Gathering and transportation	$	3,339	$	237	$	103	$	3,679	$	536	$	707	$	107		$	1,350
Lease operating	$	6,814	$	3,861	$	3,313	$	13,988	$	7,002	$	3,661	$	2,956		$	13,619
Production taxes (per Mcfe)	$	0.25	$	0.13	$	0.45	$	0.24	$	0.13	$	0.18	$	0.31		$	0.16
Gathering and transportation (per Mcfe)	$	0.23	$	0.06	$	0.08	$	0.18	$	0.06	$	0.14	$	0.08		$	0.09
Lease operating (per Mcfe)	$	0.47	$	0.96	$	2.44	$	0.71	$	0.78	$	0.72	$	2.32		$	0.89
Oil and Gas Capital Expenditures:
Leasehold costs	$	29,523	$	22,844	$	72	$	52,439	$	3,767	$	60	$	103		$	3,930
Exploratory drilling		6,407		—		—		6,407		30,034		81		—			30,115
Development drilling		89,252		576		—		89,828		36,195		4,834		111			41,140
Other development		841		694		255		1,790		1,814		312		(36	)		2,090
Total	$	126,023	$	24,114	$	327	$	150,464	$	71,810	$	5,287	$	178		$	77,275

COMSTOCK RESOURCES, INC.

REGIONAL OPERATING RESULTS

(In thousands, except per unit amounts)

	For the Six Months Ended June 30, 2010								For the Six Months Ended June 30, 2009
	East Texas/								East Texas/
	North		South						North		South
	Louisiana		Texas		Other		Total		Louisiana		Texas		Other		Total
Oil production (thousand barrels)		87		81		218		386		128		89		204		421
Gas production (MMcf)		27,267		7,903		1,333		36,503		15,792		9,734		1,375		26,901
Total production (MMcfe)		27,790		8,391		2,636		38,817		16,563		10,270		2,592		29,425
Oil sales	$	6,638	$	6,137	$	13,154	$	25,929	$	5,683	$	4,193	$	7,767	$	17,643
Gas sales		123,848		40,059		6,935		170,842		59,575		38,110		4,872		102,557
Gas hedging gains		—		—		—		—		—		13,026		—		13,026
Total gas sales		123,848		40,059		6,935		170,842		59,575		51,136		4,872		115,583
Total oil and gas sales	$	130,486	$	46,196	$	20,089	$	196,771	$	65,258	$	55,329	$	12,639	$	133,226
Average oil price (per barrel)	$	76.19	$	75.39	$	60.59	$	67.24	$	44.40	$	47.11	$	38.07	$	41.95
Average gas price (per Mcf)	$	4.54	$	5.07	$	5.20	$	4.68	$	3.77	$	3.92	$	3.54	$	3.81
Average gas price including hedging (per Mcf)	$	4.54	$	5.07	$	5.20	$	4.68	$	3.77	$	5.25	$	3.54	$	4.30
Average price (per Mcfe)	$	4.70	$	5.51	$	7.62	$	5.07	$	3.94	$	4.12	$	4.88	$	4.08
Average price including hedging (per Mcfe)	$	4.70	$	5.51	$	7.62	$	5.07	$	3.94	$	5.39	$	4.88	$	4.53
Production taxes	$	4,786	$	608	$	1,087	$	6,481	$	1,354	$	1,533	$	751	$	3,638
Gathering and transportation	$	6,999	$	1,010	$	198	$	8,207	$	809	$	1,562	$	223	$	2,594
Lease operating	$	14,762	$	7,329	$	6,057	$	28,148	$	14,089	$	7,685	$	6,438	$	28,212
Production taxes (per Mcfe)	$	0.17	$	0.07	$	0.41	$	0.17	$	0.08	$	0.15	$	0.29	$	0.12
Gathering and transportation (per Mcfe)	$	0.25	$	0.12	$	0.08	$	0.21	$	0.05	$	0.15	$	0.09	$	0.09
Lease operating (per Mcfe)	$	0.54	$	0.88	$	2.30	$	0.72	$	0.85	$	0.75	$	2.48	$	0.96
Oil and Gas Capital Expenditures:
Leasehold costs	$	39,378	$	22,844	$	128	$	62,350	$	7,168	$	331	$	103	$	7,602
Exploratory drilling		23,438		—		—		23,438		66,501		1,893		—		68,394
Development drilling		152,494		2,170		—		154,664		67,852		23,786		111		91,749
Other development		1,875		1,323		501		3,699		3,212		3,278		296		6,786
Total	$	217,185	$	26,337	$	629	$	244,151	$	144,733	$	29,288	$	510	$	174,531