Any or all of our forward-looking statements in this report may turn out to be incorrect. "MMBbls" means one million barrels of oil. "MMcfe/d" means one million cubic feet of natural gas equivalent per day. StrengthsHigh Quality Properties. Our natural gas proved undeveloped reserves increased by 144.4 Bcf during 2020. Our internal audit function routinely tests our processes and controls. We expect deliveries under this commitment to commence in the fourth quarter of 2021. Regulation and transportation of natural gas. We are subject to stringent federal, state and local laws. When caused by human activity, such events are called induced seismicity. Additional regulations may still be forthcoming. BLM did not defend the 2016 rule, and it was vacated. In January 2021, we extended this lease to December 31, 222024. From 1982 to 1990, Mr. Burns was employed by the public accounting firm, Arthur Andersen. Daniel K. Presley has been our Treasurer since 2013. Ms. Sanders has been with us since 1995. He is on the Board of Directors of INSURICA, a full service insurance agency. Our access to capital markets may be limited in the future. The draft report was finalized in December 2016. Any of these consequences could have a material effect on our business. ITEM 1B. UNRESOLVED STAFF COMMENTSNone. The level of our drilling activity is dependent on natural gas prices. NOLs incurred prior to 2018 generally have a 20-year life until they expire. NOLs generated in 2018 and after would be carried forward indefinitely. In June 2016, The FASB issued Accounting Standards Update ASU No. We believe that our audit provides a reasonable basis for our opinion. Suite 500, Frisco, Texas 75034, (972) 668-8800. We conducted our audits in accordance with the standards of the PCAOB. The Company\'s operations are primarily focused in Texas, Louisiana and North Dakota. Net income (loss) and comprehensive income (loss) are the same in all periods presented. All adjustments are of a normal recurring nature unless otherwise disclosed. As a result, the Jones Contribution was not accounted for as a business combination. These inputs represent Level 2 inputs. Actual amounts could differ from those estimates. Oil and gas sales are generally unsecured. Costs incurred to acquire oil and gas leasehold are capitalized. The Company determines if contracts contain a lease at inception of the contract. Comstock currently has no finance-type leases. During 2020, the Company leased 13,519 net acres for a total lease cost of $7.9 million. The service contracts are generally cancellable with 45 days notice. No settlement occurs when the settlement price falls between the floor and cap. None of the Company\'s derivative contracts are designated as cash flow hedges. Revisions of previous estimates. Therefore, we believe it is unlikely that this statute will apply to us. Section 2.Amendments to the Existing Credit Agreement. ( 333-237677) of Comstock Resources, Inc.; and(7)Registration Statement (Form S-3 No. This audit was completed January 21, 2021. It should not be construed as a fair market or trading value. See the attached Appendix: SEC Petroleum Reserve Definitions. Wells which were shut-in for market conditions or pipeline connections; oriii. Provisions were made for state severance and ad valorem taxes where applicable. All expenses reflect known operational conditions throughout the life of each lease. These costs have been held constant from current estimates. No at
