Comstock Resources (NYSE: CRK) saw its stock soar 9.47% in pre-market trading on Thursday, following the release of its impressive first-quarter 2025 financial results and the announcement of a strategic carbon capture partnership.

The oil and gas company reported adjusted earnings of $0.18 per share for Q1 2025, surpassing the analyst consensus estimate of $0.16. This marks a significant turnaround from the $0.03 loss per share recorded in the same period last year. Comstock's quarterly revenue also exceeded expectations, reaching $512.85 million, a 52.74% increase year-over-year and well above the analyst estimate of $423.81 million.

Adding to the positive momentum, Comstock Resources announced an exclusive, non-binding agreement with BKV Corporation to develop carbon capture, utilization, and sequestration (CCUS) projects at two of Comstock's natural gas processing facilities in its Western Haynesville operating area. This collaboration aims to enhance Comstock's environmental sustainability efforts and potentially open up new revenue streams in the growing low-carbon energy market.

The strong financial performance and strategic initiative in carbon capture technology have sparked investor enthusiasm, driving the significant pre-market rally. As the market opens, investors will be closely watching to see if Comstock Resources can maintain this upward trajectory throughout the trading session.