UPDATE 1-Comstock Resources posts wider-than-expected Q3 loss

* Q3 loss/shr $0.28 vs est $0.27 loss/shr

* Q3 rev nearly halves, misses estimates

* Lower realized prices offset rise in production

* Sees spending $355 mln on '09 drilling program

Nov 2 (Reuters) - Energy company Comstock Resources Inc (CRK.N) reported a wider-than-expected quarterly loss, as lower oil and natural gas prices offset a rise in production.

For the latest third quarter, the company reported a net loss of $12.6 million, or 28 cents a share, compared with net income from continuing operations of $54.8 million, or $1.18 a share, last year.

Sales fell nearly 60 percent to $67.4 million, hurt by lower oil and natural gas prices. Averaged realized prices for natural gas fell 64 percent, while realized oil prices in the third quarter averaged 45 percent lower than a year ago.

Quarterly production, however, rose 13 percent to 17.0 billion cubic feet equivalent of natural gas (Bcfe).

Analysts on average were looking for a loss of 27 cents a share, on revenue of about $73 million, according to Thomson Reuters I/B/E/S.

Shares of the company, which have so far risen more than 50 percent from a March year-low, closed at $42.72 Monday on the New York Stock Exchange. (Reporting by Adveith Nair in Bangalore; Editing by Unnikrishnan Nair)