The Jerry Jones effect: the Comstock-Covey Park acquisition Securities analysts had views about today’s announced acquisition of privately held Covey Park Energy by Comstock Resources (stock ticker: CRK) for $2.2 billion. Size matters (From: EnerCom Inc. Managing Director Aaron Vandeford) This deal checks a few important boxes for the market. Post-merger, Comstock will hold approximately 374,000 net acres, 5.4 Tcf
Comstock Resources, Inc. (NYSE: CRK) announced today that its wholly-owned subsidiary, Comstock Escrow Corporation, has priced its previously announced offering of $850 million in aggregate principal amount of 9.75% new senior unsecured notes due 2026. The Senior Notes will bear interest at 9.75% per annum and will be issued at 95.988% of their face value. The sale of the Senior
Comstock Resources, Inc. (NYSE: CRK) announced that it was the successful bidder on Package 2 – North Louisiana Properties at an auction held July 17, 2018, that was conducted under the Chapter 11 bankruptcy proceedings of Enduro Resource Partners LLC, et. al. The North Louisiana properties consist of approximately 21,000 gross acres (9,900 net) primarily in Caddo and DeSoto Parishes
Comstock Resources, Inc. (NYSE: CRK) announced today that, subject to market and other conditions, its wholly-owned subsidiary Comstock Escrow Corporation intends to offer for sale in a private placement under Rule 144A and Regulation S under the Securities Act of 1933, as amended, $850.0 million in aggregate principal amount of senior unsecured notes due 2026. The gross proceeds of the
From Forbes Comstock Resources Inc. has been a bummer over the past few years. While the debt-strapped company didn’t file for bankruptcy like many of its peers when oil prices tumbled (it swapped part of its bonds with convertible notes instead), it entertained a move earlier this month that would dilute shareholders, sending its stock down 17% to $6.06 per share. Its shares spent
Haynesville producer Comstock Resources, Inc. (ticker: CRK) produced 22 Bcf of natural gas and 214,000 barrels, or 23.5 Bcfe in the fourth quarter of 2017. Natural gas production averaged 241 MMcf/d, reflecting growth of 90% from pro forma natural gas production in the fourth quarter of 2016 (excluding the divestitures completed in 2016). According to Comstock, the growth in natural
Comstock Resources (ticker: CRK), based in Frisco, Texas is in the business of acquisition, development, production and exploration for natural gas and oil with operations concentrated in Texas and Louisiana. Comstock’s primary acreage blocks are in the Haynesville shale and the Eagle Ford shale, representing approximately 800 drilling locations. Comstock’s 2018 drilling program will target ~30% growth within operating
