A Locke Lord team led by Jack Jacobsen (Dallas) represented Comstock Resources, Inc. in the closed acquisition of oil and gas properties from Arkoma Drilling, L.P. and Williston Drilling, L.P., entities owned by Dallas businessman Jerry Jones, in exchange for approximately 88.6 million shares of Comstock common stock. The oil and gas assets located in North Dakota and Montana were valued at $620 million. In addition, Comstock completed a comprehensive refinancing plan, which included a cash tender offer for all of the outstanding senior notes of the Company, offering of $850 million in senior notes and the closing of a new bank credit facility. For more information, see Comstock’s press release. Additional assistance was provided by John Whitlock, Megan Foscaldi and Michael Harrison (all of Boston), Juliane Dziobak (Chicago), Will Becker, Philip Bush, Van Jolas and Katy Skattum (all of Dallas) and Jerry Higdon and David Patton (all of Houston).
Posted on August 15, 2018