X
    X
    X
    X

    Comstock Resources, Inc.

    A Locke Lord team led by Jack Jacobsen (Dallas) and Michael Blankenship (Houston) represented Comstock Resources, Inc. in the acquisition of Covey Park Energy LLC in a cash and stock merger valued at approximately $2.2 billion, including the assumption of Covey Park's outstanding debt and the retirement of Covey Park's existing preferred units for an aggregate total of approximately $1.1 billion. Jerry Jones, owner of the Dallas Cowboys Football Club Ltd, invested $475 million in Comstock as part of the transaction, in exchange ‎for 50,000,000 newly issued shares of Comstock common and $175 ‎million of newly issued shares of convertible preferred stock of Comstock.‎ In addition, Comstock has also entered into‎ a new $2.5 billion revolving credit facility with eighteen banks‎. The transaction closed July 16, 2019.

    The acquisition of Covey Park, a privately held natural gas company with operations in the core of the Haynesville shale basin, greatly expands Comstock’s position in the Haynesville shale. For more information, see the press release. Additional assistance was provided by Mark Backofen, Will Becker, Philip Bush, Van Jolas, Paul Nason, Chris Schrauff, Jason Schumacher, Katy Skattum, Sean Kilian, Henry Benton, Kelsey French and Stephanie McDermott (all of Dallas), Jerry HigdonMatt McKenna, Emily Self and Ben Smolij (all of Houston), Derrick Hibbard (Boston), Julie Dziobak and Laura Crotty (both of Chicago), Victoria de Lisle (New Orleans), Rob Evans (New York) and Enrique Santiago (West Palm Beach).
    Posted on July 17, 2019

    Explore Additional Topics

    Disclaimer

    Please understand that your communications with Locke Lord LLP through this website do not constitute or create an attorney-client relationship with Locke Lord LLP. Any information you send to Locke Lord LLP through this website is on a non-confidential and non-privileged basis. Therefore, do not send or include any information in your email that you consider to be confidential or privileged.