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Stock impact report

UPDATE 1-Comstock Resources to acquire Covey Park in $2.2 billion deal [Reuters]

Comstock Resources, Inc. (CRK) 
Last comstock resources, inc. earnings: 2/26 04:30 pm Check Earnings Report
Company Research Source: Reuters
Comstock Resources to acquire Covey Park in $2.2 billion deal - Reuters 2 Min Read (Reuters) - Comstock Resources Inc said on Monday it would buy privately held natural gas company Covey Park in a deal valued at about $2.2 billion, including debt, to strengthen its position in the Haynesville shale basin. The cash-and-stock deal would raise Comstock’s net production to more than 1.1 billion cubic feet equivalent per day, the company said. Dallas-based billionaire Jerry Jones, who first invested in Comstock in April last year, will infuse an additional $475 million in cash for 50,000,000 of newly issued shares of Comstock common stock. The additional equity investment brings Jerry Jones’ total investment in Comstock to about $1.1 billion. Natural gas output at Haynesville, located in northern Louisiana and eastern Texas, is projected to be the second fastest-growing among shale basins this month, according to U.S. Energy Information Administration. Wells Fargo Securities, LLC and BMO C Show less Read more
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