Comstock Resources to sell $100.5 million in shares to majority shareholder Jerry Jones
Comstock Resources agreed to sell 12,500,000 common shares for about $100.5 million to two Jerry Jones-controlled entities, at $8.036 per share. The company says it will use the proceeds to pay down bank debt incurred for recent Western Haynesville acreage acquisitions, and Jones's stake would rise to about 67% from 65%.
Key points
- Buyers: Arkoma Drilling L.P. and Williston Drilling L.P., both controlled by majority shareholder Jerry Jones
- Price of $8.036 per share, the average closing price for the five trading days ended March 20, 2024
- Proceeds to repay bank debt partly used to fund acquisitions of 200,000 net undeveloped acres in the Western Haynesville for $58.7 million
- Closing is subject to customary conditions, including an amended and restated registration rights agreement
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:01 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 20, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.