Comstock Resources closes acquisition
Comstock Resources says it has closed a previously announced $170 million acquisition of oil and gas properties and related assets from SWEPI LP, an affiliate of Shell Oil Co. The South Texas properties include 67 wells currently producing 22 million cubic feet of natural gas equivalent per day. Comstock estimates the acquired properties have net proved reserves of approximately 57 billion cubic feet of natural gas. The company also says it estimates that the properties could yield an additional 90 billion cubic feet of resources potential from future exploitation. Frisco-based Comstock Resources Inc. (NYSE:CRK) is an independent energy company engaged in oil and gas acquisitions, exploration and development, primarily in Louisiana and Texas, and in the Gulf of Mexico.
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- December 31st
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