One-Page Deal Sheet
Comstock Sells Conventional South TX Gas Properties for $28MM
Not Disclosed Comstock Resources Inc.
Announced Date
October 17,2016
Effective Date
August 01,2016
Close Date
December 12,2016
Transaction Type
Property
Enterprise Value (EV)($MM)
28
Asset/Basin:
{"Gulf Coast - South Texas"}
Net Acres
Proved Reserves
Location
Region
Gulf Coast - South Texas
Country
United States
State
Texas
Production & Reserves Production
Reserves
Transaction Details: Subscribe to see
Comstock Resources has entered into a deal to sell its conventional natural gas properties in South Texas for a sale price of $28.0 million. The sale is expected to close in December 2016 and will have an effective date of August 1, 2016. Comstock intends to use the proceeds from the sale toward funding its 2016 drilling program.
The properties being sold are producing approximately 9.6 million cubic feet per day of natural gas and 22 barrels of oil per day. At September 30, 2016, Comstock's proved reserves included approximately 57,000 barrels of oil and 48.9 billion cubic feet of natural…
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