One-Page Deal Sheet
Comstock Sells Interest in Bois d'Arc due to Merger With Stone Energy
Stone Energy Corp. Comstock Resources Inc.
Announced Date
August 28,2007
Close Date
August 28,2008
Transaction Type
Property
Asset/Basin:
{"Gulf of Mexico"}
Location
Country
United States
State
Texas
Transaction Details: Subscribe to see
Comstock Resources, Inc. announced that its 49% interest in its subsidiary Bois d'Arc Energy, Inc. was acquired by Stone Energy Corporation pursuant to the previously announced merger between Stone and Bois d'Arc. Comstock received $440 million in cash and 5,317,069 shares of common stock of Stone pursuant to the terms of the merger. Comstock used the cash proceeds to repay amounts outstanding under its bank credit facility.
"We are very excited about this combination and are enthusiastic about our 13% ownership interest in Stone Energy," stated M. Jay Allison, Chief Executive Officer of…
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