Comstock Resources Inc.’s second quarter results took a beating from “extraordinarily low natural gas prices,” but the company continues to shift to oil in a big way and just sealed a joint venture (JV) for its “growth engine” Eagle Ford Shale acreage. Comstock expects good things to come from the Permian Basin and plans to hold on to its Haynesville-Bossier Shale acreage in anticipation of better days for dry gas.
Articles from Reeves
Comstock Resources Inc. has established a new core area in the Delaware Basin in West Texas, agreeing to pay Eagle Oil & Gas Co. $332.7 million for approximately 68,000 gross (44,000 net) acres in Reeves County, TX, the Frisco, TX-based company said. The deal is expected to close by the end of this month.