COMSTOCK RESOURCES, INC. (NYSE:CRK) Files An 8-K Other Events

COMSTOCK RESOURCES, INC. (NYSE:CRK) Files An 8-K Other Events
Item 8.01

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Comstock Resources, Inc. (the “Company”) is filing this Form 8-K to correct certain typographical errors contained in the following paragraphs of the Company’s Annual Report on Form 10-K, filed with the SEC on March ‎‎2, 2020 (the “2019 Form 10-K”). To the extent that the information set forth herein differs from or updates information contained in the 2019 Form 10-K, the information set forth herein shall supersede and replace the information in the 2019 Form 10-K. All page references are to pages in the 2019 Form 10-K and terms used below, unless otherwise defined, have the meanings set forth in the 2019 Form 10-K. Except as provided herein, the disclosures made in the Company’s 2019 Form 10-K remain unchanged.

The following paragraph hereby amends and restates in its entirety the third paragraph under Items 1 and 2. Business and Properties, on page 6 of the 2019 Form 10-K.

On July 16, 2019, we acquired Covey Park Energy LLC (“Covey Park”) in a cash and stock transaction valued at approximately $2.2 billion (the “Covey Park Acquisition”). Covey Park was a privately held Haynesville shale focused company producing approximately 710 MMcfe per day. The Covey Park Acquisition meaningfully increased our scale, more than doubling our asset base and created significant financial and operational efficiencies.

The following paragraph hereby amends and restates in its entirety the eighth paragraph under Items 1 and 2. Business and Properties, on page 7 of the 2019 Form 10-K.

Value-Added Acquisitions. We closed the Covey Park Acquisition in July 2019 for $2.2 billion. The acquisition included approximately 249,000 net acres and 2.9 Tcfe of proved reserves. The Covey Park Acquisition added over 710 MMcfe per day of production and approximately 1,200 future drilling locations. In November 2019, we acquired a private company for $42.3 million in an all-stock transaction, which included approximately 3,155 net acres, 75 (20.1 net to us) producing wells and 44 (12.7 net to us) Haynesville/Bossier shale future drilling locations.

The following paragraph hereby amends and restates in its entirety the fourteenth paragraph under Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations, on page 48 of the 2019 Form 10-K.

The acquisition included approximately 249,000 net acres and 2.9 Tcfe of proved reserves. The acquisition added approximately 710 MMcfe of daily average production, at the date of the acquisition, and over 1,200 net future drilling locations.

About COMSTOCK RESOURCES, INC. (NYSE:CRK)

Comstock Resources, Inc. is an energy company engaged in the acquisition, exploration, development and production of oil and natural gas in the United States. The Company operates in the segment of exploration and production of oil and natural gas. The Company’s oil and gas operations are concentrated in Texas and Louisiana. Its operations are focused in two operating areas: East Texas/North Louisiana and South Texas. The Company’s properties in the East Texas/North Louisiana region include approximately 80,660 acres in the Haynesville or Bossier shale formations. The Company’s Eagleville field includes approximately 30,220 acres located in the oil window of the Eagle Ford shale in South Texas. The Company owns interests in over 1,575 producing oil and natural gas wells, and operates over 950 of these wells. The Company owns interests in over 20 wells in the Rosita field, located in Duval County, Texas.

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