Crestwood paid $65 million at closing which was funded with available capacity under Crestwood's revolving credit facility.
During the first nine months of 2011, Comstock spent $443.4 million on its drilling program and $52.6 million to acquire acreage to support future exploration and development activity.
The project is connected to 12 interstate pipeline systems and is the only southerly option that avoids potential bottlenecks at the Perryville hub.
The company also reported adjusted EBITDA of $353.7 million for the third quarter of 2011 compared to $297.5 million in the 2010 period, a 19% increase.