2008-09-02-2008-06-01-2008-07-01
Acquired interests in J.C. Martin, AWP, East Seven Sisters fields, TX, gaining 44.3 Bcfe proved, 8.4 MMcf/d.
An undisclosed buyer plans to acquire East Texas and South Texas properties from Comstock Resources Inc., Frisco, Texas, (NYSE: CRK) for $122 million. The properties include Comstock's interests in J.C. Martin, AWP and East Seven Sisters fields in South Texas and Gilmer Field in East Texas. Comstock owns net profit interests in these fields that are operated by other parties. Estimated proved reserves are 44.3 billion cubic feet equivalent. Net production in first-quarter 2008 was 8.5 million cubic feet per day. Scotia Waterous (USA) Inc. is advisor to Comstock. The effective date is April 1. The closing is expected in June. Comstock operations are primarily in Texas, Louisiana and the Gulf of Mexico. Comstock holds a 49% stake in Bois d'Arc Energy Inc., Houston, (NYSE: BDE) which is being acquired by Stone Energy Corp., Lafayette, La., (NYSE: SGY) for approximately $1.8 billion.