COMSTOCK RESOURCES INC — Capital/Financing Update 2007

Nov 29, 2007

8-K 1 form8kcomstocknovember2607.htm COMSTOCK RESOURCES, INC. FORM 8-K form8kcomstocknovember2607.htm Licensed to: Comstock Resources Inc. Document Created using EDGARizer 4.0.1.0 Copyright 2007 EDGARfilings, Ltd., an IEC company. All rights reserved EDGARfilings.com

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported): November 26, 2007

COMSTOCK RESOURCES, INC.

(Exact Name of Registrant as Specified in Charter)

| STATE
OF NEVADA | 000-16741 | 94-1667468 |
| --- | --- | --- |
| (State
or other jurisdiction
of incorporation) | (Commission
File Number) | (I.R.S.
Employer Identification
Number) |

5300 Town And Country Boulevard

Suite 500

Frisco, Texas 75034

(Address of principal executive offices)

(972) 668-8800

(Registrant's Telephone No.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

| ¨ | Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425) |
| --- | --- |
| ¨ | Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12) |
| ¨ | Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b)) |
| ¨ | Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c)) |

Item 1.01. Entry into a Material Definitive Agreement

On November 26, 2007, Comstock Oil and Gas, LP, an indirect wholly-owned subsidiary of Comstock Resources, Inc. ("Comstock"), entered into a purchase and sale agreement with SWEPI LP, an affiliate of Shell Oil Company ("Shell") to acquire from Shell certain oil and gas properties and related assets for $170.0 million in cash (subject to adjustment). The transaction will be effective October 1, 2007 and is expected to close in December 2007. Comstock will acquire producing properties in South Texas which include 70 (43.3 net) producing wells. Comstock estimates that the properties being acquired have net proved reserves of approximately 57.8 billion cubic feet of natural gas ("Bcf"). All of the reserves acquired are in the developed category. In addition to the proved reserves, Comstock estimates that the properties being acquired could yield an additional 90 Bcf of resources potential from future exploitation. The Purchase and Sale Agreement relating to this transaction is attached hereto as Exhibit 2.1.

Item 9.01. Financial Statements, Pro Forma Financial Information and Exhibits

(a) Financial Statements of Business Acquired

Not Applicable

(b) Pro Forma Financial Information

Not Applicable

(c) Exhibits. The following exhibits are filed with this document:

| Exhibit
No. | Description |
| --- | --- |
| 2.1 | Purchase
and Sale Agreement dated November 26, 2007 |
| 99.1 | Press
Release Dated November 26, 2007 announcing the
acquisition |

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

| COMSTOCK
RESOURCES, INC. — /s/
M. JAY ALLISON |
| --- |
| M.
Jay Allison |
| President
and Chief Executive Officer |