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): June
4, 2007
COMSTOCK
RESOURCES, INC.
(Exact
Name of Registrant as Specified in Charter)
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STATE
OF NEVADA
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000-16741
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94-1667468
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(State
or other
jurisdiction
incorporation)
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(Commission
File Number)
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(I.R.S.
Employer
Identification
Number)
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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:
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¨
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
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¨
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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¨
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR
240.14d-2(b))
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¨
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR
240.13e-4(c))
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Item
8.01. Other
Events
On
June
4, 2007, Comstock Resources, Inc. ("Comstock") issued a press release announcing
that on June 1, 2007 it had completed an acquisition of and gas properties
for
$32.5 million in the Javelina field in Hidalgo County in South Texas. Comstock
also announced that it was increasing its onshore budget for drilling and
exploration activities for 2007 from $278.0 to $301.0 million.
Item
9.01. Financial
Statements and Exhibits
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Exhibit
99.1
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Press
Release dated June 4, 2007.
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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.
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COMSTOCK
RESOURCES, INC.
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Dated:
June
4, 2007
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By:
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/s/
M. JAY ALLISON
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M.
Jay Allison
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President
and Chief Executive Officer
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Exhibit
99.1
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5300
Town and Country Blvd., Suite 500
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Frisco,
Texas 75034
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Telephone:
(972) 668-8800
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Contact:
Roland O. Burns
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Sr.
Vice President and Chief Financial
Officer
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Web
Site:
www.comstockresources.com
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NEWS
RELEASE
For
Immediate Release
COMSTOCK
RESOURCES, INC. ANNOUNCES $32.5 MILLION
OIL
& GAS PROPERTY ACQUISITION AND INCREASES
2007
ONSHORE DRILLING BUDGET
FRISCO,
TEXAS, June 4, 2007
--
Comstock Resources, Inc. ("Comstock" or the "Company")(NYSE:CRK) announced
today
that on June 1, 2007 it has completed an acquisition of oil and gas properties
for $32.5 million, effective April 1, 2007. With the acquisition, Comstock
acquired additional working interests in the Javelina field in Hildalgo County
in South Texas. Comstock estimates that the additional interests acquired have
proved reserves of approximately 10.6 billion cubic feet ("Bcf") of natural
gas.
In addition to the proved reserves, Comstock estimates that the properties
being
acquired have additional probable and possible reserves of 8.1 Bcf.
Comstock
also announced that it is increasing its onshore budget for development and
exploration activities for 2007 to $301 million from the previously announced
$278 million. Comstock expects to drill approximately 171 (124 net) onshore
wells in 2007. Comstock's East Texas/North Louisiana operating region accounts
for the largest portion of the revised 2007 budget with forecasted expenditures
of $188 million. Comstock now plans to drill 120 (90 net) wells in this region
in 2007. Comstock expects to spend $78 million in its South Texas region to
drill 22 (16 net) wells in 2007. The remaining $35 million of the budget will
be
spent to drill 29 (18 net) wells in its other regions.
This
press release may contain "forward-looking statements" as that term is defined
in the Private Securities Litigation Reform Act of 1995. Such statements are
based on management's current expectations and are subject to a number of
factors and uncertainties which could cause actual results to differ materially
from those described herein. Although the Company believes that the expectations
in such statements to be reasonable, there can be no assurance that such
expectations will prove to be correct.
Comstock
Resources, Inc. is a growing independent energy company based in Frisco, Texas
and is engaged in oil and gas acquisitions, exploration and development
primarily in Louisiana and Texas and in the Gulf of Mexico through its ownership
in Bois d'Arc Energy, Inc. (NYSE: BDE). The Company's stock is traded on the
New
York Stock Exchange under the symbol
CRK.