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): August 28, 2008
COMSTOCK
RESOURCES, INC.
(Exact
Name of Registrant as Specified in Charter)
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STATE
OF NEVADA
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001-03262
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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
2.01. Completion of
Acquisition or Disposition of Assets.
Comstock
Resources, Inc. announced that on August 28, 2008 it sold its stake in its
49% owned subsidiary Bois d'Arc Energy, Inc. ("Bois d'Arc") (NYSE: BDE) to Stone
Energy Corporation ("Stone") (NYSE: SGY). Comstock received $440
million in cash and 5,317,069 shares of the common stock of Stone for its stake
in Bois d'Arc. Comstock used the cash proceeds to repay amounts
outstanding under it bank credit facility. Comstock expects to have a
$148 million current tax liability as a result of the gain resulting
from this transaction. A copy of this press release is attached
hereto as Exhibit
99.1.
Item
9.01. Financial Statements
and Exhibits.
(d) Exhibits.
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99.1
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Press
release dated August 28, 2008.
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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: August
28, 2008
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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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2
INDEX
TO EXHIBITS
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99.1
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Press
release dated August 28, 2008.
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3
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
SALE
OF BOIS d'ARC ENERGY, INC. TO
STONE
ENERGY CORPORATION
FRISCO, TEXAS, August 28, 2008
- -- Comstock Resources, Inc. ("Comstock") (NYSE: CRK) announced that its 49%
interest in its subsidiary Bois d'Arc Energy, Inc. ("Bois d'Arc") (NYSE: BDE)
was acquired by Stone Energy Corporation ("Stone") (NYSE: SGY) pursuant to the
previously announced merger between Stone and Bois d'Arc. Comstock
received $440 million in cash and 5,317,069 shares of common stock of Stone
pursuant to the terms of the merger. Comstock used the cash proceeds
to repay amounts outstanding under its bank credit facility.
"We are
very excited about this combination and are enthusiastic about our 13% post
merger ownership interest in Stone Energy," stated M. Jay Allison, Chief
Executive Officer of Comstock. "After the merger Stone is one of the
largest Gulf of Mexico focused operating companies. The completion of
this transaction will allow Comstock to focus entirely on growing its onshore
operations and will provide capital to develop our leasehold position in the
emerging Haynesville shale gas play in East Texas and North
Louisiana."
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
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.