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): January 5,
2009
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
8.01 Other Events.
On
January 5, 2009, Comstock Resources, Inc. ("Comstock") issued a press release,
attached hereto as Exhibit 99.1 and incorporated herein by reference, announcing
its 2009 capital expenditure budget of $450 million.
Item
9.01 Financial Statements and Exhibits
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Exhibit 99.1
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Press
Release, dated January 5, 2009.
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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:
January 5, 2009
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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
2009
EXPLORATION AND DEVELOPMENT BUDGET
FRISCO, TEXAS, January 5, 2009
- -- Comstock Resources, Inc. ("Comstock" or the "Company") (NYSE:CRK)
announced that it plans to spend $450 million in 2009 for development and
exploration activities.
Comstock
expects to drill approximately 76 (55.9 net) wells in 2009. Comstock
will drill fewer wells in 2009 as compared to 2008 but the 2009 drilling program
will be focused on the Company's higher return opportunities, including its
extensive acreage position in the Haynesville Shale. Comstock's East
Texas/North Louisiana operating region accounts for the largest portion of the
2009 budget with forecasted expenditures of $399 million. Comstock has budgeted
to drill 66 (49.1 net) development wells in this region in 2009, which includes
forty-three (32.0 net) Haynesville Shale horizontal wells and five (4.5 net)
Cotton Valley horizontal wells. Comstock expects to spend $51 million
in its South Texas region to drill 10 (6.8 net) wells in 2009.
"Our 2009
drilling program is focused on continued exploitation of our East Texas/North
Louisiana acreage position including proving up the emerging Haynesville Shale
play and continued development of our properties in our South Texas region"
stated M. Jay Allison, Chairman and Chief Executive Officer of
Comstock. "We anticipate that our 2009 drilling program will provide
for strong reserve growth which will be our focus for this
year. Given lower natural gas prices, we plan to defer much of our
Cotton Valley development drilling which has been the largest contributor to our
production growth in 2008."
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. The Company's stock is traded
on the New York Stock Exchange under the symbol CRK.