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): May 1, 2012
COMSTOCK RESOURCES, INC.
(Exact Name of Registrant as Specified in Charter)
|
STATE OF NEVADA
|
001-03262
|
94-1667468
|
|
(State or other
jurisdiction 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 2.01 Completion of Acquisition or Disposition of Assets
The information in this Form 8-K and the Exhibit attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.
On May 1, 2012 we issued a press release, attached hereto as Exhibit 99.1 and incorporated herein by reference, announcing the closing of our previously announced divestitures of certain of our oil and natural gas properties and net proceeds from sales of these properties of approximately $123.0 million. A copy of the press release announcing the disposal of certain of our oil and gas properties and other matters is attached hereto as Exhibit 99.1.
Item 9.01 Financial Statements, Pro Forma Financial Information and Exhibits
|
(a)
|
Pro Forma Financial Information
|
The pro forma financial information required by this Item will be filed by an amendment to this Current Report on Form 8-K as soon as practicable, but not later than 71 calendar days after the date that the initial report on Form 8-K must be filed.
|
(b)
|
Exhibits. The following Exhibits are filed with this document:
|
|
Exhibit 99.1
|
Press Release, dated May 1, 2012.
|
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.
|
||
|
Dated: May 1, 2012
|
By:
|
/s/ ROLAND O. BURNS
|
|
Roland O. Burns
|
||
|
Senior Vice President and Chief Financial Officer
|
Exhibit 99.1
|
5300 Town and Country Blvd., Suite 500
|
|
 |
Frisco, Texas 75034
|
|
Telephone: (972) 668-8800
|
|
|
Contact: Roland O. Burns
|
|
|
Sr. Vice President and Chief Financial Officer
|
|
|
Web Site: www.comstockresources.com
|
NEWS RELEASE
For Immediate Release
COMSTOCK RESOURCES, INC. COMPLETES
OIL AND GAS PROPERTY DIVESTITURES
FRISCO, TEXAS, May 1, 2012 – Comstock Resources, Inc. ("Comstock" or the "Company") (NYSE: CRK) announced that it had completed the previously announced divestiture of certain oil and gas properties located in Tyler and Polk counties in South Texas and Lincoln Parish in North Louisiana.
The net proceeds realized from these divestitures after purchase price adjustments and selling costs are approximately $123.0 million and are being used to pay down outstanding borrowings under the Company's bank credit facility and for general corporate purposes.
"Successful completion of these asset sales is part of our 2012 strategy to grow our oil production and reserves through exploration and development of unconventional shale formations, while maximizing the value of our conventional oil and gas properties and protecting our balance sheet in this period of very weak natural gas prices," commented M. Jay Allison, Comstock's Chief Executive Officer.
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 an independent energy company based in Frisco, Texas and is engaged in oil and gas acquisitions, exploration and development primarily in Texas and Louisiana. The Company's stock is traded on the New York Stock Exchange under the symbol CRK.