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): December 8, 2000
COMSTOCK RESOURCES, INC.
(Exact name of registrant as specified in its charter)
STATE OF NEVADA 000-16741 94-1667468
(State or other (Commission of File Number) (I.R.S. Employer
jurisdiction incorporation) Identification Number)
5300 Town And Country Boulevard
Suite 500
Frisco, Texas 75034
(Address of principal executive offices)
(972) 668-8800
(Registrant's Telephone No.)
Item 5. Other Events
The Board of Directors of Comstock Resources, Inc. (the "Company") has approved
a stock repurchase plan providing for the purchase of shares of the Company's
common stock in the open market, with an aggregate purchase price of up to $10
million.
The timing and amount of shares purchased will depend on prevailing share market
prices and trading volume. Shares that are acquired through the repurchase plan
will be canceled.
Item 7. Financial Statements and Exhibits
(c) Exhibits
99.1 Press Release, dated December 11, 2000.
2
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: December 19, 2000 By: /s/ M. Jay Allison
---------------------------------------
M. Jay Allison
President and Chief Executive Officer
EXHIBIT INDEX
Item
Number Description
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99.1 Press Release, dated December 11, 2000.
3
COMSTOCK RESOURCES, INC. 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. ANNOUNCES
COMMON STOCK REPURCHASE PLAN
FRISCO, TEXAS, December 11, 2000 - Comstock Resources, Inc. (NYSE:CRK), today
announced that its board of directors has authorized a stock repurchase plan
providing for the purchase of shares of its common stock in the open market,
with an aggregate purchase price of up to $10 million.
The timing and amount of shares purchased will depend on prevailing share market
prices and trading volume. Shares that are acquired through the repurchase plan
will be canceled.
"We believe that repurchasing our shares from time to time represents a good
investment opportunity for the Company," said M. Jay Allison, President and
Chief Executive Officer. "The share repurchase plan that we are announcing today
should enhance shareholder value over the long term and boost earnings-per-share
by the reduction in outstanding shares resulting from the repurchase."
This press release contains 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 its outlook is
based upon reasonable assumptions regarding the economy, its knowledge of its
business, and on key performance indicators which impact the Company, there can
be no assurance that the Company's goals will be realized. In particular, there
can be no assurance as to the timing and amount of shares purchased through the
stock repurchase plan, or the impact of such plan.
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 Texas, Louisiana and the Gulf of Mexico. The company's
stock is traded on the New York Stock Exchange under the symbol CRK.