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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 16, 1995
COMSTOCK RESOURCES, INC.
(Exact name of registrant as specified in its charter)
NEVADA 0-16741 94-1667468
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification Number)
5005 LBJ FREEWAY, SUITE 1000, DALLAS, TEXAS 75244
(Address of principal executive offices)
(214) 701-2000
(Registrant's Telephone No.)
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On May 16, 1995, Comstock Resources, Inc. ("the Company") and
Sonat Exploration Company, a wholly owned subsidiary of Sonat Inc. ("Sonat"),
entered into a purchase and sale agreement under which Comstock will acquire
certain producing oil and gas properties and natural gas gathering systems
located in East Texas and North Louisiana for total consideration of $51.25
million. Closing of the acquisition is anticipated to occur on or about July
31, 1995 and is subject to certain governmental and other approvals including
Board of Directors' approval by the Company and Sonat Inc.
The Company is acquiring interests in 330 (180 net) oil and gas
wells for $49.75 million. The Company will operate 248 of these wells. The
properties are currently producing 50 million cubic feet of gas a day (20
million cubic feet, net) and 510 barrels of oil a day (233 barrels, net). The
Company estimates that the interests being acquired have proved oil and gas
reserves of approximately 102 billion cubic feet of natural gas and 848,000
barrels of oil as of March 1, 1995, the effective date of the acquisition. The
Company is also acquiring Sonat's interests in the Crosstex Pipeline System and
various other gathering systems primarily located in Harrison County, Texas for
$1.5 million.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
a. Financial Statements
It is impracticable to file the financial statements required
by item 7(a). Such financial statements will be filed by
amendment to this Report on Form 8-K as soon as practicable.
b. Pro Forma Financial Information
It is impracticable to file the pro forma financial
information required by Item 7(b). Such pro forma financial
information will be filed by amendment to this Report on Form 8-K
as soon as practicable.
c. Exhibits
2(a) Purchase and Sale Agreement between Comstock
Resources, Inc. and Sonat Exploration Company
dated May 16, 1995.
99 (a) Press Release issued May 17, 1995.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
COMSTOCK RESOURCES, INC.
Dated: May 19, 1995 By: /s/ ROLAND O. BURNS
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ROLAND O. BURNS
Senior Vice President, Chief Financial
Officer, Secretary, and Treasurer
(Principal Financial and Accounting
Officer)
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EXHIBIT INDEX
Exhibit Number Description Page
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2 (a) Purchase and Sale Agreement between the
Comstock Resources, Inc. and Sonat Exploration
Company dated May 16, 1995.
99(a) Press Release issued May 17, 1995.