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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
AMENDMENT NO. 1
TO
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
DATE OF AMENDMENT: AUGUST 4, 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 July 31, 1995, Comstock Resources, Inc. together with its wholly
owned subsidiaries, (the "Company"), closed an acquisition of producing oil and
gas properties and natural gas gathering systems located in East Texas and
North Louisiana from Sonat Exploration Company, a wholly owned subsidiary of
Sonat Inc. ("Sonat") for total consideration of $50.6 million.
The Company acquired interests in 319 (188 net) oil and gas wells from
Sonat for $49.1 million. The Company will operate 245 of the wells acquired.
In addition, the Company acquired the managing general partner interest and a
20.31% limited partner interest in Crosstex Pipeline Partners, Ltd.
("Crosstex") as well as certain other gas gathering systems primarily located
in Harrison County, Texas from Sonat for $1.5 million. The Company will
operate 78 miles of gathering systems owned by Crosstex or acquired directly by
the Company.
Additionally, on July 31, 1995, the Company entered into a $110 million
credit facility with two commercial banks to provide a $100 million revolving
credit facility and to provide a one year term loan of $10 million. Amounts
outstanding under the revolving credit facility bear interest at the agent
bank's prime rate plus 1 1/2% and are subject to a borrowing base determined
semiannually by the banks. The borrowing base as of July 31, 1995 for the
revolving credit facility was $70,000,000 and reduces by $1,060,000 each month
beginning September 1, 1995. The revolving credit facility has a final
maturity of October 1, 1998. Amounts outstanding under the term loan bear
interest at the agent's prime rate plus 4% and are payable in full on July 31,
1996. As of August 4, 1995, the Company had $63,940,000 outstanding under the
revolving credit facility and $10 million outstanding under the term loan.
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.
99(b)* Press Release issued August 1, 1995.
99(c)* Credit Agreement dated as of July 31, 1995 between
Comstock Resources, Inc., Comstock Oil & Gas, Inc.,
Comstock Oil & Gas -- Louisiana, Inc., Comstock
Offshore Energy, Inc., the Banks and NBD Bank, as
Agent.
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* Filed herewith.
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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: August 4, 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
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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.
99(b)* Press Release issued August 1, 1995.
99(c)* Credit Agreement dated as of July 31, 1995
between Comstock Resources, Inc., Comstock Oil
& Gas, Inc., Comstock Oil & Gas -- Louisiana,
Inc., Comstock Offshore Energy, Inc., the
Banks and NBD Bank, as Agent.
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* Filed herewith.
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