November 15, 2018 – InstaNext, a premier provider of cloud-hosted commodity trading and risk management solutions, announced today that Comstock Resources has signed on as InstaNext’s newest E&P customer. Headquartered in Frisco, Texas, Comstock Resources (NYSE: CRK) is engaged in the acquisition, development, production and exploration of oil and natural gas with operations concentrated in Texas and Louisiana. The company has over 800 drilling locations on its Haynesville/Bossier shale acreage, where it estimates to have over 10 Tcf of reserve potential. On August 1, Comstock announced its acquisition of North Louisiana properties from Enduro Resources Partners, which consists of approximately 21,000 gross acres in Louisiana and includes 120 producing natural gas wells. On August 14, Comstock closed an agreement with Jerry Jones, Dallas businessman and owner of the Dallas Cowboys Football Club Ltd., under which he contributed oil and gas properties in North Dakota in exchange for common stock in the company. This contribution provides Comstock with substantial cash flow to invest in its high return Haynesville shale drilling program and the capital to further grow its drilling prospect inventory through acquisitions of new leases and producing properties. Comstock has selected the InstaNext platform to manage its new options book… continue reading
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Source: CTRM Center