April 2, 2018 / 11:41 AM / 8 months ago

BRIEF-Comstock Resources Says On March 29, Co Entered Into A Securities Purchase Agreement With Arkoma Drilling

April 2 (Reuters) - Comstock Resources Inc:

* SEC FILING

* WILL ISSUE & SELL TO ARKOMA 10 MILLION SHARES OF CO’S COMMON STOCK, $0.50 PAR VALUE/SHARE AT PRICE OF $7.50/SHARE

* PURSUANT TO TERMS OF SECURITIES PURCHASE AGREEMENT, CO TO ENTER INTO STRATEGIC DRILLING VENTURE DEAL WITH ARKOMA

* TO GIVE DRILLING OPPORTUNITIES IN HAYNESVILLE, EAGLE FORD SHALE TO ARKOMA OF AT LEAST $75 MILLION DURING FIRST 12 MONTHS OF VENTURE

* TO PRESENT DRILLING OPPORTUNITIES TO ARKOMA OF AT LEAST $100 MILLION DURING SECOND YEAR OF VENTURE

* ON MARCH 29 UNIT ENTERED INTO PURCHASE AND SALE AGREEMENT WITH USG PROPERTIES AUSTIN CHALK I, LLC

* UNIT WOULD SELL TO USG CERTAIN OIL AND GAS LEASES AND ASSOCIATED ASSETS FOR A TOTAL PURCHASE PRICE OF $125 MILLION Source text: (bit.ly/2pWGoRo) Further company coverage:

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