Printer Friendly

COMSTOCK ANNOUNCES FORMATION OF $15 MILLION DEVELOPMENT VENTURE AGREEMENT WITH LIBERTY LIFE INSURANCE COMPANY

 COMSTOCK ANNOUNCES FORMATION OF $15 MILLION DEVELOPMENT VENTURE
 AGREEMENT WITH LIBERTY LIFE INSURANCE COMPANY
 DALLAS, April 10 /PRNewswire/ -- Comstock Resources, Inc. (NASDAQ-NMS: CMRE) today announced the execution of a letter agreement for the 1992 Oil and Gas Development Venture with Liberty Life Insurance Company ("Liberty") of Greenville, S.C. Liberty has committed to fund during each of the 12 months periods ending March 31, 1993, 1994 and 1995, up to $5 million. The venture will continue to develop certain of Comstock's acreage in the Texas Panhandle Field, as well as new prospects to be acquired by the venture.
 "We are extremely pleased that Liberty has again elected to participate with Comstock in a development drilling venture. The initial results of the 1991 Oil and Gas Development Joint Venture with Liberty are very encouraging since production rates, particularly oil production in the Texas Panhandle Field, has exceeded our projected rates as announced in the March 26, 1992 press release. This $15 million commitment allows both Comstock and Liberty to continue to develop Comstock's 92,000 acres in the Texas Panhandle Field, as well as acquire new prospects," said M. Jay Allison, president and chief executive officer of Comstock.
 Comstock Resources, Inc. is primarily engaged in the acquisition, development and production of oil and gas in the Southwestern United States. Liberty Life Insurance Company is among the largest 5 percent of stock life insurance companies in the nation.
 -0- 4/10/92
 /CONTACT: M. Jay Allison, president and chief executive officer of Comstock Resources, 214-701-2100/
 (CMRE) CO: Comstock Resources Inc. ST: Texas IN: OIL SU: JVN


TS -- NY039 -- 7236 04/10/92 12:33 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 10, 1992
Words:273
Previous Article:PIONEER HI-BRED REPORTS RESULTS
Next Article:ALASKA AIRLINES HAILS FARE SIMPLIFICATION


Related Articles
COMSTOCK ANNOUNCES AGREEMENT TO ACQUIRE OIL & GAS PROPERTIES FROM LIBERTY LIFE INSURANCE
COMSTOCK ANNOUNCES AGREEMENT TO ACQUIRE OIL & GAS PROPERTIES FROM LIBERTY LIFE INSURANCE
COMSTOCK RESOURCES CLOSES ACQUISITION OF OIL & GAS PROPERTY
COMSTOCK RESOURCES, INC. ANNOUNCES PLACEMENT OF $6 MILLION PREFERRED STOCK ISSUE
NELSON TRADE & FINANCE LTD. ANNOUNCES RESULTS FOR YEAR ENDED DEC. 31, 1993, AND FIRST QUARTER ENDED MARCH 31, 1994
COMSTOCK RESOURCES, INC. ANNOUNCES $15 MILLION PREFERRED STOCK ISSUE
COMSTOCK RESOURCES, INC. CLOSES $15 MILLION PREFERRED STOCK ISSUE
COMSTOCK RESOURCES, INC. EXECUTES PURCHASE AND SALE AGREEMENT FOR BLACK STONE ACQUISITION
COMSTOCK RESOURCES, INC. EXECUTES ADDITIONAL PURCHASE AND SALE AGREEMENTS FOR BLACK STONE ACQUISITION
Comstock Resources, Inc. Announces Results Of 1996 Drilling Program and 1997 Drilling Budget

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters