Comstock resources, inc. announces the divestiture of bakken shale assets

Frisco, tx, oct. 07, 2021 (globe newswire) -- comstock resources, inc. ("comstock" or the "company") (nyse: crk) announced today that it has entered into an asset purchase agreement with northern oil & gas, inc. ("nog") to sell its assets in the bakken shale for $154 million in cash, subject to adjustment and customary closing conditions. the properties being sold include non-operated interests in over 400 producing wells (65.9 net) with recent production of greater than 4,500 net barrels of oil equivalent per day (approximately 65% oil). the sale is expected to close in the fourth quarter and will have an effective date of october 1, 2021. comstock expects to recognize a pre-tax loss of $130-$140 million on the divestiture. energynet is acting as exclusive advisor to comstock on the sale.
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