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Filing Details

Accession Number:: 0000899243-19-019768
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2019-07-17 16:13:27
Reporting Period:: 2019-07-16

Accepted Time:: 2019-07-17 16:13:27
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
23194	Comstock Resources Inc	CRK	Crude Petroleum & Natural Gas (1311)	941667468

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1750173	Arkoma Drilling, L.p.	One Cowboys Way Frisco TX 75034	No	No	Yes	No
1750178	W. Jerral Jones	One Cowboys Way Frisco TX 75034	No	No	Yes	No
1750240	Williston Drilling, L.p.	One Cowboys Way Frisco TX 75034	No	No	Yes	No
1750241	Blue Star Exploration Corp	One Cowboys Way Frisco TX 75034	No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2019-07-16	50,000,000	$6.00	138,571,429	No	4	P	Indirect	See Footnote

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	See Footnote

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Series B Redeemable Convertible Preferred Stock	Acquisiton	2019-07-16	175,000	$0.00	43,750,000	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
175,000	2020-07-16		No	4	P	Indirect

Footnotes

On July 16, 2019, Arkoma Drilling, L.P., a Texas limited partnership ("Arkoma"), and Williston Drilling, L.P., a Texas limited partnership ("Williston"), purchased, and Comstock Resources, Inc., a Nevada corporation (the "Company"), issued and sold to Arkoma and Williston in the aggregate: (i) 50,000,000 shares of common stock, $0.50 par value per share ("Common Stock"), of the Company for total consideration of $300 million and (ii) 175,000 shares of Preferred Stock newly designated as Series B Redeemable Convertible Preferred Stock ("Series B Preferred Stock") for total consideration of $175 million, pursuant to the closing of the transactions contemplated by that certain Subscription Agreement, dated June 7, 2019, by and among the Company, Arkoma and Williston, which was entered into in connection with that certain Agreement and Plan of Merger, dated June 7, 2019, among the Company, Covey Park Energy, LLC,
(continued from footnote 1) a Delaware limited liability company, New Covey Park Energy LLC, a Delaware limited liability company, and, solely for purposes of Section 5.14 thereof, Covey Park Energy Holdings LLC, a Delaware limited liability company.
Includes 104,521,077 shares of Common Stock held by Arkoma and 34,050,352 shares of Common Stock held by Williston. Blue Star Exploration Company, a Texas limited liability company ("Blue Star"), is the sole general partner of each of Arkoma and Williston. Jerral W. Jones is a director and sole shareholder of Blue Star. Each of the filing persons disclaims beneficial ownership of such shares except to the extent of his or its pecuniary interest therein.
Includes 132,003 shares of Series B Preferred Stock held by Arkoma and 42,997 shares of Series B Preferred Stock held by Williston. Blue Star is the sole general partner of each of Arkoma and Williston. Mr. Jones is a director and sole shareholder of Blue Star. Each of the filing persons disclaims beneficial ownership of such shares except to the extent of his or its pecuniary interest therein.
Each share of Series B Preferred Stock is convertible following July 16, 2020 into the number of shares of Common Stock equal to the quotient of (i) the sum of (A) the $1,000.00 per share plus (B) an amount equal to all accrued and unpaid dividends on such Series B Preferred stock to, and including, the date of conversion divided by (ii) $4.00 (unless otherwise adjusted pursuant to the terms of the Certificate of Designations of the Company, dated July 16, 2019). The Series B Preferred Stock have no expiration date.