Comstock sells Bakken assets to Northern Oil & Gas for $154M cash; expects $130-140M pre-tax loss

COMSTOCK RESOURCES INC

Sale includes non-operated interests in 400+ wells (65.9 net) producing >4,500 boe/d (~65% oil).
Expected to close in Q4 2021 with effective date of October 1, 2021.
Pre-tax loss on divestiture estimated at $130-$140 million.
Proceeds will fund Haynesville development, including accelerating 13 DUC wells originally budgeted for 2022.
Company may also use proceeds for additional leasehold and drilling activity in 2022.

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