secwatch.observer — SEC 8-K summary
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Issuer:     COMSTOCK RESOURCES INC (CRK)
CIK:        0000023194
Form:       8-K
Filed at:   2021-10-07T23:59:59+00:00
Accession:  0000023194-21-000070
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.70
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/23194/000002319421000070/0000023194-21-000070-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/23194/000002319421000070/crk-20211007.htm
  HTML page:      https://secwatch.observer/filing/0000023194-21-000070

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