Comstock to repay revolver with stock proceeds, use loan for acquisition

By Sara Rosenberg

New York, March 28 - Comstock Resources Inc. plans to repay some of its outstanding revolving credit facility using proceeds from a proposed $125 million common stock offering, according to a company news release.

After that, the company plans to use borrowings under its credit facility and proceeds from the previously announced refinancing of the debt owed to Comstock by Bois d'Arc Energy LLC to fund the purchase of some oil and gas properties and related assets from EnSight Energy Partners LP for $192.5 million.

Comstock is a Frisco, Texas-based independent energy company.

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