Jerry Jones buys Dallas energy company for $2.2 billion

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Jerry Jones already has the world’s most valuable sports franchise. His oil and gas company now has become the leading producer in one of the nation’s largest natural gas basins.

Comstock Resources reached agreement on a $2.2 billion, cash-and-stock deal for Covey Park Energy, the Dallas Morning News reports. The Cowboys owner is committing $475 million for 50 million new shares of Comstock stock to finance the deal, the newspaper reports, bringing Jones’ total investment in Comstock to $1.1 billion.

Jones also is purchasing $175 million of stock that he can convert to common shares later.

Jones is the company’s biggest investor.

The Haynesville Shale in East Texas and northwest Louisiana is the third-largest natural gas producer in the U.S., according to the U.S. Energy Information Administration.

Comstock’s production, with Covey Park’s assets, will more than double, and it will gain more than 1,000 drilling locations, per the Morning News.

9 responses to “Jerry Jones buys Dallas energy company for $2.2 billion

  1. It’s still mindboggling to me that, despite all of Jones’ net worth, he’s still leagues behind David Tepper in personal value. The Cowboys of course are worth more than $4 billion on their own, and the Panthers much less, but Tepper’s sheer net worth makes even ridiculously rich guys like Jones look modest in comparison.

    Goes to show how much difference there is between the lives of these thirty-two and the rest of us.

  2. Scared money makes no money. Have to respect this guy’s aggressive business tactics. Those same tactics that has elevated the NFL in general. There’s a reason he’s in the HoF.

  3. Jones is about 7, and Tepper around 11 billion. You want to talk about being leagues behind someone? Jeff Bezos is 148.5 billion. Mic drop. He has enough money to buy every team in the NFL and still have 2 to 3x Tepper.

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