Texas freeze allows Jerry Jones’ natural gas company to “hit jackpot”

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As many as 4 million Texans have had no power during the historic winter weather experienced by the state this week. As of Wednesday night, 7 million in the state had water issues with either boil notices or no water at all.

Fingers are pointing. Pipes are bursting. Homes are flooding. Grocery store shelves are emptying. Gas pumps are drying. Nerves are fraying.

The Insurance Council of Texas said insurers are expecting the winter storm of 2021 to become the costliest weather event in the history of the state, topping Hurricane Harvey.

So how, you ask, does this relate to pro football? Glad you asked.

Cowboys owner Jerry Jones owns a Frisco-based natural gas producer that is cashing in on a surge in prices for the fuel, Bloomberg reports.

The billionaire owns Comstock Resources Inc., which has sold gas from its Haynesville Shale wells in East Texas and northern Louisiana at premium prices the past week. Demand has led to gas prices at some regional hubs to soar past $1,000 per million British thermal units, according to Bloomberg.

“This week is like hitting the jackpot with some of these incredible prices,” Chief Financial Officer Roland Burns said on an earnings call Wednesday, via Bloomberg. “Frankly, we were able to sell at super premium prices for a material amount of production.”

That seems good news for Jones, who, two years ago, had a total investment of $1.1 billion in Comstock. His oil and gas company has become the leading producer in one of the nation’s largest natural gas basins.

Jones would make many in the state happy by using some of that money to sign quarterback Dak Prescott to a long-term deal sooner than later. He would even have enough money left over to upgrade to a better bottle of celebratory wine at Target.

37 responses to “Texas freeze allows Jerry Jones’ natural gas company to “hit jackpot”

  1. People are dying, people are freezing, people are starving, but that’s all fine because Jerry Jones is hitting the jackpot.

  2. It doesn’t work that way. Jerry can’t pay Dak out of his pocket, he is limited by the teams cap. Jerry should sign Dak to a long term deal. The hold up is Dak only wants 3 years, while Jerry wants 4.
    ———————-
    Jones would make many in the state happy by using some of that money to sign quarterback Dak Prescott to a long-term deal sooner than later.

  3. Jones would make many in the state happy by using some of that money to sign quarterback Dak Prescott to a long-term deal sooner than later. He would even have enough money left over to upgrade to a better bottle of celebratory wine at Target.

    _________________________________________________________

    Well, the salary cap is still the salary cap. Just saying

  4. I understand that it’s the CFO’s job to make profit, but gloating about making money off a natural disaster while people are suffering isn’t a good look.

  5. When it comes to wines, more expensive doesn’t always necessarily mean better. Lest we forget

  6. Jerry is making bank as people’s homes are flooding & freezing. Well, actually he’s profiting BECAUSE people’s homes are flooding & freezing.
    It’s not his fault, but there’s no reason not to be able to pay Dak under the table.

  7. can’t stand the cowboys and jones has been a 20+ yr clown act as gm. that said, he made the investment in gas which is now in short supply so he’s making more money. what’s the problem? I’d be thankful someone put up the money to increase gas production an heat my house.

  8. Or … the elderly owner of the Cowboys could assist the citizens of his state by not only not taking advantage of the situation, but by using some of his huge wealth to lend a helping hand to those less fortunate. After all Jerry – ya can’t take it with you.

  9. “This week is like hitting the jackpot with some of these incredible prices,” Chief Financial Officer Roland Burns said on an earnings call Wednesday, via Bloomberg. “Frankly, we were able to sell at super premium prices for a material amount of production.”

    What a pile of garbage Burns seems like. “This week, while all these Texans are suffering, our billion dollar company was able to sell our product(s) at an even higher price, cashing in on their suffering! JACKPOT!!!”

  10. I’m wondering if Jerry Jones will invest any money in upgrading and winterizing his gas company’s infrastructure? So far the gas industry in Texas has played making infrastructure improvements like signing Dak Prescott, and the result hasn’t been good.

  11. Yay for profiting off the suffering of people in your home state. How about NOT PRICE GOUGING THOSE IN NEED? Why do we allow and almost celebrate this? People who need fuel and can’t afford it will truly suffer, while Jerry and his ilk take advantage. It’s sick.

  12. Texas freeze allows Jerry Jones’ natural gas company to “hit jackpot”
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    WOW, Jerry isn’t the first investor to figure out you play energy stocks in the fall of the year!

    That’s elementry!

  13. This is why one guy can make 50 others millionaires. Guess folks should’ve invested in Comstock instead of GameStop hahahaha.

  14. Good for him – supply and demand. Bsics principles at play here. Or are we supposed to be mad at him for being a successful businessman? I, for one and not a rich man, but I congratulate him on his successes. He worked hard to get where he is at.

  15. And as long as big energy continues taking in massive profits on non-renewables we will never get off this garbage and into a sustainable future.

  16. bengal4573 says: “Nothing like preying on the poor and middle class during a crisis. God Bless Murica”
    ——————-

    The ONLY reason there is a crisis is because those “poor and middle class” Texans CHOSE not to be part of the national power grid. Texas wanted to be independent from federal energy regulations by setting up their own ERCOT power grid.

    Well, you have your “independence” and this is the DIRECT consequence. The other lower 47 states all share their energy and this wouldn’t have happened.

  17. Even without the weather energy prices are going to go up for all of us…you can’t cut off production & pipelines and expect them to go down.

  18. Most of you chastising Jerry Jones for massively profiting off this disaster will continue to vote for people who support deregulation. There is a direct causal link between lack of appropriate regulation and this kind of profiteering.

  19. That’s not being a good business man. That is price gouging. According to the ERCOT website (they manage the electricity in Texas), the price of energy in Texas went from under $40 to over $9000.

    Thanks, Jerry

  20. 50Stars says:
    February 18, 2021 at 9:17 am

    Good for him – supply and demand. Bsics principles at play here. Or are we supposed to be mad at him for being a successful businessman? I, for one and not a rich man, but I congratulate him on his successes. He worked hard to get where he is at.
    ________________________________________________________________________

    Great! Maybe you can volunteer to drive him and Ted Cruz to Airport for their next trip to Cancun. No one here is arguing that he doesn’t deserve the profits, but price gouging and glaoting during a disaster is consdered uncool anytime.

  21. Arnoldziffel: So could the owners of the Stars, Mavericks, Rockets, Astros, etc…Hypocrite much!

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