COMSTOCK RESOURCES, INC. ANNOUNCES NEW BANK CREDIT FACILITY
Comstock Resources (NYSE: CRK) announced a new senior secured revolving credit facility extending its existing credit facility's maturity to November 15, 2027. The initial borrowing base is set at $2.0 billion, with an elected commitment of $1.5 billion. This five-year, reserve-based facility was arranged by Wells Fargo Securities and includes a syndicate of 17 participating banks. The company specializes in natural gas production, particularly in the Haynesville shale region of North Louisiana and East Texas.
- New senior secured revolving credit facility extends maturity to November 15, 2027.
- Initial borrowing base of $2.0 billion provides strong liquidity.
- Established commitment of $1.5 billion supports operational flexibility.
- None.
FRISCO, TX, Nov. 15, 2022 (GLOBE NEWSWIRE) -- Comstock Resources, Inc. ("Comstock" or the "Company") (NYSE: CRK) announced today that the Company has entered into a new senior secured revolving credit facility, which extends the maturity of Comstock's existing bank credit facility to November 15, 2027. The new credit facility has an initial borrowing base of
About Comstock Resources
Comstock Resources, Inc. is a leading independent natural gas producer with operations focused on the development of the Haynesville shale in North Louisiana and East Texas. The Company's stock is traded on the New York Stock Exchange under the symbol CRK.
This press release may contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein. Although the Company believes the expectations in such statements to be reasonable, there can be no assurance that such expectations will prove to be correct. Information concerning the assumptions, uncertainties and risks that may affect the actual results can be found in the Company's filings with the Securities and Exchange Commission ("SEC") available on the Company's website or the SEC's website at sec.gov.
