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3 Firms Shape $2.2B Deal For PE-Backed Oil, Gas Biz

Law360 (June 10, 2019, 2:20 PM EDT) -- Jerry Jones-backed Comstock Resources on Monday agreed to acquire private equity-owned oil and gas exploration company Covey Park Energy LLC for roughly $2.2 billion in a deal guided by Locke Lord, Vinson & Elkins, and Gibson Dunn.

The $2.2 billion price tag includes the assumption of Covey Park's outstanding debt, according to a statement. The cash-and-stock deal adds to Frisco, Texas-based Comstock's portfolio a Dallas-based peer with significant operations in the Haynesville Shale. Covey Park, backed by private equity firm Denham Capital, operates across 293,000 net Haynesville acres with about 2,000 net drilling locations. The company has the capability to produce...

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