Jones Group Amends Comstock Resources Stake Filing

Ticker: CRK · Form: SC 13D/A · Filed: Aug 12, 2024 · CIK: 23194

Sentiment: neutral

Topics: ownership-change, sec-filing, shareholder-activity

Related Tickers: CRK

TL;DR

Jerral Jones group updated their Comstock Resources filing. Keep an eye on this one.

AI Summary

On August 12, 2024, Jerral W. Jones and affiliated entities, including Arkoma Drilling, L.P., filed an amendment to their Schedule 13D. They reported a change in beneficial ownership of Comstock Resources, Inc. common stock, though the specific percentage or number of shares changed was not detailed in this excerpt. The filing indicates ongoing activity and potential strategic adjustments by a significant shareholder.

Why It Matters

This filing signals potential shifts in control or strategy for Comstock Resources, Inc. by a major shareholder, which could impact the company's stock price and future operations.

Risk Assessment

Risk Level: medium — Schedule 13D/A filings often indicate significant shareholder activity that can lead to volatility or strategic changes in a company.

Key Players & Entities

FAQ

What specific change in beneficial ownership is reported in this amendment?

The filing indicates a change in beneficial ownership but does not specify the exact percentage or number of shares in the provided excerpt.

Which entities are listed as group members in this filing?

The group members listed are Arkoma Drilling, L.P., Blue Star Exploration Co, JWJ BES, LLC, and Williston Drilling, L.P.

What is the subject company's CUSIP number?

The CUSIP number for Comstock Resources, Inc. is 205768302.

Who is listed as the primary contact for the filing at the One Cowboys Way address?

Thomas L. Walker is listed as a contact person at One Cowboys Way, Suite 100, Frisco, Texas 75034.

What is the business address and phone number for Comstock Resources, Inc.?

The business address is 5300 Town and Country Blvd, Ste 500, Frisco, TX 75034, and the phone number is 972-668-8800.

Filing Stats: 2,497 words · 10 min read · ~8 pages · Grade level 8.6 · Accepted 2024-08-12 18:35:41

Key Financial Figures

Filing Documents

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration. The Reporting Persons used cash to make the purchases of Common Stock listed in the table presented in Item 5(c) below.

Purpose of Transaction

Item 4. Purpose of Transaction.

of this Schedule 13D is hereby supplemented as follows

Item 4 of this Schedule 13D is hereby supplemented as follows: The Reporting Persons file this Amendment No. 5 following a 1.7% increase in the percentage of the class beneficially owned. Between August 5 and August 12, 2024, JWJ BES purchased 5,110,370 shares of Common Stock at the purchase prices set forth in the table presented in Item 5(c) below.

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer. Items 5(a), (b), (c), (d) and (e) of the Schedule 13D are hereby amended and restated in their entirety as follows: (a) The information set forth on rows 11 and 13 of the cover pages of this Schedule 13D is incorporated by reference. The percentage is calculated based upon 292,260,645 outstanding shares of Common Stock, as disclosed in Comstock Resources, Inc.’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2024. (b) The information set forth in rows 7 through 10 of the cover pages to this Schedule 13D is incorporated by reference. (c) The table below sets forth the purchases of Common Stock in the open market effected by JWJ BES during the past 60 days. Date Number of Shares Purchased Average Price per Share August 5, 2024 825,000 $8.1643 August 6, 2024 825,868 $8.494 August 7, 2024 825,868 $8.8165 August 8, 2024 825,868 $9.4186 August 9, 2024 825,868 $9.7612 August 12, 2024 981,898 $10.1322 (d) No person (other than the Reporting Persons) is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of Common Stock subject to this Schedule 13D. (e) Not applicable. SCHEDULE 13D CUSIP No. 205768302 Page 8 of 9

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: August 12, 2024 ARKOMA DRILLING, L.P. By: Blue Star Exploration Company, its general partner By: /s/ Thomas L. Walker Name: Thomas L. Walker Title: Treasurer WILLISTON DRILLING, L.P. By: Blue Star Exploration Company, its general partner By: Thomas L. Walker Name: Thomas L. Walker Title: Treasurer JWJ BES, LLC By: Blue Star Exploration Company, its managing member By: Thomas L. Walker Name: Thomas L. Walker Title: Treasurer BLUE STAR EXPLORATION COMPANY By: Jerral W. Jones its Sole Shareholder By: /s/ Jerral W. Jones Jerral W. Jones By: /s/ Jerral W. Jones Jerral W. Jones SCHEDULE 13D CUSIP No. 205768302 Page 9 of 9 JOINT FILING AGREEMENT PURSUANT TO RULE 13d-1(k) The undersigned acknowledge and agree that the foregoing statement on Schedule 13D is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13D may be filed on behalf of each of the undersigned without the necessity of filing additional joint filing agreements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained herein or therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate. Date: August 12, 2024 ARKOMA DRILLING, L.P. By: Blue Star Exploration Company, its general partner By: /s/ Thomas L. Walker Name: Thomas L. Walker Title: Treasurer WILLISTON DRILLING, L.P. By: Blue Star Exploration Company, its general partner By: Thomas L. Walker Name: Thomas L. Walker Title: Treasurer

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