Jones Entities Amend Comstock Resources Stake

Ticker: CRK · Form: SC 13D/A · Filed: Aug 22, 2024 · CIK: 23194

Sentiment: neutral

Topics: ownership-change, sec-filing, schedule-13d

Related Tickers: CRK

TL;DR

Jerral Jones's group updated their Comstock Resources filing, watch for ownership changes.

AI Summary

On August 22, 2024, Jerral W. Jones and affiliated entities, including Arkoma Drilling, L.P., Blue Star Exploration Co., JWJ BES, LLC, and Williston Drilling, L.P., filed an amendment to their Schedule 13D concerning Comstock Resources, Inc. The filing indicates a change in beneficial ownership, though specific new holdings or dollar amounts are not detailed in this excerpt.

Why It Matters

This filing signals potential shifts in control or significant investment activity by a major shareholder in Comstock Resources, Inc., which could impact the company's stock price and strategic direction.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings often indicate significant changes in a major shareholder's stake, which can lead to increased volatility and potential strategic shifts for the company.

Key Players & Entities

FAQ

What specific changes in beneficial ownership are detailed in this amendment?

This excerpt does not specify the exact changes in beneficial ownership, only that an amendment to Schedule 13D/A was filed on August 22, 2024.

Who are the primary filing parties for this Schedule 13D/A amendment?

The primary filing parties are Jerral W. Jones and his affiliated entities: Arkoma Drilling, L.P., Blue Star Exploration Co., JWJ BES, LLC, and Williston Drilling, L.P.

What is the CUSIP number for Comstock Resources, Inc. common stock?

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

When was this amendment filed with the SEC?

This amendment was filed on August 22, 2024.

What is the business address of Comstock Resources, Inc.?

The business address of Comstock Resources, Inc. is 5300 Town and Country Blvd, Ste 500, Frisco, TX 75034.

Filing Stats: 2,582 words · 10 min read · ~9 pages · Grade level 8.2 · Accepted 2024-08-22 18:20:33

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. 7 following a 1.3% increase in the percentage of the class beneficially owned. Between August 16 and August 22, 2024, JWJ BES purchased 3,706,053 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 August 13, 2024 981,898 $10.1359 August 14, 2024 981,898 $10.5834 August 15, 2024 981,898 $10.5567 August 16, 2024 573,453 $10.6395 August 20, 2024 1,044,200 $10.9261 August 21, 2024 1,044,200 $11.0952 August 22, 2024 1,044,200 $10.9612 (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 22, 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 22, 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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