Dallas Cowboys proprietor Jerry Jones is injecting some other $100 million into the Frisco-based herbal fuel corporate he controls.Comstock Assets Inc. mentioned after buying and selling markets closed Wednesday that Jones is obtaining 12.5 million stocks of the corporate’s inventory at $8.036 a percentage. The inventory closed at $8.07 on Wednesday. His acquire worth represented the common remaining costs for the ultimate 5 buying and selling days.His funding of $100.45 million boosts his possession stake to 67% of the corporate.Comstock mentioned it is going to use the cash to pay down financial institution debt in part incurred when it bought 200,000 undeveloped acres within the Western Haynesville shale play for $58.7 million.Jones, whose internet price is estimated at $13.7 billion, purchased a majority stake in Comstock in 2018 when he swapped $620 million in oil-producing homes for a majority stake within the NYSE-listed corporate. He post an extra $475 million the next yr when Comstock purchased rival Covey Park Power in a $2.2 billion deal.The Haynesville Shale in East Texas and northwest Louisiana is the third-largest herbal fuel manufacturer within the U.S., in step with the U.S. Power Data Management. Weakened herbal fuel costs weighed closely at the corporate’s monetary effects for the ultimate 3 months of 2023. Herbal fuel traded as prime as $3.57 in October earlier than falling to $1.70 on Wednesday.Comstock’s quarterly gross sales took a success, losing to $354 million as opposed to just about $558 million for a similar duration a yr previous. The corporate closed out 2023 with $1.56 billion in income, down from $3.6 billion in 2022. Earnings totaled about $212 million.
