Rogerthat12
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This should upgrade the safety position.
We like our guys..lol
This should upgrade the safety position.
Title or accuracy of article are terrible "The Cowboys owner is committing $475 million for 50 million new shares of Comstock stock to finance the deal, the newspaper reports, bringing Jones’ total investment in Comstock to $1.1 billion.". I am not a mathematician but that is not 2.2 billion.
Oil is still widely used and will be for a long time. IMO the day most of the world stops using oil is the day there is no more petroleum left to extract. Those big Oil and Gas companies have started investing in "cleaner engery" but will strive to make oil/gas used as long as possible here.
And let's be real, it'll take multiple decades for the USA to rid itself of internal combustion engines.
Chemicals, plastics,synthetic materials, asphalt, tars, waxes, all use petroleum in the production phase.
I doubt Stephens sons will see the day a drop of oil has no value in the US.
While that may be the case the headlines nor the article represent that.Comstock is Jerry’s company. He’s invested 1.1 billion in his own company. Comstock is buying another company for 2.2 billion. That purchase is being supported by money Jerry put into Comstock as well as financing and other third party investments.
So he's doubling down on oil and gas because that's a business with a bright future?
While that may be the case the headlines nor the article represent that.
Title "
Jerry Jones buys Dallas energy company for $2.2 billion"
Article "
Jerry Jones already has the world’s most valuable sports franchise. His oil and gas company now has become the leading producer in one of the nation’s largest natural gas basins.
Comstock Resources reached agreement on a $2.2 billion, cash-and-stock deal for Covey Park Energy, the Dallas Morning News reports. The Cowboys owner is committing $475 million for 50 million new shares of Comstock stock to finance the deal, the newspaper reports, bringing Jones’ total investment in Comstock to $1.1 billion.
Jones also is purchasing $175 million of stock that he can convert to common shares later.
Jones is the company’s biggest investor.
The Haynesville Shale in East Texas and northwest Louisiana is the third-largest natural gas producer in the U.S., according to the U.S. Energy Information Administration.
Comstock’s production, with Covey Park’s assets, will more than double, and it will gain more than 1,000 drilling locations, per the Morning News."
I agree it will take time, but wont the price drop when demand drops? - which is going to happen soon with the pace at which electric cars are improving. Within 5 years most new cars will be electric. Havent most western countries agreed to a ban on new ICE cars by c.2030?
I agree it will take time, but wont the price drop when demand drops? - which is going to happen soon with the pace at which electric cars are improving. Within 5 years most new cars will be electric. Havent most western countries agreed to a ban on new ICE cars by c.2030?
Sounds like Jerry's newest investment, Covey Park Energy, should be a pretty profitable deal. The $$$ just keep rolling in!
Hmm, pretty sure the LONG term future of the oil industry isn't a major obstacle to a man pushing a zillion years of age.
The Cowboys franchise makes over $1M a day.
Why would they sell?
Quit Lol'n, the "championship" thing and it will go away someday... hopefully,,, its been played out for like 15 yrs now... dangity
No. Stop watching the Maddox show and rejoin the real world. Americans don’t want limited range electric vehicles. We have enough energy reserves in our ground and off our coast to last 100s of years. Jerry will be long gone and will have recouped his investment several times before oil and natural gas stop being the life blood of our economy.