News: PFT: Jerry Jones buys Dallas energy company for $2.2 billion

Falco78

Well-Known Member
Messages
1,238
Reaction score
1,085
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.
 

Sydla

Well-Known Member
Messages
59,687
Reaction score
91,134
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.

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.
 

csirl

Well-Known Member
Messages
3,692
Reaction score
3,987
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.

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?
 

Falco78

Well-Known Member
Messages
1,238
Reaction score
1,085
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.
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."
 

Pompey-Cowboy

Well-Known Member
Messages
1,944
Reaction score
3,504
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.
 

Sydla

Well-Known Member
Messages
59,687
Reaction score
91,134
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."

The headline and article are accurate.

Jerry has invested 1.1B into Comstock.

Comstock is buying another company for 2.2B (not with Jerry’s money solely).

I am not sure what’s confusing here.
 

John813

Well-Known Member
Messages
22,102
Reaction score
33,854
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 think price will drop, but it also depends on OPEC and other nations on limiting supply to artificially raise prices.
Most cars may be electric, but it doesn't mean people will simply switch over ASAP.
IMO infrastructure needs more work, and battery recharge times need to be improved before electric becomes a solid dent in the US. While on a day to day use, electric cars will be fine for DD, longer trips in some areas could be iffy due to the lack of charging stations.

And other countries like China, India and others will still use petro as long as it is more cost effective.

Europe may be the trendsetter, but I don't think the majority of the world will be so quick to follow.

I think with companies like Ford investing in Rivian and the bigger manufacturers getting involved will eventually drop the prices of electric cars.
 

Cowboys22

Well-Known Member
Messages
10,507
Reaction score
11,384
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?

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.
 

jazzcat22

Staff member
Messages
77,206
Reaction score
95,764
CowboysZone ULTIMATE Fan
Sounds like Jerry's newest investment, Covey Park Energy, should be a pretty profitable deal. The $$$ just keep rolling in!

Comstock Resources, Jerry's company is going for $5.09 per share, up almost $1 in the past 2 days.
I think I may buy some and hold onto it. Won't invest a lot though for now.
Ticker symbol is CRK, even though it looks like it has been dipping the last few months. The charts looks like it could go up if based on the last 4 days.
But what in the heck do I know. It is just my thoughts.
 

glimmerman

Well-Known Member
Messages
29,952
Reaction score
29,839
JJ, just put your money in the bank. First a huge yacht and now a energy company.
 

csirl

Well-Known Member
Messages
3,692
Reaction score
3,987
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.

This is what people used to say about cell phones....limited battery life, having to recharge etc.

I think we've hit the tipping point re electric cars. From mid 90s to mid 00s, mobile phones went from limited battery life/not as good as landline to smart phones. Electric cars are in a similar stage of rapid evolution.

In a few years time, why would anyone buy an ICE car when electric will have a longer range, cheaper, more additional technology (smart cars), more convenient - no need to visit gas stations, greater range of models, more powerful.

Im not a fan of electric vehicles, but I can see the manufacturers are going to stop producing ICE cars very soon - they've already abandoned developing a new generation of ICE models.

As for the taxes.....if they're already talking about taxing methane from cows grazing, ICE will be taxed out of existance.
 

cern

Well-Known Member
Messages
14,900
Reaction score
21,050
I've been telling you there's a reason jerry's giving more and more control to Stephen. firstly, he trusts Stephen's vision for the cowboys future, and secondly because the sly fox can still seal the deal.
 

cern

Well-Known Member
Messages
14,900
Reaction score
21,050
food, water, and energy are the biggest commodities out there. try living without them. you have to eat and drink. and if you like your air conditioning and heat, well i'm sure you can figure it out.
 
Top