As we all know Jerry Jones is one of the most esteemed business men of our time. From being the owner of “America’s Football Team” to his many other successful ventures, he has proven his business savvy time and time again.
On the morning of Tuesday April 3, 2018 an announcement was made that was nothing short of a Jerry Jones move. According to the Dallas Business Journal, it is said that Jerry Jones will be investing $75M into an oil and gas company’s drilling project.
The company is Comstock Resources and they are based in Frisco, Texas. Not many people are aware that Jones is the owner of an oil and gas drilling company by the name of Arkoma Drilling.
After missing an initial opportunity to invest into Comstock almost 20 years ago, Jones did not want to miss out on the opportunity once it came around again.
Arkoma and Comstock will be partnering in drilling projects spanning geographically from East Texas to Louisiana.
Comstock experienced financial trouble after the decline of the oil and gas market where their shares went from being over $140 down to as low as $3.50. In recent years the company has seen a slight upturn that may indicate a promising future for investors wanting to buy in at a low time in hopes of capitalizing greatly on their investment long term.
Jerry Jones has made his company, Arkoma Drilling, the largest shareholder in Comstock by buying in at a share price of $7.50.
Comstock has refinanced a majority of its debt and received almost $300M worth of credit from a span of internationally notable lenders ranging from the Bank of Montreal, Bank of America, Deutsche Bank and Regions Financial.
Economist are forecasting rising oil prices in the upcoming years, so this could potentially be a very lucrative partnership for Jones if the investment plan and drilling projects are executed efficiently and thoroughly all the way until the end of their completion date.