Jerry Jones has already become the world's most valuable sports franchise.
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 reporting $ 475 million for Comstock's stock to finance the deal, bringing Jones' total investment in Comstock to $ 1.1 billion.
Jones is thus purchasing $ 175 million of stock that he can convert
Jones is the company's largest investor.
The Haynesville Shale in East Texas and northwest Louisiana is the third-largest natural gas producer in the US, according to the US Energy Information Administration.
Comstock's production, with Covey Park's assets, wants more than double, and it wants to gain more than 1,000 drilling locations, per the Morning News .