Dallas Cowboys owner Jerry Jones’ company buying energy firm

| June 17, 2019 | LOCAL, NATIONAL, NEWS, SPORTS | No Comments
Facebooklinkedin
Dallas Cowboys owner Jerry Jones arrives for a news conference at the sight of the team’s new headquarters Tuesday, Aug. 13, 2013, in Frisco, Texas. Frisco officials overwhelming approved a $115 million deal to build team headquarters and a practice facility in the Dallas suburb. The agreement will end the Cowboys’ four-decade relationship with Irving, most likely in 2016. (AP Photo/LM Otero)

FRISCO, Texas (AP) — An oil and gas company controlled by Dallas Cowboys owner Jerry Jones has reached an agreement to buy Covey Park Energy in a $2.2 billion cash and stock deal.

Frisco-based Comstock and Covey Park, with headquarters in Dallas, announced the agreement on Monday.

A statement from both companies says Jones will provide $475 million as part of the acquisition, bringing his total investment in Comstock to $1.1 billion. Jones remains the largest shareholder with 75% ownership.

Comstock, according to its website, has focused on acquisition, development, production and exploration of oil and gas properties mainly in Texas, Louisiana and North Dakota. Covey Park operates mainly in northern Louisiana and East Texas.