Rosetta spends $768M to acquire Comstock Texas assets

03/17/2013 | Bloomberg

Rosetta Resources will spend about $768 million to acquire 53,306 net acres in West Texas from Comstock Resources. The assets could hold about 145 million barrels of oil equivalent and currently produce approximately 3,300 barrels a day, Rosetta said. "This transaction provides entry into the prolific Permian Basin with both existing production and strong growth potential in proven delineated areas as well as prospective exploration targets on undeveloped acreage," said Jim Craddock, chairman and CEO of Rosetta.

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