Comstock Resources announces sale of West Texas properties to Rosetta Resources Comstock Resources (CRK) announced that it has entered into a definitive agreement with Rosetta Resources (ROSE) pursuant to which Rosetta will acquire all of Comstock's oil and gas properties in Reeves and Gaines counties in West Texas for a sales price of $768M, subject to customary purchase price adjustments and closing conditions. The sale will have an effective date of January 1 and is expected to close on or about May 15. The company intends to use the proceeds from the sale to reduce its outstanding debt and to fund an increase to its 2013 drilling program in the Eagle Ford shale.
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