Dallas Cowboys owner Jerry Jones’ Comstock Resources on Thursday agreed to sell its assets in North Dakota’s Bakken basin to Northern Oil and Gas for $154 million, as it looks to shore up capital.
Oil and gas companies have been looking to sell assets to take advantage of a rise in commodity prices as well as bolster cash reserves on their balance sheets for dividends and buybacks to counter investor pressure.
Reuters reported last month that Northern was the front-runner to buy the stake.
Source: Reuters
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