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Dallas Cowboys Owner Seeks Shale Gas Deals in Haynesville

(Bloomberg) -- Dallas Cowboys billionaire owner Jerry Jones is exploring a series of takeovers to expand his Comstock Resources Inc. in the Haynesville, as drillers return to the previously shunned shale gas play.

Executives at Comstock have been open about their willingness to do deals after Jones bought an 84 percent stake earlier this year. The company recently expressed interest in buying private equity-backed Covey Park Energy LLC, two people familiar with the situation said. Conversations didn’t reach a material stage, said one of the people. Spokesmen for Comstock and Covey Park declined to comment on the potential deal. Jones wasn’t available for comment.

“It’s really a buyers’ market now,” Chief Financial Officer Roland Burns said on an Aug. 8 conference call. Comstock is looking “for smaller companies that really don’t have the resources to develop that acreage to join up with Comstock and put that under our umbrella.”

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