XML 23 R11.htm IDEA: XBRL DOCUMENT v3.8.0.1

Subsequent Events	3 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	(5) SUBSEQUENT EVENTS – On April 25, 2018, the Company entered into a strategic drilling venture with Arkoma Drilling, L.P. ("Arkoma") wherein Arkoma will participate in drilling projects proposed by Comstock in the Haynesville and Bossier shale in East Texas and North Louisiana and the Eagle Ford shale in South Texas.  Comstock receives a 20% carried interest for projects that Arkoma participates in and Arkoma will only earn an interest in the well bore for projects it participates in and will not have rights to any related acreage.  The new venture has a two-year term.  Comstock will offer a minimum of $75.0 million in opportunities in the first twelve months and $100.0 million in the second twelve months.  The first six projects under the new venture represent a $34.0 million investment by Arkoma.   On May 9, 2018, Arkoma and Williston Drilling, L.P. ("Williston") entered into an agreement with the Company to contribute certain oil and gas properties in North Dakota with an estimated fair value of approximately $620.0 million in exchange for approximately 88.6 million newly issued shares of the Company's common stock. The effective date of the acquisition of the properties is April 1, 2018. Comstock estimated that the properties have proved reserves of 22.5 million barrels of oil and 48.5 Bcf of natural gas on the effective date.  Upon completion of the transaction, Arkoma and Williston will collectively own approximately 84% of the Company's pro forma outstanding shares.    The transaction is subject to a number of closing conditions, including the approval of the issuance of the common stock by the Company's stockholders and satisfaction of certain closing conditions.  The Company expects to refinance all of its existing debt in connection with completing the transaction. In the event that this transaction is not completed, the Company will seek other alternatives to refinance its existing debt.

X

- References

No definition available.

+ Details

Name:	us-gaap_SubsequentEventsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 855
-URI http://asc.fasb.org/topic&trid=2122774

+ Details

Name:	us-gaap_SubsequentEventsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration