It's Back-to-oil Time for Dallas Cowboys Owner Jerry Jones

Dallas Cowboys owner Jerry Jones is returning to his oil roots with a sizable investment in a Frisco company. Jerry Jones' Arkoma Drilling has agreed to invest $75 million in Comstock Resources, an oil and natural exploration and production company listed on the New York Stock Exchange. That would make the Jerry Jones company one of the largest shareholders of Comstock with a 14 percent ownership stake. "In 1999, I had the opportunity to make a similar investment in Comstock and I passed," Jones said in a statement Comstock filed with the U.S. Securities and Exchange Commission. "Had I made that investment, I could have made over $600 million in profits. Given a second opportunity to invest in Comstock's future, I decided not to miss it this time."   Continue reading...