Jerry Jones Bets Over $1 Billion On Comstock Resources For Texas Gas Push, Eyes $100 Billion Bounty

Dallas Cowboys owner Jerry Jones has poured over $1 billion into natural gas driller Comstock Resources Inc. (NYSE:CRK), backing a high-stakes bid to conquer what The Wall Street Journal calls a “drilling inferno” in rural East Texas.

Check out CRK’s stock price here.

Jones Targets $100B Gas Prize in Risky Texas Drilling Play

Jones, 83, believes the gamble will pay off, telling the WSJ he sees a potential “$100 billion present value with gas out there.”

The investment, which has given Jones a 71% stake in Comstock, funds an aggressive exploration campaign in a region the company refers to as the Western Haynesville.

The geology there is notoriously “hellish,” according to the WSJ, with wells reaching depths of 19,000 feet, facing temperatures exceeding 400 degrees Fahrenheit, and enduring pressures as high as those found in the Mariana Trench. Other companies previously abandoned the area as un-drillable.

Benzinga has reached out to Jones for comment on the valuation, but did not immediately receive a response.

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Jones Touts Drilling Texas Gas Field As ‘Best Investment Ever’

Jones, a veteran wildcatter, is making a contrarian bet, funding Comstock’s push while many rivals stick to Wall Street demands for capital discipline. He told the WSJ he views it as his “best investment ever,” even prioritizing it over his $13 billion NFL team.

Comstock is using new technology and techniques borrowed from offshore drillers to meet what it sees as soaring future natural gas demand from LNG exporters, data centers, and heavy industry.

The company has brought roughly 30 wells online, which are twice as expensive but also twice as productive as wells in the neighboring Haynesville Shale.

Jones told the WSJ he is ready to inject more cash if needed, predicting the field will become “one of the two or three top-ranked sources of gas in the United States.”

Comstock Resources Underperforms In 2025

Shares of CRK closed 1.51% higher at $17.51 apiece on Wednesday; however, the stock has declined by 6.36% year-to-date, underperforming the 17.42% YTD gains in the S&P 500. Over the year, Comstock was up 40.87%.

It maintains a weaker price trend over the short, medium, and long terms, as per Benzinga’s Edge Stock Rankings, with a poor value ranking. Additional performance details are available here.

On Thursday, the futures of the S&P 500, Dow Jones, and Nasdaq 100 indices were lower.

Meanwhile, on Wednesday, the S&P 500 index slipped 0.0044% to 6,890.59, whereas the Nasdaq 100 index rose 0.41% to 26,119.85. On the other hand, Dow Jones declined 0.16% to end at 47,632.00.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo courtesy: Piotr Swat / Shutterstock.com