Comstock Resources Inc. (NYSE: CRK) entered into a definitive agreement with Rosetta Resources Inc. (Nasdaq: ROSE) pursuant to which Rosetta will acquire all of Comstock's oil and gas properties in Reeves and Gaines counties in West Texas for a sales price of $768 million.

The oil and gas industry is experiencing some transformations in obtaining financing with private equity firms while a steel manufacturer recently took a working interest in Piceance basin natural gas drilling, a spokeswoman with Kohlberg Kravis Roberts & Co. LP told the Deloitte Oil & Gas Conference.

Comstock Resources Inc. and KKR have signed a joint venture agreement allowing KKR to participate in Comstock's future development of its Eagle Ford shale acreage in Atascosa, Frio, Karnes, LaSalle, McMullen and Wilson Counties in South Texas. 

Petro Harvester Oil & Gas LLC, an oil-focused exploration and production company formed by private investment firm TPG to acquire and develop producing assets in North America, has named William M. Griffin as president and CEO, effective immediately.  

Frisco, Texas-based Comstock Resources, Inc. announced May 9 the promotion of Mark A. Williams to COO. Williams, who has been with Comstock since 1996 and until his promotion served as vice president of operations, will oversee the company's exploration, production and drilling operations.