‘Another reason to hate Jerry Jones.’ Dallas Cowboys owner profits from Texas crisis
Dallas Cowboys owner Jerry Jones is profiting big from a spike in energy prices during the historic winter storm that has struck Texas and surrounding states.
Jones’ company Comstock Resources Inc. has sold gas from its Haynesville Shale wells in East Texas and northern Louisiana at premium prices since late last week as forecasts called for unprecedented, sustained freezing temperatures, according to Bloomberg News.
“This week is like hitting the jackpot with some of these incredible prices,“ CFO Roland Burns said during an earnings call earlier this week. “Frankly, we were able to sell at super premium prices for a material amount of production.“
The news wasn’t received well from many Texans sitting in freezing houses without power or water for multiple days.
This story was originally published February 19, 2021 at 3:49 PM.
