Rosetta Resources Inc. Acquires Oil-Rich Assets in Permian's Delaware Basin Adding Significant Capital Project Inventory

Rosetta Resources Inc. Acquires Oil-Rich Assets in Permian's Delaware Basin
Adding Significant Capital Project Inventory

  *Provides new basin entry in Permian and access to oil-weighted multi-pay
  *Adds 40,200 net acres in Delaware Basin delineated Wolfbone play
  *Expands capital project inventory by approximately 1,300 gross drilling
  *Adds 13,100 net acres with multiple exploratory opportunities in Midland
  *Accretive to cash flow per share in 2014

HOUSTON, March 15, 2013 (GLOBE NEWSWIRE) -- Rosetta Resources Inc.
(Nasdaq:ROSE) ("Rosetta" or the "Company") today announced it has entered into
a definitive agreement to acquire Permian Basin assets from Comstock
Resources, Inc. (NYSE:CRK) ("Comstock") for a purchase price of approximately
$768 million, subject to customary closing adjustments.

The acquisition covers 53,306 net acres (87,373 gross) located in Reeves and
Gaines counties in West Texas. The Reeves County assets located in the
Delaware Basin include 40,182 net acres and 74 producing (52 operated)
primarily Wolfbone wells. Total current net production is approximately 3,300
barrels of oil equivalent per day (Boe/d) of which more than 73 percent is
oil. Rosetta projects significant growth potential for the area based on an
estimated 1,300 gross, or nearly 800 net well locations targeting the Wolfbone
on 40-acre vertical well spacing. The Company estimates total net risked
resources potential of 145 million barrels of oil equivalent (MMBoe) of which
67 percent is oil and 82 percent liquids. Potential upside also exists from
further vertical well down-spacing and potential horizontal drilling,
including the Wolfcamp formation, none of which is currently included in the
resource estimate. Rosetta would be the operator of the majority of the Reeves
County assets.

The Gaines County assets located in the Midland Basin cover 13,124 net acres
and are currently un-delineated. Potential exists for multiple exploratory
opportunities in the area. The Company's resource estimate for the Permian
Basin acquisition excludes potential future resources from the Gaines County

"This oil-targeted acquisition is an important next step in Rosetta's strategy
to pursue new growth opportunities and build our inventory of long-lived,
oil-rich resource projects. These assets complement our Eagle Ford properties
and are a good fit with the experience and technical knowledge of our
operations team," said Jim Craddock, chairman, CEO and president. "This
transaction provides entry into the prolific Permian Basin with both existing
production and strong growth potential in proven delineated areas as well as
prospective exploration targets on undeveloped acreage. The addition of new
capital project inventory provides competitive options as we prepare to deploy
the free cash flow generated by our Eagle Ford assets."

The transaction is effective as of January 1, 2013 and is expected to close on
or about May 15, 2013. The transaction is subject to title and environmental
due diligence and other customary closing conditions. The Company has secured
an additional $700 million of committed financing for the transaction with the
potential of accessing the capital markets prior to closing.

RBC Richardson Barr served as financial advisor to Rosetta on this

Further information regarding the Permian Basin acquisition will be discussed
during a conference call on Friday, March 15, 2013, at 9:00 a.m. Central Time,
with an accompanying presentation. The conference call will broadcast live
over the internet and instructions for listening to the call are shown below.

What: Rosetta Resources Inc. Permian Basin Acquisition Conference Call
When: Friday, March 15, 2013 at 9:00 a.m. Central, 10:00 a.m. Eastern
How:  Conference Call – Dial (877) 293-5486 or listen live over the Internet
       via our website at the address above.

If you are not able to participate in the conference call, an audio replay
will be available from March 15, 2013, 2:00 p.m. Central, through March 22,
2013, 11:59 p.m. Central, by dialing (855) 859-2056, or for international
(404) 537-3406, and entering conference code 23906219. A replay of the
conference call may also be found on the Company's website,

Rosetta Resources Inc. is an independent exploration and production company
engaged in the acquisition and development of onshore energy resources in the
United States of America. The Company holds a leading position in the Eagle
Ford area in South Texas, one of the nation's largest unconventional resource
plays. Rosetta is based in Houston, Texas.

The Rosetta Resources Inc. logo is available at


Forward-Looking Statements

This press release includes forward-looking statements, which give the
Company's current expectations or forecasts of future events based on
currently available information. Forward-looking statements are statements
that are not historical facts, such as expectations regarding completion of
the proposed acquisition, drilling plans, including the acceleration thereof,
production rates and guidance, proven reserves, resource potential,
incremental transportation capacity, exit rate guidance, net present value,
development plans, progress on infrastructure projects, exposures to weak
natural gas prices, changes in the Company's liquidity, changes in acreage
positions, expected expenses, expected capital expenditures, and projected
debt balances. The assumptions of management and the future performance of the
Company are subject to a wide range of business risks and uncertainties,
including the risk that the transaction with Comstock may not close, and there
is no assurance that these statements and projections will be met. Factors
that could affect the Company's business include, but are not limited to: the
risks associated with drilling and completion of oil and natural gas wells;
the Company's ability to find, acquire, market, develop, and produce new
reserves; the risk of drilling dry holes; oil liquids and natural gas price
volatility; derivative transactions (including the costs associated therewith
and the abilities of counterparties to perform thereunder); uncertainties in
the estimation of proved, probable, and possible reserves and in the
projection of future rates of production and reserve growth; inaccuracies in
the Company's assumptions regarding items of income and expense and the level
of capital expenditures; uncertainties in the timing of exploitation
expenditures; operating hazards attendant to the oil and natural gas business;
drilling and completion losses that are generally not recoverable from third
parties or insurance; potential mechanical failure or underperformance of
significant wells; midstream and pipeline construction difficulties and
operational upsets; climatic conditions; availability and cost of material,
equipment and services; the risks associated with operating in a limited
number of geographic areas, as well as in new areas as a result of the
Comstock transaction; actions or inactions of third-party operators of the
Company's properties; the Company's ability to retain and hire skilled
personnel; diversion of management's attention from existing operations while
pursuing acquisitions or dispositions; the Company's ability to integrate the
newly acquired assets and operations, including the assets to be acquired from
Comstock; availability and cost of capital; the strength and financial
resources of the Company's competitors; regulatory developments; environmental
risks; uncertainties in the capital markets; general economic and business
conditions (including the effects of the worldwide economic recession);
changes in commodity prices that were not anticipated in the acquisition of
the assets and operations from Comstock; industry trends; and other factors
detailed in the Company's most recent Form 10-K, Form 10-Q and other filings
with the Securities and Exchange Commission. If one or more of these risks or
uncertainties materialize (or the consequences of such a development changes),
or should underlying assumptions prove incorrect, actual outcomes may vary
materially from those forecasted or expected. The Company undertakes no
obligation to publicly update or revise any forward-looking statements except
as required by law.

References to quantities of oil or natural gas may include amounts that the
Company believes will ultimately be produced, but are not yet classified as
"proved reserves" under SEC definitions. We use the term "net risked
resources" to describe the Company's internal estimates of volumes of natural
gas and oil that are not classified as proved developed reserves but are
potentially recoverable through exploratory drilling or additional drilling or
recovery techniques. Estimates of net risked resources are by their nature
more speculative than estimates of proved reserves and accordingly are subject
to substantially greater risk of actually being realized by the Company.
Estimates of net risked resources may change significantly as development
provides additional data, and actual quantities that are ultimately recovered
may differ substantially from prior estimates.

CONTACT: Investor Contact:
         Don O. McCormack
         Vice President, Treasurer and Chief Accounting Officer
         Rosetta Resources Inc.

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