Jay Allison_Ernst & Young Entrepreneur Of The Year® 2009 Winner in the Energy, Chemicals & Mining category
Palm Springs, 15 November 2009– M. Jay Allison, president and CEO of Comstock Resources, Inc. (NYSE:CRK) in Frisco, Texas was named the Ernst & Young Entrepreneur Of The Year® 2009 national winner in the Energy, Chemicals and Mining category. Now in its 23rd year, the awards recognize leaders and visionaries who demonstrate innovation, financial success and personal commitment as they create and build world-class businesses.
Allison leads Comstock Resources, a company that many consider to be the “gold standard” among energy exploration and production businesses. Allison was honored at the Entrepreneur Of The Year® gala in Palm Springs – the culminating event of the Ernst & Young Strategic Growth Forum, the nation’s most prestigious gathering of high-growth, market-leading companies. Awards were given in nine additional categories. All Ernst & Young Entrepreneur Of The Year® winners were selected by an independent panel of judges from approximately 400 regional award recipients.
Based in Frisco, Texas, Comstock Resources is a growing, independent energy company, engaged in oil and gas acquisition, exploration and development. Their work is focused primarily in Texas and Louisiana.
Third time is the charm for Allison
Jay Allison learned many of life’s best lessons from his mother. A single parent, she gave him an untiring work ethic, supporting her family as a carhop, a waitress and even a forklift driver. That attitude helped guide his life, first as an attorney with an oil and gas law firm and then as an entrepreneur. His first two attempts to invest in an oil and gas well failed. The third time, he decided to drill his own well, a decision that paid off when that well produced.
Allison co-founded Midwood Petroleum to acquire and develop oil and gas properties. He was later involved with Ewing Oil before forming Comstock Resources. The company went public through a creative transaction to complete a reverse merger with the then-publicly traded Comstock Tunnel and Draining, a silver mining company with roots dating back to the Civil War.
Slow and steady growth
The company’s growth has come from a combination of successful exploration activities and acquisition of producing oil and gas properties. Allison avoided a risky and rapid growth path. Instead he has guided the company to steady and strong growth. In 2008, Comstock Resources’ stock outperformed all exploration and production peers on the NYSE.
Allison approaches his work as he does his life – with gratitude and fortitude. In college, Allison showed up as a walk-on at football practice at Baylor University. Overcoming his smaller stature, he became a three year letterman and part of the 1976 Southwest Conference championship football team. This year, Baylor opened the Jay and Jenny Allison Indoor Football Practice Facility, just one of the ways Allison gives back to the community.
Entrepreneur Of The Year® 2009 national finalists in Energy, Chemicals & Mining category.
In addition to Allison, the Ernst & Young Entrepreneur Of The Year® national finalists in the Energy, Chemicals and Mining category are:
William H. von Eberstein, Jr., president and CEO of ExPert E&P Consultants, LLC in Corington, Louisiana, a leader in oil and gas well drilling, completion and intervention.
James E. Ferrell, chairman and CEO of Ferrellgas (NYSE: FGP) in Overland Park, Kansas, one of the nation’s largest propane retailers.
John H. Pinkerton, chairman and CEO of Range Resources Corporation (NYSE: RRC) of Fort Worth, Texas, an independent oil and gas company operating in the Southwestern and Appalachian regions of the US.
Overall Entrepreneur Of The Year® 2009 National Winner
Tom Adams, president and CEO of Rosetta Stone Inc. (NYSE: RST), was named the Overall Ernst & Young Entrepreneur Of The Year® 2009 national winner.
Video and Photos
To view video clips of all the Entrepreneur Of The Year® winners, please visit the Ernst & Young YouTube Channel at http://www.youtube.com/user/ErnstandYoungGlobal. Photos of the winners are also available by request.
Sponsors
Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year® awards are pleased to have the Ewing Marion Kauffman Foundation and SAP America as national sponsors
About Ernst & Young’s Entrepreneur Of The Year®
Ernst & Young’s Entrepreneur Of The Year® is the world’s most prestigious business award for entrepreneurs. The award makes a difference through the way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Ernst & Young Entrepreneur Of The Year® celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 135 cities in 50 countries.
About Ernst & Young's Strategic Growth Markets Practice
Ernst & Young's Strategic Growth Markets (SGM) practice guides leading high-growth companies. Our multi-disciplinary team of elite professionals provides perspective and advice to help our clients accelerate market leadership. SGM delivers assurance, tax, transactions and advisory services to thousands of companies spanning all industries. Ernst & Young is the undisputed leader in taking companies public, advising key government agencies on the issues impacting high-growth companies, and convening the experts who shape the business climate. For more information, please visit us at www.ey.com/us/strategicgrowthmarkets.
About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 144,000 people are united by our shared values and an unwavering commitment to quality.
We make a difference by helping our people, our clients and our wider communities achieve their potential.
For more information, please visit www.ey.com.
Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity.
This news release has been issued by Ernst & Young LLP, a member firm of Ernst Young Global Limited located in the US.
###
