DevX Energy

( DEVX) was up sharply in the preopen after the company agreed to be acquired by

Comstock Resources

(CRK) - Get Report

for $7.32 a share cash.

The Dallas-based independent energy company said Comstock will begin a cash tender offer on Nov. 15 and follow it with a merger in which existing DevX shares will be converted to cash.

DevX's shares were recently gaining 63 cents, or 9.5%, to $7.23 on Instinet.