Comstock outlines USD 1.65 billion SOCAR stake deal in Haynesville, Pinnacle Gas Services

Comstock outlined a binding LOI with SOCAR for a USD 1.65 billion cash strategic partnership in Haynesville assets.

• SOCAR to buy 20% of Comstock’s Legacy Haynesville interest, 15% of Western Haynesville, and 15% of Pinnacle Gas Services.
• Western Haynesville stake is slated to revert from 15% to 7.5% once five years pass and a 15% return is reached.
• Proceeds are earmarked for debt repayment; pro forma net debt is shown at about USD 1.5 billion versus USD 3.1 billion at June 30, 2026.
• Target timeline calls for signing by Oct. 31, 2026, with closing by year-end 2026; Comstock remains operator.