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Comstock strikes $1.65 billion SOCAR deal to cut debt in half
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Comstock Resources plans a $1.65 billion cash partnership with Azerbaijan’s SOCAR to sell non-operated interests in Legacy and Western Haynesville assets and a stake in Pinnacle Gas Services, aiming to reduce pro forma net debt from about $3.1 billion to $1.5 billion. Separately, a $450 million drilling venture funded by Jerry Jones will support further development of the Haynesville assets, with closing and definitive agreement targets by year-end 2026.
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Tom Gallagher
Cutting debt in half is huge for Comstock, curious what SOCAR gets long term from non-operated stakes in Haynesville.
