16:19 - 1.09.2026

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September 1, Fineko/abc.az. SOCAR and US-based Comstock Resources, Inc. have signed a Letter of Intent to establish a strategic partnership.

Under the agreement, SOCAR will acquire a 20% interest in Comstock's Legacy Haynesville upstream assets, a 15% interest in Western Haynesville upstream assets (subject to reduction to 7.5% upon achieving target returns), and a 15% stake in Comstock's 73% interest in Pinnacle Gas Services LLC.

The total transaction value is $1.65 billion, subject to standard purchase price adjustments. The parties aim to sign the definitive purchase agreement by October 31, 2026, and close the transaction by December 31, 2026, following regulatory approvals. Comstock will remain the operator of the assets, and both companies will collaborate on expanding natural gas access to international markets.