10:40 - 5.11.2026

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November 5, Fineko/abc.az. A definitive purchase and sale agreement has been signed between Azerbaijan's state oil company SOCAR and Comstock for SOCAR to acquire non-operated working interests in 20% of Comstock's interest in its Legacy Haynesville upstream assets, 15% of Comstock's interest in its Western Haynesville upstream assets, and 15% of Comstock's 73% interest in Pinnacle Gas Services LLC.

SOCAR informs that under the agreement, the aggregate cash purchase price amounts to $1.65 billion, subject to customary purchase price adjustments.

SOCAR's interest in the Western Haynesville upstream assets will reduce to 7.5% after five years and after SOCAR has achieved a 15% return on investment in those assets.

The effective date of the transaction has been set as July 1, 2026.

The necessary governmental approvals and other legal procedures required under applicable legislation are being pursued to close the transaction.