SOCAR to buy stakes in Comstock’s US gas assets for $1.65 billion

The deal covers the Haynesville projects and a stake in Pinnacle Gas Services LLC.

SOCAR and Comstock have signed a definitive agreement for stakes in gas assets in the United States. The total deal value is $1.65 billion, subject to standard purchase price adjustments.

Author: Робот Source: State Oil Company of Azerbaijan

SOCAR and Comstock logos or gas production equipment in the United States — SOCAR and Comstock have agreed on stakes in US gas assets. Illustrative photo. Photo: Nappiness / Pixabay, Pixabay Content License

SOCAR and Comstock signed a definitive sale and purchase agreement on November 4, 2026, covering stakes in several gas assets.

SOCAR will acquire a 20% stake in the upstream assets of the Legacy Haynesville project and a 15% stake in the upstream assets of the Western Haynesville project. It will also buy 15% of Comstock’s 73% stake in Pinnacle Gas Services LLC. The acquired stakes do not include rights to participate in operational management.

The total deal value is $1.65 billion, subject to standard adjustments to the purchase price.

SOCAR’s interest in the exploration and production assets of the Western Haynesville project will fall to 7.5% after five years and once the company has achieved a 15% return on its investment in those assets.

The transaction’s effective date is July 1, 2026. Closing is subject to approvals from the relevant government authorities and completion of other legal procedures in accordance with applicable law.

Translated from Azerbaijani using artificial intelligence. Source: State Oil Company of Azerbaijan

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SOCAR to buy stakes in Comstock’s US gas assets for $1.65 billion

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