Comstock Resources, Inc. agreed to sell stakes in Legacy Hainesville, Western Hainesville and Pinnacle Gas Service to SOCAR for $1.65 billion, with closing expected by year-end 2026 and proceeds directed to debt repayment.
CRK · Comstock Resources Inc · Documents
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Comstock Resources Inc agreed on November 4, 2026 to sell interests to SOCAR for $1.65 billion, expecting a $150 million to $250 million gain upon closing. Proceeds are planned to repay the bank credit facility.
Comstock Resources, Inc. agreed to sell interests to SOCAR for $1.65 billion; third-quarter production rose 9% to 122.4 Bcfe, operating cash flow was $180.2 million, and net income available was $22.3 million.