BAKU, Azerbaijan, November 5. Azerbaijan's
state oil company SOCAR will acquire stakes in Comstock’s US
assets, the company said on November 5.


"On November 4, 2026, a definitive purchase and sale agreement
was signed between 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," said SOCAR.


Reportedly, under the agreement, the aggregate cash purchase
price amounts to USD 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 1 July 2026. The necessary governmental
approvals and other legal procedures required under applicable
legislation are being pursued to close the transaction," said
Azerbaijan's state oil company.


Will be updated