SOCAR Invests $1.65B in Comstock Resources' Haynesville Shale Assets

Comstock Resources and SOCAR have solidified their partnership in the Haynesville shale by signing a framework agreement. The deal formalizes the commitment to negotiate and execute a definitive purchase and sale agreement consistent with the letter of intent announced earlier this year.

The $1.65 billion investment from SOCAR will expand its exposure to one of the largest U.S. natural gas-producing regions and a key supply basin for Gulf Coast LNG exports.

Under the partnership, Comstock expects the definitive agreement to be signed by October 31st, with the transaction targeted to close by year-end 2026.