Baku:SOCAR and Comstock have entered into a definitive purchase and sale agreement involving significant interests in Comstock's Haynesville assets. The deal includes the acquisition of non-operated working interests of 20% in Comstock's Legacy Haynesville upstream assets, 15% in the Western Haynesville upstream assets, and 15% of Comstock's 73% interest in Pinnacle Gas Services LLC.

According to Azerbaijan State News Agency, the transaction carries an aggregate cash purchase price of USD 1.65 billion, which is subject to customary purchase price adjustments. SOCAR's involvement in the Western Haynesville upstream assets will diminish to 7.5% after five years, contingent upon achieving a 15% return on investment.

The transaction's effective date has been established as July 1, 2026. Efforts to secure necessary governmental approvals and comply with legal procedures are currently underway to finalize the transaction.