Brief: Azerbaijan's SOCAR purchases stakes in Comstock's assets for $1.65 billion
BRIEF-Azerbaijan's SOCAR purchases stakes in Comstock's assets for $1.65 billion Nov 5 (Reuters) - Azerbaijan's SOCAR:
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
Under the agreement, the aggregate cash purchase price amounts to $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
(Reporting by Nailia Bagirova)
((anton.kolodyazhnyy@thomsonreuters.com;))
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