On November 4, 2026, a final purchase and sale agreement was signed between SOCAR and “Comstock” for SOCAR to acquire a 20 percent participating interest in the “upstream” assets of the “Legacy Haynesville” project, a 15 percent participating interest in the “upstream” assets of the “Western Haynesville” project, and a 15 percent participating interest in the 73 percent owned by “Comstock” in “Pinnacle Gas Services LLC”, without the right to participate in the operational management.
elchi reports that, according to the agreement, the total value of the transaction is 1.65 billion US dollars, subject to standard adjustments to the purchase price.
SOCAR’s participating interest in the exploration and production assets of the “Western Haynesville” project will be reduced to 7.5 percent five years after SOCAR achieves a 15 percent return on its investment in those assets.
The effective date of the transaction has been set for July 1, 2026.
To finalize the transaction, approvals from relevant government agencies and other legal procedures in accordance with the law are being carried out.