COMSTOCK ANNOUNCES SIGNING OF FRAMEWORK AGREEMENT FOR $1.65 BILLION STRATEGIC PARTNERSHIP WITH SOCAR
Comstock and SOCAR signed a framework agreement for SOCAR’s $1.65 billion investment in the Haynesville Shale. The deal links Comstock’s gas assets to Azerbaijan’s state energy company and nearby LNG export infrastructure, with further agreements still to be negotiated.
STOCK PHOTO · TOM FISKThe framework agreement was signed in conjunction with the Azerbaijan International Investment Forum on Sept. 28, 2026. Comstock Resources said the document memorializes the previously announced strategic partnership and SOCAR’s $1.65 billion investment in the Haynesville Shale, a major North American natural-gas basin near Gulf of America LNG export facilities.
The announcement moves the partnership from an earlier commitment into a formal framework, but the parties still intend to negotiate and execute additional agreements. The arrangement therefore establishes a mutual commitment without setting out the full operating, financing or commercial structure in the information available.
Comstock is the Haynesville operator named in the announcement, while SOCAR is the Azerbaijani state energy company providing the strategic investment. The concrete connection is the proposed deployment of SOCAR capital into Comstock’s Haynesville position and its access to LNG export infrastructure.
Comstock reported $2.2 billion of revenue for fiscal 2025, up 77.0% year over year, with a 17.8% net margin and $1.43 diluted EPS. Those figures predate the framework agreement and do not describe its financial contribution.
The next key development is the negotiation and execution of the additional agreements contemplated by the framework. Their terms will determine how the $1.65 billion investment is funded, deployed and reflected in Comstock’s operations.
Comstock Resources (CRK) signed a framework agreement memorializing SOCAR’s $1.65 billion Haynesville investment.
The framework gives Comstock a formalized strategic partner and a stated $1.65 billion capital commitment for its Haynesville assets, creating a potential funding path for gas production near LNG export facilities. Comstock’s fiscal 2025 revenue was $2.2 billion, up 77.0% year over year, but the agreement’s effect on ownership, cash flow and earnings depends on the additional contracts still to be executed.
The read fails if the parties do not execute the additional agreements or if their terms materially reduce Comstock’s economic participation in the Haynesville investment.
CoverageSource: GlobeNewswire · Published here MON, SEP 28 · 8:00 AM ET · the only report in this recordHow this is decided →
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SOCAR’s $1.65 billion commitment could provide substantial capital for Comstock’s Haynesville position alongside access to nearby LNG export infrastructure.
The framework is not the final commercial package, so the timing, structure and earnings contribution of the partnership remain unresolved.
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