FRISCO, TX, Oct. 05, 2026 (GLOBE NEWSWIRE) -- Comstock Resources, Inc. (NYSE:CRK) plans to release its third quarter 2026 results on November 4, 2026 after the market closes and host its quarterly conference call at 10:00 a.m. CT on November 5, 2026 to discuss the third quarter results.
Comstock's $1.65B SOCAR partnership advances, adding LNG market access and greater visibility to its Haynesville growth strategy.
FRISCO, TX, Sept. 28, 2026 (GLOBE NEWSWIRE) -- Comstock Resources, Inc. (NYSE and NYSE Texas: CRK) ("Comstock" or the "Company") announced today that in conjunction with the Azerbaijan International Investment Forum, Comstock and SOCAR entered into a Framework Agreement memorializing the previously announced strategic partnership and SOCAR's $1.65 billion investment in the Haynesville Shale, North America's premier natural gas basin with close proximity to the Gulf of America's LNG export facilities. The Framework Agreement memorializes both parties' mutual commitment to negotiate and execute a definitive purchase and sale agreement consistent with the previously announced letter of intent related to the $1.65 billion strategic partnership. The definitive purchase and sale agreement is anticipated to be signed no later than October 31, 2026, and the transaction is expected to be closed by the end of 2026.
Comstock Resources (CRK) retains a Buy rating, suitable only for aggressive, risk-tolerant investors due to ongoing free cash flow outspend through 2027. Recent SOCAR and Jones JV deals inject $1.65 billion in cash, reduce leverage, and provide $450 million in drilling cost coverage, easing near-term liquidity risk. Comstock's investment case hinges on structurally higher US natural gas prices and significant D&C cost reductions in the Western Haynesville by late 2027.
Comstock's $1.65B SOCAR deal and $450M drilling JV aim to cut debt, fund Haynesville growth and expand natural gas marketing.
Comstock Resources on Tuesday said it plans to sell stakes in its Haynesville shale assets and related midstream business to Azerbaijan's SOCAR for $1.65 billion in cash, as the U.S. natural gas producer aims to reduce its debt.
FRISCO, TX, Sept. 01, 2026 (GLOBE NEWSWIRE) -- Comstock Resources, Inc. (NYSE and NYSE Texas: CRK) ("Comstock" or the "Company") announced today that it has entered into a letter of intent with the State Oil Company of the Azerbaijan Republic ("SOCAR") under which SOCAR or a wholly owned subsidiary of SOCAR would acquire, subject to the terms of the letter of intent and a definitive purchase and sale agreement, (i) a non-operated working interest representing 20% of Comstock's interest in its Legacy Haynesville upstream assets, (ii) a non-operated working interest equal to 15% of Comstock's interest in its Western Haynesville upstream assets, reducing to 7.5% after five years and once SOCAR has achieved a 15% return on investment in those assets, and (iii) 15% of Comstock's 73% ownership interest in Pinnacle Gas Services LLC, which provides midstream services to the Western Haynesville, for an aggregate purchase price of $1.65 billion in cash, subject to customary purchase price adjustments. The letter of intent binds the parties to negotiate in good faith a definitive purchase and sale agreement, with the parties targeting execution by October 31, 2026, and a closing by year end, in each case subject to the progress of negotiations. Closing will be subject to customary conditions, including any required government and third-party approvals. The transaction will have an effective date of July 1, 2026.
Comstock (CRK) reported earnings 30 days ago. What's next for the stock?
BlackRock Inc. purchased a new position in Comstock Resources, Inc. (NYSE: CRK) during the undefined quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 11,835,338 shares of the oil and gas producer's stock, valued at approximately $176,583,000. BlackRock Inc. owned approximately 4.03% of
Comstock's improving production and deep inventory offer upside, but heavy spending, leverage and weaker estimates keep the near-term case in check.
