Comstock Resources Inc. (NYSE: CRK) and SOCAR have signed a framework agreement officially securing SOCAR's investment of $1.65 billion in the Haynesville shale assets. This was announced in a press release from the company, with the message published from Frisco, Texas.
The agreement was signed during the Azerbaijan International Investment Forum and formalizes the previously announced strategic partnership. Both parties have committed to negotiate and finalize a purchase agreement in accordance with the previously signed letter of intent. The final agreement is expected to be signed no later than October 31, 2026, with the deal's completion anticipated by the end of 2026.
As part of the partnership, Comstock and SOCAR intend to explore opportunities for marketing natural gas produced from the Haynesville assets in Comstock's share as liquefied natural gas in international markets outside the U.S. The companies will focus on identifying potential buyers, assessing pricing structures, and analyzing logistical and regulatory aspects.
The strategic partnership is part of broader relations between the U.S. and Azerbaijan under the protocol of the first Azerbaijan-U.S. economic dialogue signed in June 2026. The Azerbaijan-U.S. framework program for ensuring supplies in the extraction and processing of critical minerals and rare earth elements was signed by the Minister of Economy of Azerbaijan and the U.S. Assistant Secretary of State for Economic, Energy, and Business Affairs.
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