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Comstock Resources, Inc.
Video analysis: CRK
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News: CRK
Comstock Resources: SOCAR Deal And Jones JV A Strong Vote Of Confidence Yet Risks Remain
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.
$1.65B SOCAR Deal & $450M JV Strengthen CRK's Financials & Growth
Comstock's $1.65B SOCAR deal and $450M drilling JV aim to cut debt, fund Haynesville growth and expand natural gas marketing.
Comstock plans to cut debt with $1.65 billion Haynesville stake sale to Azerbaijan's SOCAR
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.
COMSTOCK ANNOUNCES $1.65 BILLION STRATEGIC PARTNERSHIP WITH SOCAR AND $450 MILLION DRILLING JOINT VENTURE WITH JERRY JONES
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) Up 15.1% Since Last Earnings Report: Can It Continue?
Comstock (CRK) reported earnings 30 days ago. What's next for the stock?
BlackRock Inc. Takes $176.58 Million Position in Comstock Resources, Inc. $CRK
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
Is CRK Stock Worth Buying Despite Heavy Spending and Weak Estimates?
Comstock's improving production and deep inventory offer upside, but heavy spending, leverage and weaker estimates keep the near-term case in check.
Comstock Resources, Inc. $CRK Shares Acquired by Bank of America Corp DE
Bank of America Corp DE increased its holdings in shares of Comstock Resources, Inc. (NYSE: CRK) by 5.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 726,140 shares of the oil and gas producer's stock after purchasing an additional 38,060 shares
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