SOCAR Enters US Gas Market with $1.65 Billion Cash Investment in American Shale Projects Azerbaijan’s state-owned energy company SOCAR is set to sign a $1.65 billion cash deal to acquire stakes in gas-producing assets owned by US-based Comstock Resources and its subsidiary, Pinnacle Gas Services. Announced on November 4, the definitive agreement provides for the acquisition of a 20% interest in hydrocarbon production projects in the Legacy Haynesville area; a 15% interest in Western Haynesville projects—set to decline to 7.5% five years after the investment achieves a 15% return—and a 15% stake in Pinnacle Gas Services LLC. The agreement is expected to take effect on July 1, 2026, subject to

SOCAR Enters US Gas Market with $1.65 Billion Cash Investment in American Shale Projects

Azerbaijan’s state-owned energy company SOCAR is set to sign a $1.65 billion cash deal to acquire stakes in gas-producing assets owned by US-based Comstock Resources and its subsidiary, Pinnacle Gas Services.
Announced on November 4, the definitive agreement provides for the acquisition of a 20% interest in hydrocarbon production projects in the Legacy Haynesville area; a 15% interest in Western Haynesville projects—set to decline to 7.5% five years after the investment achieves a 15% return—and a 15% stake in Pinnacle Gas Services LLC.
The agreement is expected to take effect on July 1, 2026, subject to all necessary regulatory approvals. The seller, Comstock Resources, is one of the leading independent natural gas producers in the United States, focusing on shale fields in Louisiana and Texas and holding approximately 7 trillion cubic feet of proven reserves.