Stocks · News reference
Reference Details
Poisar stores the source's headline, summary and market tags for reference. Reporting and full article text remain with the original publisher.
Keep reading
Comstock Resources (CRK) has announced a $1.65 billion strategic partnership with Azerbaijan's SOCAR and a $450 million drilling joint venture with Jerry Jones. The deals will reduce pro forma net debt from $3.1 billion to $1.5 billion, provide LNG marketing capabilities, and fund drilling of 27 wells in the Haynesville while CRK retains operational control. The SOCAR transaction is expected to close by year-end 2026.
RPC Inc. reported Q2 2026 sequential revenue growth of 1% to $461 million with adjusted EBITDA margin expansion of 250 basis points to 14.3%, driven by strong execution in downhole tools and coiled tubing services. However, wireline revenues declined 16% due to competitive pricing pressures and customer activity reductions. The company raised 2026 capital expenditure guidance to $170-190 million and announced CEO Ben Palmer's retirement by year-end after 30 years with the company. Management remains cautious on near-term activity levels despite supportive oil prices, citing geopolitical uncertainty affecting operator investment decisions.
Filed: 2026-07-30 AccNo: 0001104659-26-088439 Size: 900 KB Item 2.02: Results of Operations and Financial Condition Item 9.01: Financial Statements and Exhibits