$1.65B SOCAR Deal & $450M JV Strengthen CRK's Financials & Growth
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.