Comstock, Azerbaijan's Socar Sign Framework Agreement for $1.65 Billion Investment in Haynesville Shale

08:57 AM EDT, 09/28/2026 (MT Newswires) -- Comstock Resources (CRK) has entered into a framework agreement with Azerbaijan owned oil and gas company Socar memorializing the earlier stated partnership and Socar's $1.65 billion investment in the Haynesville Shale, a natural gas basin located in northern Louisiana and East Texas, Comstock said on Monday. The framework agreement memorializes the companies' mutual commitment to negotiate and execute a definitive purchase and sale agreement consistent with the earlier stated letter of intent for the $1.65 billion investment, Comstock said. Comstock and Socar will work together to explore opportunities for Socar to market natural gas produced from Haynesville Shale assets attributable to Comstock, Comstock said. Additionally, the definitive purchase and sale agreement is anticipated to be signed no later than Oct. 31, and the deal is slated to be completed by the end of the year, Comstock said. Shares of Comstock were up more than 2% in recent Monday premarket activity.