Comstock to sell Haynesville interests to SOCAR for $1.65B; net debt to halve

COMSTOCK RESOURCES INC

SOCAR to pay $1.65B cash for 20% of Legacy Haynesville, 15% of Western Haynesville (reverts to 7.5% after 5 yrs/15% ROI), and 15% of Pinnacle Gas Services.
Pro forma net debt falls from $3.1B to $1.5B as of June 30, 2026; Comstock retains operatorship.
Definitive PSA targeted by Oct 31, 2026; closing by year-end; effective date July 1, 2026.
Jerry Jones partnership funds 85% of 18 Western and 80% of 9 Legacy wells (~$450M); 50% reverts after 15% ROI.

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