The State Oil Company of Azerbaijan (SOCAR) is acquiring stakes in several assets operating in the natural gas production and infrastructure sectors in the United States.
According to Yeniavaz.com, this was stated in information released by SOCAR.
It is noted that on November 4, 2026, SOCAR and US-based “Comstock Resources” signed a definitive purchase and sale agreement for the acquisition of interests in projects in the “Haynesville” Basin.
Under the agreement, SOCAR will acquire a 20% interest in the exploration and production assets of the “Legacy Haynesville” project and a 15% interest in the relevant assets of the “Western Haynesville” project. In addition, SOCAR will acquire 15% of “Comstock’s” 73% stake in “Pinnacle Gas Services LLC”.
The total transaction value amounts to $1.65 billion, subject to customary purchase price adjustments.
SOCAR’s stake could be reduced later
One of the notable terms of the agreement concerns SOCAR’s ownership interest in the “Western Haynesville” project. Specifically, after five years have passed and SOCAR has achieved a 15% return on its investment in these assets, the company’s stake in the project will be reduced from 15% to 7.5%.
Another important point is that the stakes acquired by SOCAR do not grant the company operational management rights. In other words, the day-to-day management of the projects, production operations and technical decision-making will remain under the control of “Comstock”.
Investment in one of the United States’ major gas basins
“Haynesville” is one of the largest shale gas basins in the United States. Located mainly across the states of Louisiana and Texas, the basin plays an important role in the country’s natural gas production.
One of the main areas of activity of “Comstock Resources” is precisely gas exploration and production in this region.
The “Legacy Haynesville” project, in which SOCAR will acquire an interest under the agreement, includes the company’s assets that are already producing and generating revenue. “Western Haynesville”, meanwhile, is considered a project with broader development prospects.
“Pinnacle Gas Services LLC” is not directly involved in gas production but provides infrastructure services for the gathering and transportation of produced gas. In this respect, SOCAR will be investing not only in production assets but also in part of the supply chain that delivers gas to the market.
What does the $1.65 billion deal mean for “Comstock”?
The transaction is also of significant financial importance to “Comstock Resources”.
Given the company’s high debt burden and need for new investments, the agreement with SOCAR could enable it to secure additional financial resources and reduce its debt obligations.
According to analyses based on publicly available financial data, as of the end of the second quarter of 2026, “Comstock’s” long-term debt stood at approximately $3.1 billion, while its cash reserves amounted to $45 million. The company’s capital expenditure plan for that year was $1.45–1.55 billion.
The agreement with SOCAR is considered an important step in the company’s strategy to improve its financial position by selling part of its assets.
At the same time, the parties plan to jointly explore opportunities to export gas produced in the Haynesville Basin to foreign markets in the form of liquefied natural gas (LNG).
What opportunities and risks does the deal present for SOCAR?
SOCAR’s investment can be regarded as an important step towards expanding the company’s position in international markets.
First and foremost, access to the US gas market creates opportunities for SOCAR to diversify its revenue streams, increase its assets across different markets and explore new opportunities in LNG trading.
Furthermore, participation in the projects could give SOCAR an opportunity to gain closer insight into the technologies and expertise used in the US shale gas sector.
However, the investment also carries certain risks. One of the main risks is the price of natural gas. Since the profitability of the projects will largely depend on gas prices in the US market, persistently low prices could delay SOCAR’s ability to achieve the returns it expects from its investment.
In addition, SOCAR’s lack of operational management rights in the projects limits the company’s ability to directly influence production and investment decisions.
SOCAR’s New Partner Is Among Trump’s Supporters
Jerry Jones, the largest shareholder of US-based “Comstock Resources”, in which SOCAR has acquired a stake, is one of America’s well-known billionaires, the owner of the “Dallas Cowboys” football team and the company’s controlling shareholder.
Jones acquired a controlling stake in “Comstock” in 2018. Under an agreement reached with the company’s shareholders at the time, entities owned by his family acquired newly issued shares in “Comstock”, thereby gaining a controlling interest in the company. In 2019, the company reported Jones’s ownership stake at 75%.
For many years, Jerry Jones has been regarded as one of the business figures who support the Republican Party and provide financial contributions to political activities in the United States.
For example, in 2017, $1 million was donated through the “Glenstone” group of companies, headed by Jerry Jones, to the committee established for Donald Trump’s first presidential inauguration. According to US media reports, the donation was made not directly in Jones’s name, but in the name of “Glenstone Limited Partnership”, a company associated with him.
It has also been confirmed that Jones made a donation to the inauguration ceremony organized in connection with Trump taking office as president for a second time in 2025. A representative of the “Dallas Cowboys” confirmed this to “Front Office Sports”, although the amount of the donation was not disclosed.
Jerry Jones’s financial support for Trump continued in 2026. According to reports by US media citing Federal Election Commission (FEC) records, ahead of the midterm elections, the billionaire contributed $1 million to “MAGA Inc.”, a political action committee associated with Trump, and approximately $500,000 to support Republican candidates and political organizations in the state of Texas.
Jones’s name also came up in another interesting development involving Trump. According to a report published by the US publication “NOTUS” in March 2026, Jacalynne Klopp, a deputy White House adviser on immigration issues, purchased shares in “Comstock”.
Murad Mammadov
Tətbiqimizi yükləyə bilərsiniz
