Comstock Sells Haynesville Stakes for 1.65B
Comstock Resources agreed to sell stakes in its Haynesville shale assets to Azerbaijan's SOCAR for 1.65 billion dollars in cash. The transaction aims to reduce the U.S. natural gas producer's net debt significantly by the end of the year.
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COMSTOCK RESOURCES INC agreed Tuesday morning to sell a $1.65B stake in its Haynesville assets to Azerbaijan's SOCAR to cut debt. The transaction halves the United States} gas producer's pro forma net debt. Investors pushed shares up nearly 7% in premarket trading following the announcement.
