SOCAR Bets $1.65 Billion on U.S. Shale Gas Boom
Azerbaijan’s state oil and gas company SOCAR has struck a deal with Comstock to acquire some of its assets in the Haynesville shale and an infrastructure subsidiary. The price tag of the deal is $1.65 billion. The purchase includes a 20% stake in Comstock’s legacy Haynesville assets, a 15% stake in Western Haynesville, and 15% of Comstock’s majority interest in gas infrastructure subsidiary Pinnacle Gas Services. The deal comes amid widely shared expectations of extended growth in global demand for natural gas and U.S. growth…