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SOCAR Bets $1.65 Billion on U.S. Shale Gas Boom
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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…
Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.
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