The High Stakes of Deleveraging: Comstock's $1. 65B SOCAR Deal Raises More Questions Than Answers Comstock Resources has signed a nonbinding letter of intent with SOCAR for a $1.
65 billion deal that appears to alleviate its crippling debt burden. However, the devil lies in the fine print, and as we examine the details, it becomes clear that this transaction raises more questions than answers.
The proposed deal involves SOCAR acquiring 20% of Comstock's Legacy Haynesville and 15% of its Western Haynesville upstream interests for $1. 65 billion.