Comstock Resources Expects SOCAR Sale to Cut Debt by Half
Photo: TokenPost
Comstock Resources expects a planned $1.65 billion sale to SOCAR to cut its debt by half and bring leverage to 2x. The company has also outlined a 2026 plan for the Western Haynesville that includes drilling 19 wells and turning 20 to sales. Chairman and CEO Miles Allison said third-quarter production was 8% higher than in the second quarter, driven by new wells turned to sales. Comstock’s third-quarter results included non-GAAP earnings per share of $0.02 and revenue of $384.36 million, down 14.5% year over year. John Kim reports on the digital-asset business for TokenPost.
Source: TokenPost
