Comstock Resources

Comstock Resources agreed to a nonbinding $1.65 billion letter of intent with SOCAR for minority working interests in Legacy and Western Haynesville assets and 15% of Pinnacle Gas Services, targeting a definitive agreement by Oct. 31 and close by year-end. Separately, a Jerry Jones family partnership will fund ~85% of costs for 18 Western Haynesville wells and 80% for nine Legacy wells in a $450 million, 27-well program, with 50% of covered interests reverting to Comstock after a 15% ROI. If completed, the SOCAR proceeds could cut Comstock’s non-GAAP net debt from $3.1 billion to about $1.5 billion, but the deals transfer near-term production, cash flow and future upside before reversion and raise related-party governance considerations. » Mere på finance.yahoo.com

Comstock Resources and NextEra are developing a $16 billion gas-fired power hub in Anderson County, Texas, financed in part by Japanese capital to serve AI data centers and manufacturing. The project highlights growing competition between domestic data center demand and long-term LNG contracts by buyers like Mitsui, putting pressure on production and pipeline capacity. Analysts warn current output is sufficient for now but growth must keep pace with rising LNG exports and AI demand to avoid higher domestic prices or supply conflicts by 2030. » Mere på forbes.com

Comstock Resources’ stock fell to a 52-week low of $12.44 and is down about 40.54% year-to-date and 42% over the past six months. The shares trade at a P/E of 5.94, and InvestingPro notes a significant debt burden. In Q1 2026 Comstock missed on EPS ($0.15 versus $0.2584 expected) but beat revenue estimates ($587.35 million versus $550.94 million). The company sold 27% of its midstream stake Pinnacle for $600 million. Mizuho rates the stock neutral with a $21.00 price target and expects weaker EBITDAx and free cash flow due to lower natural gas prices. » Mere på de.investing.com