EX-99.1 2 crk-ex99_1.htm EX-99.1 EX-99.1 Exhibit 99.1 5300 Town and Country Blvd., Suite 500 Frisco, Texas 75034 Telephone: (972) 668-8834 Contact: Ron Mills VP of Finance and Investor Relations Web Site: www.comstockresources.com NEWS RELEASE For Immediate Release COMSTOCK ANNOUNCES $600 MILLION STRATEGIC INVESTMENT BY SIXTH STREET IN PINNACLE GAS SERVICES FRISCO, TEXAS, June 15, 2026 - Comstock Resources, Inc. (NYSE: CRK) announced today that it has sold a minority equity interest in Comstock's midstream subsidiary, Pinnacle Gas Services LLC ("Pinnacle"), to certain funds managed by Sixth Street, a leading global investment firm. Sixth Street invested $600 million in Pinnacle and acquired a 27% non-controlling common equity interest in Pinnacle. Sixth Street's investment values Pinnacle at a $2.2 billion enterprise value. Upon closing the transaction, Comstock retained a 73% controlling common equity interest in Pinnacle, valued today at approximately $1.6 billion, and continues to manage, operate and control the business under a management services …
Open exhibit ↗Current Report · Items 8.01, 9.01 · 8-K
Comstock Resources, Inc.
CRKNYSEEQUITYCurrent
Other Events
Item 8.01 Other Events On June 15, 2026, Comstock Resources, Inc. (the "Company" or "Comstock") announced that it has sold a minority equity interest in Comstock's midstream subsidiary, Pinnacle Gas Services LLC ("Pinnacle"), to certain funds managed by Sixth Street.…
Company context
Comstock Resources, Inc. is a leading independent natural gas producer with operations focused on the development of the Haynesville shale in North Louisiana and East Texas. The Company's stock is traded on the NYSE and the NYSE Texas under the symbol CRK.
Current securities
Disclosure sections
Item 8.01Item 8.01 - Other Events
Item 8.01 Other Events
On June 15, 2026, Comstock Resources, Inc. (the "Company" or "Comstock") announced that it has sold a minority equity interest in Comstock's midstream subsidiary, Pinnacle Gas Services LLC ("Pinnacle"), to certain funds managed by Sixth Street. Sixth Street invested $600 million and acquired a 27% non-controlling common equity interest in Pinnacle with Comstock retaining a 73% controlling common equity interest. Comstock will continue to manage, operate and control Pinnacle under a management services agreement.
Comstock used the proceeds from the investment to fully extinguish and retire the Pinnacle preferred equity securities for $445 million plus accrued dividends and all outstanding indebtedness at Pinnacle, transaction costs and for working capital.
A copy of the Company's press release is filed as Exhibit 99.1 to this Form 8-K and is incorporated by reference.