Comstock sells 27% stake in Pinnacle Gas Services to Sixth Street for $600M

Comstock Resources sold a minority equity interest in its midstream subsidiary Pinnacle Gas Services to Sixth Street Partners for $600 million, valuing Pinnacle at $2.2 billion enterprise value. The transaction strengthens Comstock's balance sheet by retiring preferred equity and debt while retaining 73% controlling interest and operational control of the midstream business.