BKV (BKV) completed its acquisition of Barnett Shale assets, adding over 65 million cubic feet equivalent per day of production and expanding its gas and carbon capture operations, the company said Tuesday.
The assets include approximately 0.35 trillion cubic feet equivalent of proved developed producing reserves and about 117,000 net acres, primarily located in Montague County.
The acquisition also adds roughly 1,000 gross operated wells to BKV's Barnett Shale portfolio.
The acquired production carries a low decline rate, with more than 50% of output coming from liquids, and expands BKV's ability to supply gas to Dallas-Fort Worth and Gulf Coast markets.
BKV also acquired an operated carbon capture and storage project that captured over 100,000 metric tons of carbon dioxide during the trailing twelve months through Q1 2026.
The carbon capture operation includes three compressors, a gas plant, an operated carbon dioxide pipeline, and an injection well.
The midstream assets include a gas plant with 180 MMcf/d of capacity, approximately 340 miles of owned gas gathering lines, and about 225 miles of owned water gathering systems.
The expanded footprint aims to improve scale, infrastructure use, and capital efficiency, the company said.
"These assets are a strong operational fit for BKV, and the acquisition builds on our disciplined approach to strengthening our position in the Barnett," said Chris Kalnin, Chief Executive Officer of BKV Corporation.
"By acquiring high-quality assets at an attractive value and further integrating upstream, midstream and carbon capture in a basin where we are already the leader, we are creating additional scale and long-term value for our shareholders," Kalnin said.
BKV funded the acquisition with cash on hand and borrowings under its revolving credit facility.
The company completed the acquisition Tuesday after satisfying customary closing conditions, with the deal terms undisclosed.
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