BKV Corporation has successfully closed the acquisition of Bedrock Energy Partners' Barnett Shale assets for approximately $370 million, significantly expanding its operational footprint and production capacity in the prolific Barnett Shale formation. The acquisition includes approximately 97,000 net acres directly offsetting BKV's existing acreage, critical midstream infrastructure, and approximately 108 million cubic feet equivalent per day (MMCFED) of production, consisting of approximately 63% natural gas.
As of the quarter ending June 30, 2025, the assets feature 1,121 producing locations with attractive economics, including low 1* and 5-year base decline rates of approximately 7% and approximately 800 billion cubic feet equivalent of proved reserves based on NYMEX strip pricing as of the same date.
The acquisition adds approximately 50 new drill locations with equivalent 10,000-foot lateral lengths at accretive natural gas price break-evens compared to BKV's existing inventory and 80 low-cost refrac locations, providing substantial future development opportunities.
Chris Kalnin, the Chief Executive Officer of BKV, emphasized the strategic consolidation of high-quality Barnett Shale assets, stating that it represents a natural extension of their operational excellence in this premier natural gas basin. He highlighted the company's disciplined approach to growth, consolidating high-quality assets where they have proven expertise along with existing infrastructure to maximize operational synergies and capital efficiency.
This acquisition further strengthens BKV's position as the dominant operator in the Barnett Shale, reinforcing its status as one of the top 20 gas-weighted natural gas producers in the United States and the largest natural gas producer by gross operated volume in the Barnett Shale. The market has reacted to these announcements by moving the company's shares 2.81% to a price of $23.78. If you want to know more, read the company's complete 8-K report here.
