Strategic acquisition adds 97,000 net acres and 108 million cubic feet equivalent per day of production, strengthening BKV's leadership position as largest natural gas producer in the Barnett Shale
BKV Corporation has announced the successful completion of the acquisition of all of the issued and outstanding equity interests of Bedrock Production, LLC, resulting in the acquisition of Bedrock Energy Partners’ Barnett Shale assets, for approximately $370 million. The transaction significantly expands BKV's operational footprint and production capacity in the prolific Barnett Shale formation.
The acquisition includes approximately 97,000 net acres that will directly offset BKV's existing acreage, along with critical midstream infrastructure and approximately 108 million cubic feet equivalent per day (MMcfed) of production, as of the quarter ending June 30, 2025, consisting of approximately 63% natural gas. 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 June 30, 2025.
'This strategic consolidation of high-quality Barnett Shale assets represents a natural extension of our proven operational excellence in this premier natural gas basin,' said Chris Kalnin, Chief Executive Officer of BKV. 'By combining Bedrock's complementary assets with our existing infrastructure and deep operational expertise in the Barnett Shale, we are strengthening our position as the dominant operator in this basin while creating substantial value for our shareholders. This transaction exemplifies our disciplined approach to growth – consolidating high-quality assets where we have proven expertise along with existing infrastructure to maximize operational synergies and capital efficiency.'
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.
Source: BKV Corp
