BKV Corporation has acquired Bedrock Production for $370m, gaining Barnett Shale assets, 97,000 net acres, midstream infrastructure, and a production rate of 108 million cubic feet equivalent per day, mainly natural gas. The deal includes 1,121 production sites, 800 billion cubic feet equivalent of proven reserves, and 50 new drilling sites with favorable natural gas price break-evens.

The acquisition strengthens BKV’s operational presence and production capacity in the Barnett Shale. CEO Chris Kalnin stated that combining Bedrock’s assets with BKV’s infrastructure enhances operational excellence and creates value for shareholders. BKV, based in Denver, focuses on natural gas production and previously partnered to advance a carbon capture and sequestration facility in south Texas.

The deal signifies BKV’s strategic move to consolidate high-quality Barnett Shale assets, demonstrating disciplined growth and operational expertise. BKV aims to maximize operational synergies and capital efficiency by integrating Bedrock’s assets with their existing infrastructure. The acquisition enhances BKV’s position as a dominant operator in the basin, creating substantial value for shareholders.

Read more at Yahoo Finance: BKV acquires Bedrock Production for $370m