BKV Corporation successfully completed its strategic $370 million acquisition of Bedrock Energy Partners' Barnett Shale assets, significantly boosting its acreage, production, and reserve base.
BKV Corporation announced today the successful closure of its acquisition of all issued and outstanding equity interests of Bedrock Production, LLC, which includes Bedrock Energy Partners' high-quality assets in the Barnett Shale. The transaction, valued at approximately $370 million, marks a significant consolidation move that strengthens BKV's operational footprint and production capacity in one of the United States' premier natural gas formations.
The strategic acquisition immediately adds approximately 97,000 net acres that are directly contiguous with BKV's existing land position in the Barnett Shale. This proximity is key to maximizing operational efficiencies and capital deployment. The deal also includes critical midstream infrastructure and approximately 108 million cubic feet equivalent per day (MMcfed) of production, as of the quarter ending June 30, 2025, with natural gas constituting roughly 63% of the total.
The acquired assets are notable for their robust economics and long-term potential. They feature 1,121 producing locations characterized by low base decline rates—approximately 7% over one year and for the five-year period—suggesting stable, long-life production. Furthermore, the assets boast approximately 800 billion cubic feet equivalent (Bcfe) of proved reserves, calculated based on NYMEX strip pricing as of June 30, 2025.
Chris Kalnin, Chief Executive Officer of BKV, emphasized the strategic rationale behind the acquisition. "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 Kalnin. "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."
Kalnin underscored the disciplined nature of the company's growth strategy, stating the 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."
Looking ahead, the acquisition substantially enhances BKV's inventory for future development. It adds approximately 50 new drill locations, which feature long 10,000-foot equivalent lateral lengths and possess accretive natural gas price break-evens compared to BKV's current drilling inventory. Additionally, the portfolio gains 80 low-cost refracturing (refrac) locations, providing immediate and cost-effective avenues for production maintenance and growth.
The successful closure of this acquisition reinforces BKV's status as the largest natural gas producer by gross operated volume in the Barnett Shale.
