BKV Corporation Reports Second Quarter 2025 Financial and Operational Results, Updated 2025 Guidance, Strategic Barnett Shale Acquisition, and Carbon Sequestered Gas Deal
Aug 12, 2025 7:00 AM Eastern Daylight Time
DENVER--(
BUSINESS WIRE)--BKV Corporation (“BKV” or the “Company”) (NYSE: BKV), today reported financial and operational results for the second quarter of 2025 and updated guidance for the third quarter and full year of 2025. In addition, the Company is announcing a pending strategic transaction in the Barnett Shale with Bedrock, as well as a Carbon Sequestered Gas deal with Gunvor, a leading commodities trader.
Second Quarter 2025 HighlightsNet income attributable to BKV of $104.6 million or $1.23 per diluted share
Adjusted Net Income of $32.8 million or $0.39 per diluted share
Combined Adjusted EBITDAX attributable to BKV of $88.2 million (includes implied proportionate share of Power JV Adjusted EBITDA of $17.7 million)
Net cash provided by operating activities of $76.2 million
Net cash provided by operating activities before working capital of $64.4 million
Accrued capital expenditures of $78.8 million
Adjusted Free Cash Flow attributable to BKV of $2.1 million
Barnett Zero quarterly sequestration of approximately 30,400 metric tons of CO2 equivalent
Total generation from the Power JV’s Temple Plants of 1,913 GWh
Average net production of 811.0 MMcfe/d
Net leverage ratio of 0.63x
Previously announced entry into joint venture agreement with C Squared Solutions, Inc., a subsidiary of Copenhagen Infrastructure Partners (“CIP”), to develop carbon capture, utilization, and sequestration (“CCUS”) projects
FY 2025 Updated Guidance HighlightsNet production of 790-810 MMcfe/d, reflecting a 4% increase at the mid-point
Capital expenditures of $290-$350 million, reflecting a 9% decrease at the mid-point
Strategic Barnett Shale Acquisition HighlightsOn August 7, 2025, BKV Upstream Midstream, LLC and the Company entered into a definitive purchase agreement to acquire all of the issued and outstanding equity interests of Bedrock Production, LLC, resulting in the acquisition of Bedrock Energy Partners’ Barnett Shale assets in a transaction valued at approximately $370 million, subject to adjustments and customary closing conditions (the “Bedrock acquisition”).
The Bedrock acquisition estimated to include approximately 97,000 net acres directly offsetting BKV’s existing acreage, midstream assets, and ~108 MMcfe/d of production1 (approximately 63% natural gas)
Expected to add:1,121 producing locations with low 1- and 5-year base decline rates of approximately 7%
Nearly 1 Tcfe of 1P reserves (>70% PDP) using NYMEX strip pricing
~50 new drill locations with an equivalent 10,000 foot lateral length at accretive natural gas price break-evens compared to BKV's existing inventory, in addition to ~80 low-cost refrac locations
Direct offset acreage enables longer laterals, increasing legacy Tier 1 locations
Potential to reduce new asset lease operating expense (LOE) via operational leverage with further cost optimization from scale and shared infrastructure
Purchase price, to be funded upon closing, consists of a combination of cash and a number of shares of BKV common stock valued at up to $110.0 million, or approximately 5.2 million shares (subject to adjustment); cash to be funded from a combination of cash on hand and borrowings under existing RBL capacity
Combined net leverage expected to be at lower end of BKV's 1.0x-1.5x targeted range after giving effect to the Bedrock acquisition
Barclays is serving as financial advisor to BKV
Carbon Sequestered Gas Deal HighlightsSeminal deal for Carbon Sequestered Gas (“CSG”) with Gunvor, a leading commodities trader
Deal provides a commitment for Gunvor to purchase, market, and sell CSG, subject to certain conditions - a differentiated, premium commodity market product supported by BKV’s growing CCUS business
Covers up to 10,000 MMbtu/d
_______________________________________________
1 Estimated average daily production for the Bedrock assets during the three months ended June 30, 2025.
“The second quarter marked another period of advancing our differentiated closed loop strategy, while also performing exceptionally well in each of our base businesses,” said Chris Kalnin, Chief Executive Officer of BKV. “Performance in our upstream business was a significant highlight, where we delivered production well ahead of our plan while keeping our total capital spend at the lower end of our guided range. Improvements in drilling efficiencies helped drive costs lower on a per foot basis, while continuous improvement initiatives in our drilling and completions designs have also led to outperformance versus our sanctioned type curves.”
“After the close of the second quarter, we also successfully expanded our upstream portfolio with the proposed acquisition of Bedrock Energy Partners’ Barnett Shale assets. The acquisition increases our low-declining PDP production base by over 100 MMcfe/d, enhances and extends our inventory in the Barnett Shale by adding nearly 1 Tcfe of proved reserves using NYMEX strip pricing, and aligns well with our strategic position in the Fort Worth Basin. Based on the proposed acquisition price, the deal is expected to be accretive to BKV on a cash flow per share basis in 2026 and is manageable with our existing balance sheet, keeping combined net leverage at the lower end of our 1.0x-1.5x targeted range. The Bedrock acquisition is expected to close by early in the fourth quarter of 2025, subject to customary closing conditions.”
“We are also excited to announce the signing of a seminal deal for Carbon Sequestered Gas with Gunvor, a leading commodities trader. Enabled by BKV’s growing CCUS business, CSG allows end users to utilize around the clock carbon neutral energy that commands a premium in the marketplace.”
Financial Results
Second Quarter 2025
For the three months ended June 30, 2025, total revenues and other operating income for BKV were $322.0 million (including realized hedging gains of $9.3 million) and earnings from BKV-BPP Power, LLC (the “Power JV”) were $9.1 million. Net income attributable to BKV for the period was $104.6 million, or $1.23 per diluted share (including unrealized hedging gains of $102.9 million). For the three months ended June 30, 2025, Adjusted Net Income was $32.8 million, Adjusted EBITDAX was $70.8 million, Combined Adjusted EBITDAX attributable to BKV was $88.2 million, and Adjusted Free Cash Flow attributable to BKV was $2.1 million.
Average realized natural gas price for the second quarter of 2025 was $2.67/MMBtu, excluding the impact of derivatives. Including the impact of cash settled hedges, average realized natural gas price was $2.83/MMBtu. Average realized NGL price for the second quarter of 2025 was $16.42/Bbl, excluding the impact of derivatives. Including the impact of cash settled hedges, average realized NGL price was $16.41/Bbl. On an equivalent basis, average realized price for the second quarter of 2025 was $2.71/Mcfe, excluding the impact of derivatives. Including the impact of cash settled hedges, average equivalent realized price was $2.83/Mcfe.
Year-to-Date 2025
For the six months ended June 30, 2025, total revenues and other operating income for BKV were $400.9 million (including realized hedging losses of $8.9 million), and losses from the Power JV were $0.5 million. Net income attributable to BKV for the period was $25.9 million, or $0.30 per diluted share (including unrealized hedging losses of $31.1 million). For the six months ended June 30, 2025, Adjusted Net Income was $60.4 million, Adjusted EBITDAX was $161.7 million, Combined Adjusted EBITDAX attributable to BKV was $188.9 million, and Adjusted Free Cash Flow attributable to BKV was $8.2 million.
Average realized natural gas price for the six months ended June 30, 2025 was $2.88/MMBtu, excluding the impact of derivatives. Including the impact of cash settled hedges, average realized natural gas price was $2.84/MMBtu. Average realized NGL price for the six months ended June 30, 2025 was $17.70/Bbl, excluding the impact of derivatives. Including the impact of cash settled hedges, average realized NGL price was $16.64/Bbl. On an equivalent basis, average realized price for the six months ended June 30, 2025 was $2.92/Mcfe, excluding the impact of derivatives. Including the impact of cash settled hedges, average equivalent realized price was $2.86/Mcfe.
Three Months Ended June 30,
Six Months Ended June 30,
($ Millions, except EPS and Adjusted Free Cash Flow Margin)(1)
2025
2024
2025
2024
Net income (loss) attributable to BKV
$
104.6
$
(59.7
)
$
25.9
$ (98.3
)
Adjusted Net Income (Loss), non-GAAP
$
32.8
$
(22.8
)
$
60.4
$ (39.3
)
Adjusted EBITDAX, non-GAAP
$
70.8
$
61.7
$
161.7
$
108.8
Combined Adjusted EBITDAX attributable to BKV, non-GAAP
$
88.2
$
74.8
$
188.9
$
132.2
Net income (loss) per common share attributable to BKV, diluted
$
1.23
$
(0.90
)
$
0.30
$ (1.48
)
Adjusted EPS, non-GAAP
$
0.39
$
(0.34
)
$
0.71
$ (0.59
)
Adjusted Free Cash Flow attributable to BKV, non-GAAP
$
2.1
$
19.3
$
8.2
$
66.6
Adjusted Free Cash Flow Margin attributable to BKV, non-GAAP
1.0
%
13.4
%
1.9
%
22.2
%
Net income (loss)
$
104.7
$
(59.7
)
$
26.1
$ (98.3
)
Net cash provided by operating activities
$
76.2
$
(9.5
)
$
98.8
$
9.8
Adjusted Free Cash Flow, non-GAAP
$
(1.9
)
$
19.3
$
4.2
$
66.6
Adjusted Free Cash Flow Margin, non-GAAP
(0.9
)%
13.4
%
0.9
%
22.2
%
Earnings (losses) from the Power JV
$
9.1
$
(15.3
)
$
(0.5
)
$ (23.0
)
Capital expenditures (accrued)
Development (2)
$
62.6
$
11.6
$
110.4
$
24.7
CCUS and other
$
16.2
$
3.3
$
26.4
$
8.2
Total capital expenditures (accrued)
$
78.8
$
14.9
$
136.8
$
32.9
____________________________________________________
(1) Adjusted Net Income (Loss), Adjusted EBITDAX, Combined Adjusted EBITDAX attributable to BKV, Adjusted EPS, Adjusted Free Cash Flow, Adjusted Free Cash Flow Margin, Adjusted Free Cash Flow attributable to BKV, and Adjusted Free Cash Flow Margin attributable to BKV are each non-GAAP financial measures. For a definition of each of these non-GAAP financial measures and reconciliations of such non-GAAP financial measures to their most directly comparable GAAP metrics, please see “Supplemental Non-GAAP Financial Measures” below.
(2) Excludes asset retirement obligation expenditures of $0.5 million and $0.6 million for the three and six months ended June 30, 2025, respectively.
BKV-BPP Power’s Income Statement (1)
Three Months Ended June 30,
Six Months Ended June 30,
($ Millions)
2025
2024
2025
2024
Total revenues, net
$
136.7
$
86.8
$
234.4
$
171.8
Depreciation and amortization
9.6
9.1
19.2
19.0
Operating expenses
94.6
90.3
188.7
163.6
Income (loss) from operations
32.5
(12.6
)
26.5
(10.8
)
Interest expense
(15.9
)
(18.7
)
(32.0
)
(36.9
)
Other income
1.5
0.8
4.5
1.8
Net income (loss)
$
18.1
$
(30.5
)
$
(1.0
)
$
(45.9
)
Power JV Adjusted EBITDA
$
35.5
$
26.3
$
55.1
$
46.8
_____________________________________________________
(1) This table reflects the financial information of the Power JV. Amounts are obtained from and based on the Power JV’s unaudited financial statements for the three and six months ended June 30, 2025 and 2024, as applicable. BKV owns a 50% interest in the Power JV.
“Our second quarter results maintained our strong first quarter momentum with continued execution across the organization,” said David Tameron, BKV’s Chief Financial Officer. “We had another quarter of strong financial discipline, with Adjusted Free Cash Flow from our upstream business fully funding our growth initiatives in CCUS and Power. While natural gas prices remain volatile, our low base decline, structured hedging strategy, and continued improvements in capital efficiency position us to maintain a steady investment program that we believe will enable us to take advantage of the currently strong macroeconomic backdrop for natural gas, power, and CCUS. The core of our value proposition to our investors remains the same – deliver a differentiated platform to take advantage of the asymmetric upside of our assets.”
Operational Results - Second Quarter 2025 and Year-to-Date 2025
Power JV
For the second quarter 2025, the Temple I and II power plants (the “Temple Plants”) reported a capacity factor of 64.0% and 54.8%, respectively, with total power generation of 1,913 GWh. Average power pricing was $46.34/MWh and the average natural gas cost was $2.98/MMBtu, resulting in an average spark spread of $25.15/MWh.
In the second quarter of 2025, spark spreads improved compared to the first quarter of 2025, driven largely by typical seasonal dynamics in ERCOT. In addition to improved pricing dynamics, the Temple Plants operated at a higher capacity factor quarter-over-quarter, with limited unplanned downtime as they continued to serve strong regional load.
BKV’s implied proportionate share of Power JV net earnings for the three months ended June 30, 2025 was $9.1 million, compared to a loss of $15.3 million for the three months ended June 30, 2024, and for the six months ended June 30, 2025, a loss of $0.5 million compared to a loss of $23.0 million for the six months ended June 30, 2024.
BKV’s implied proportionate share of Power JV Adjusted EBITDA was $17.7 million for the three months ended June 30, 2025 compared to $13.1 million for the three months ended June 30, 2024, and $27.5 million for the six months ended June 30, 2025 compared to $23.4 million for the six months ended June 30, 2024. Power JV Adjusted EBITDA exceeded the high end of the guidance range for the quarter, primarily driven by advantaged weather and pricing late in the quarter.
Given the strong outlook for load growth in the ERCOT market, BKV continues to see significant growth potential in its Power JV. The Company remains engaged with a number of potential counterparties in its efforts to improve both capacity factors and realized spark spreads for its Temple Plants and is optimistic about long-term demand trends in the ERCOT market, supported by the accelerating adoption of AI technologies and the ongoing expansion of the data center sector.
Three Months Ended June 30,
Six Months Ended June 30,
2025
2024
2025
2024
Temple I capacity factor
64.0
%
67.8
%
54.7
%
57.5
%
Temple II capacity factor
54.8
%
62.4
%
54.5
%
58.7
%
Total power generation (GWh)
1,913
2,107
3,500
3,764
Average power price (MWh)
$
46.34
$
36.45
$
50.05
$
39.58
Average natural gas cost
$
2.98
$
1.98
$
3.46
$
2.29
Average spark spread
$
25.15
$
22.38
$
25.50
$
23.29
Carbon Capture Utilization and Sequestration (“CCUS”)
During the quarter, BKV entered into the previously disclosed strategic joint venture (the “CCUS JV”) between its wholly-owned subsidiary, BKV dCarbon Ventures, C Squared Solutions, Inc., a subsidiary of the CI Energy Transition Fund (“CIP Energy Transition Fund”) managed by CIP, and for the limited purposes in the Limited Liability Company Agreement of BKV dCarbon Project, LLC (the “CCUS JV Agreement”), BKV, to develop CCUS projects. The CCUS JV received its initial contributions from BKV and CIP in accordance with the CCUS JV Agreement in the three months ended June 30, 2025. Per the CCUS JV Agreement, BKV contributed to the CCUS JV its ownership of the Barnett Zero and Eagle Ford projects, and has committed to future contributions of certain CCUS projects, related assets, and/or cash in exchange for a 51% interest in the CCUS JV, and CIP Energy Transition Fund has committed up to $500 million for use by the CCUS JV in constructing and operating new CCUS projects across the United States in exchange for no more than a 49% interest in the CCUS JV. This commitment may be increased to $1 billion upon mutual agreement of the parties. Subject to certain exceptions, BKV intends to develop its CCUS projects exclusively through the CCUS JV.
Barnett Zero Project sequestered approximately 30,400 and 69,300 metric tons of CO2 equivalent during the three and six months ended June 30, 2025, respectively. The Barnett Zero Project has sequestered approximately 242,500 metric tons of CO2 equivalent since project start up in November 2023 through June 30, 2025.
Regarding ongoing permitting processes, BKV has now submitted seven Class VI injection well permit applications in relation to advancing and maturing its existing project pipeline. The Company has also now received approval from the EPA for the measurement, reporting, and verification (MRV) plans on both the Cotton Cove and Eagle Ford projects, which are key milestones in moving these projects toward their targeted in-service dates.
On July 21, 2025, BKV announced the execution of an agreement with a leading diversified midstream energy company to develop a new carbon capture and sequestration project at a currently operating natural gas processing plant in East Texas. Under the terms of the agreement, BKV forecasts that approximately 70,000 metric tons per year of CO2 equivalent could be captured at the plant. The agreement expands on a previously announced agreement between the companies to develop a separate CCUS project at a location in South Texas.
The Eagle Ford project remains on track for first injection in the first quarter of 2026, subject to receipt of all required permits. The project is forecast to achieve an average sequestration rate of approximately 90,000 metric tons per year of CO2 equivalent.
BKV’s Cotton Cove project remains on track for first injection in the first half of 2026, subject to the receipt of all required permits. The project is forecast to achieve an average sequestration rate of approximately 32,000 metric tons per year of CO2 equivalent.
Upstream & Midstream
Total hydrocarbon production for the three months ended June 30, 2025 was 811.0 MMcfe/d, which consisted of 79% natural gas and 21% NGLs. This compares to total production for the three months ended June 30, 2024 of 794.2 MMcfe/d, which consisted of 79% natural gas and 21% NGLs. Total hydrocarbon production for the six months ended June 30, 2025 was 786.2 MMcfe/d, which consisted of 79% natural gas and 21% NGLs. This compares to total production for the six months ended June 30, 2024 of 807.6 MMcfe/d, which consisted of 80% natural gas and 20% NGLs. Second quarter production exceeded the previously guided range of 775-805 MMcfe/d for the quarter due to several factors, including better than forecasted well performance on new development, effective base decline management, and accelerated pace of new development.
The increase in production volumes for the second quarter compared to the same period in 2024 follows the increase in BKV’s development program on a year-on-year basis, which more than offset base production declines during that period. Notably, the increase also includes the net impacts of the sale of the Company’s non-operated upstream assets in the Marcellus Shale in Northeastern Pennsylvania late in the second quarter of 2024. The three and six months ended June 30, 2024 results included volumes of approximately 26 MMcfe/d and 28 MMcfe/d, respectively, that were sold in the transaction.
A major highlight for BKV’s Upstream & Midstream unit is the announcement of the entry into a definitive agreement to acquire all of the issued and outstanding equity interests of Bedrock Production, LLC, resulting in the acquisition of Bedrock Production, LLC and Bedrock Energy Partners’ Barnett Shale assets for $370.0 million, subject to customary purchase price adjustments. Through the proposed transaction, BKV will acquire approximately 97,000 net acres, ~108 MMcfe/d of production as of second quarter 2025 (approximately 63% natural gas), 1,121 producing locations, nearly 1 Tcfe of 1P reserves (>70% PDP) using NYMEX strip pricing, and ~50 new drill locations at an equivalent 10,000 foot lateral length with accretive natural gas price break-evens compared to the Company’s existing inventory, in addition to ~80 refrac locations.
This acquisition is a strategic fit for BKV as it extends the Company’s lead as the largest producer in the Barnett, while also improving and extending its existing inventory of both proved and unproved resources. The assets maintain BKV’s low base decline with 1- and 5-year base decline rates of approximately 7%, while the direct offset nature of the acreage also enables longer laterals, increasing legacy Tier 1 locations. In addition, BKV sees substantial optimization opportunities on the new assets, including the ability to reduce its lease operating expenses through operational leverage as well as further cost optimization from scale and shared infrastructure.
The purchase price is expected to be funded, upon closing, with up to $110.0 million of BKV common stock (subject to adjustment), and subject to a 60-day lock-up provision, and BKV’s existing reserve-based lending agreement (“RBL”) capacity. On a combined basis and taking into account the expected borrowings associated with the cash portion of the acquisition, the Company expects its updated net leverage ratio to be at the lower end of BKV’s 1.0-1.5x targeted range. The Bedrock acquisition is expected to close late in the third quarter or early in the fourth quarter of 2025, subject to customary closing conditions.
Three Months Ended June 30,
Six Months Ended June 30,
2025
2024
2025
2024
Production
Net production per day (MMcfe/d)
811.0
794.2
786.2
807.6
Natural gas (MMcf)
58,328
57,113
112,451
116,756
NGL (MBbls)
2,535
2,502
4,877
4,987
Oil (MBbls)
44
24
97
52
Total (MMcfe)
73,802
72,269
142,295
146,990
Natural Gas ($/Mcf)
Average NYMEX Henry Hub price
$
3.44
$
1.94
$
3.55
$
2.07
Differential
$
(0.77
)
$
(0.49
)
$
(0.67
)
$
(0.54
)
Average realized prices, excluding derivatives
$
2.67
$
1.45
$
2.88
$
1.53
Average realized prices, including derivatives (1)
$
2.83
$
1.98
$
2.84
$
1.99
NGLs ($/Bbl)
Average realized prices, excluding derivatives
$
16.42
$
16.47
$
17.70
$
16.97
Average realized prices, including derivatives (1)
$
16.41
$
16.93
$
16.64
$
17.21
Oil ($/Bbl)
Average realized prices
$
57.66
$
74.92
$
61.82
$
71.81
Average Operating Cash Costs per Mcfe
Lease operating and workover
$
0.46
$
0.48
$
0.49
$
0.46
Taxes other than income
$
0.18
$
0.14
$
0.17
$
0.14
Gathering and transportation costs
$
0.85
$
0.74
$
0.84
$
0.77
Total
$
1.49
$
1.36
$
1.50
$
1.37
(1) The impact of derivative prices excludes $13.3 million of gains on derivative contract terminations for the six months ended June 30, 2024.
Capital Expenditures
Accrued capital expenditures in the second quarter of 2025 were $78.8 million, which included $62.6 million for development capital and $16.2 million for CCUS and other expenditures. Accrued capital expenditures for the same period in 2024 were $14.9 million, which included $11.6 million for development capital and $3.3 million for CCUS and other expenditures.
Year-to-date accrued capital expenditures for 2025 were $136.8 million, which included $110.4 million for development capital and $26.4 million for CCUS and other expenditures. Accrued capital expenditures for the same period in 2024 were $32.9 million, which included $24.7 million for development capital and $8.2 million for CCUS and other expenditures.
Liquidity
As of June 30, 2025, BKV had cash and cash equivalents of $21.4 million.
Total debt as of June 30, 2025 was $200.0 million, which was made up solely of the amount outstanding under the Company’s RBL. Net debt as of June 30, 2025 was $178.6 million, and net leverage ratio was 0.63x. BKV’s long-term net leverage target is to manage between 1.0x to 1.5x.
As of June 30, 2025, total liquidity for BKV was $472.3 million, which consists of $21.4 million in cash and cash equivalents and $450.9 million available under the Company’s RBL. RBL availability as of June 30, 2025, is based on the elected commitment amount of $665.0 million, less $200.0 million of draws, and $14.1 million of letters of credit. On May 6, 2025, BKV Upstream Midstream amended the RBL to increase the borrowing base by $100.0 million and the elected commitment amount by $65.0 million. As of August 12, 2025, $282.0 million of revolving borrowings and $14.1 million of letters of credit were outstanding under the RBL, leaving $368.9 million of available capacity thereunder for future borrowings and letters of credit.
2025 Guidance
Accrued Capital Expenditures and Net Production ($ Millions)
Q3 2025
FY 2025
Development
$50 - $70
$205 - $235
CCUS and other
$15 - $35
$85 - $115
Total capital expenditures
$65 - $105
$290 - $350
Net production (MMcfe/d)
805 - 835
790 - 810
Per Unit Operating Costs ($/Mcfe)
Lease operating and workover
$0.46 - $0.50
$0.48 - $0.52
Gathering and transportation
$0.83 - $0.87
$0.82 - $0.86
General and administrative (excl. stock comp)
$0.34 - $0.37
$0.32 - $0.35
General and administrative (stock comp)
$0.05 - $0.06
$0.06 - $0.07
Natural Gas Price ($/Mcfe)
Average differential
$(0.60) - $(0.70)
$(0.50) - $(0.65)
Power ($ Millions)
Power JV Adjusted EBITDA
$55 - $75
$130 - $170
Second Quarter 2025 Earnings Conference Call
The Company plans to host a conference call to discuss results today, August 12, 2025 at 10 AM ET. To access the conference call, participants may dial (877) 407-0779 (US) or (201) 389-0914 (international). Participants can also listen to a live webcast of the call by going to the Investors section on the BKV website at
ir.bkv.com. A replay will be available shortly after the live conference call and can be accessed on the Company’s website or by dialing (844) 512-2921 (US) or (412) 317-6671 (international). The passcode for the replay is 13754207. The replay will be available for 60 days after the call.
About BKV Corporation
Headquartered in Denver, Colorado, BKV Corporation is a forward-thinking, growth-driven energy company focused on creating value for its stockholders. BKV's core business is to produce natural gas from its owned and operated upstream assets. BKV’s overall business is organized into four business lines: natural gas production; natural gas gathering, processing and transportation; power generation; and carbon capture, utilization and sequestration. BKV (and its predecessor entity) was founded in 2015, and BKV and its employees are committed to building a different kind of energy company. BKV is 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. BKV Corporation is the parent company for the BKV family of companies. For more information, visit the BKV website at
www.bkv.com.
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