BKV Spends $370M to Expand Barnett Shale Holding

SECAUCUS, NJ (DTN) – BKV Corp has completed its acquisition of assets from Bedrock Energy Partners for approximately $370 million, expanding its natural gas footprint in the Barnett Shale.

The deal involved the acquisition of all outstanding equity interests of Bedrock Production, along with 97,000 net acres directly offsetting BKV’s current assets, plus associated midstream infrastructure, the company said in a statement on Monday (9/29).

The acquired assets contribute approximately 108 Mcfed of production, according to figures for the quarter ending June 30, 2025. This production is roughly 63% natural gas.

Combining the complementary assets with BKV’s existing infrastructure solidifies the company’s position as the basin’s “dominant operator” and is expected to “create substantial value for our shareholders,” according to BKV CEO Chris Kalnin.

The new acreage includes 1,121 producing locations and an estimated 800 Bcfe of proved reserves, based on NYMEX strip pricing as of June 30, 2025. A key attraction is the low estimated one- and five-year base decline rates of approximately 7%.

Further boosting BKV’s development pipeline, the acquisition adds about 50 new drilling locations with 10,000-foot lateral equivalents. These new wells are projected to have accretive natural gas price break-evens compared to BKV’s existing inventory. The deal also includes 80 low-cost refrac locations for future development.

Denver-based BKV is one of the top 20 gas-weighted natural gas producers in the U.S. and the largest natural gas producer by gross operated volume in the Barnett Shale, according to the statement.