We are a forward thinking, growth driven energy company focused on creating value for our stockholders through the organic development of our properties as well as accretive acquisitions. Our core business is to produce natural gas from our owned and operated upstream businesses, which we expect to achieve net zero Scope 1 and Scope 2 emissions by the end of 2025. We maintain a “closed-loop” approach to our net zero emissions goal with our four business lines: natural gas production, natural gas gathering, processing and transportation (our “natural gas midstream business”), power generation and carbon capture, utilization and sequestration (“CCUS”). We are committed to building a vertically integrated business to reduce costs and improve overall commercial optimization of the full value chain. For instance, our natural gas production in the Barnett is gathered and transported through our midstream systems, and we are seeking to establish arrangements to supply our natural gas production directly to the BKV-BPP Power Joint Venture. We believe that our differentiated business model, net zero emissions focus, highly experienced management team and technology-driven approach to operating our business will enable us to create stockholder value.
We are engaged in the acquisition, operation and development of natural gas and NGL properties primarily located in the Barnett Shale in the Fort Worth Basin of Texas (the “Barnett”) and in the Marcellus Shale in the Appalachian Basin of Northeastern Pennsylvania (“NEPA”). Our upstream assets are the core of our business and provide us with substantial Adjusted Free Cash Flow, which we expect will be sufficient to fund our capital expenditure program, enhance stockholder value and support future acquisitions across our four business lines while maintaining a conservative balance sheet. We have a balanced portfolio of low decline producing properties and undeveloped inventory, primarily in the Barnett. Additionally, our focus on operational efficiencies, access to BKV-owned and third-party midstream systems, and proximity to natural gas demand markets along the Gulf Coast and Northeast corridor allow us to generate high margins.
As of September 30, 2022, our total acreage position was approximately 505,000 net acres, 99% of which was held by production. As of September 30, 2022, our net daily production (after giving effect to the Exxon Barnett Acquisition) averaged 864 MMcfe/d, consisting of approximately 79% natural gas and approximately 21% NGLs.
**Note: Revenue and net loss figures are for the 12 months that ended Sept. 30, 2022.
(Note: BKV Corp. filed its S-1 on Nov. 18, 2022; it submitted confidential IPO documents to the SEC on Aug. 12, 2022.)
|Industry:||CRUDE PETROLEUM & NATURAL GAS|
|Address||1200 17th Street, Suite 2100 Denver, Colorado 80202|
|Phone Number||(720) 375-9680|
|View Prospectus:||BKV Corp.|
|Revenues||$953.0 mil (last 12 months)|
|Net Income||$-51.1 mil (last 12 months)|
|Price range||$0.00 - $0.00|
|Est. $ Volume||$100.0 mil|
|Manager / Joint Managers||Credit Suisse/ BofA Securities/ Barclays/ Citigroup/ Evercore ISI / Jefferies|
|CO-Managers||TPH&Co. / Susquehanna Financial Group/ SMBC Nikko|
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