Banpu Public Company Limited (SET: BANPU) has informed the Stock Exchange of Thailand (SET) regarding the completion of BKV’s acquisition of new upstream, midstream, and carbon capture storage assets in Barnett Shale, Texas, USA, with the details as follows:
BANPU stated that BKV Corporation (BKV), a subsidiary of BANPU listed on the New York Stock Exchange (NYSE: BKV), completed the acquisition of certain Barnett Shale upstream, midstream, and carbon capture and storage (CCS) assets on 15th September 2026, following the satisfaction of customary closing conditions. The acquisition was funded through a combination of cash on hand and borrowings under BKV’s revolving credit facility. The transaction value was not disclosed pursuant to the terms of the transaction agreement.
This acquisition adds a high-quality portfolio of production, midstream, and carbon capture assets, further strengthening BKV’s position in the Barnett Shale. The acquired assets include:
- More than 65 MMcf/day of production, over 50% of which is liquids, with a low PDP decline rate
- Approximately 0.35 Tcfe of proved developed producing (PDP) reserves
- Approximately 117,000 net acres, primarily located in Montague County in Texas
- Approximately 1,000 gross operated wells
- An operated CCS project that captured more than 100,000 metric tons of CO₂ per annum, including an operated CO₂ pipeline and injection well
- Operated midstream infrastructure, including a gas processing plant with 180 MMcf/day of capacity, approximately 340 miles of gas gathering pipelines, approximately 225 miles of water gathering systems, and two saltwater disposal wells
The acquisition further advances U.S. closed-loop gas strategy by expanding its operational footprint and production capacity through the addition of high-quality, low-decline Barnett Shale assets that complement and integrate efficiently with its existing operations. The acquired assets strengthen BKV’s integrated platform across natural gas upstream, midstream, and carbon capture businesses, while reinforcing the company’s leadership position in the Barnett Shale. It is also expected to improve operational efficiency through the enhanced utilization of shared infrastructure and operational synergies, while increasing natural gas volumes available to serve the Dallas-Fort Worth and Gulf Coast regions, key markets characterized by strong energy demand and continued growth potential.
BANPU certifies that this investment is not a connected transaction and does not trigger the reporting requirements for the acquisition of assets of listed companies under the Notification of the Capital Market Supervisory Board.
