BKV Corporation has completed its $370 million acquisition of Bedrock Energy Partners’ Barnett shale assets, adding 97,000 net acres and 108 MMcfed of production to its portfolio. The deal consolidates BKV’s position as the largest natural gas producer in the Barnett shale, while expanding its drilling and refracturing inventory.
The acquired assets include 1,121 producing locations with low decline rates and an estimated 800 Bcfe of proved reserves. Midstream infrastructure is also part of the package, providing BKV with operational synergies across its existing acreage. The transaction adds roughly 50 new drill locations and 80 refrac candidates, with estimated break-even costs that improve on BKV’s current portfolio.
“This consolidation strengthens our leadership in the Barnett and supports our strategy of disciplined growth in basins where we have existing infrastructure and operational expertise,” said Chris Kalnin, BKV CEO.
The acquisition marks another step in the ongoing consolidation of U.S. shale gas assets, particularly in mature basins like the Barnett, where scale and efficiency are key to long-term development.
