
BKV Corp.'s Barnett Shale operations in Wise County, Texas. BKV has positioned itself as an LNG supplier near Gulf Coast markets with production averaging 718 MMcfe/d across about 460,000 Barnett acres, supported by 778 miles of associated gas gathering pipelines and 65 compression units. (Source: BKV Corp.)
Natural gas E&P BKV Corp., with operations centered in the Barnett Shale, has launched its long delayed IPO for 15 million shares, the company said on Sept. 16.
The company, the Barnett’s largest producer of natural gas and condensates, said it expects to price its IPO at between $19 to $21 per share, with proceeds ranging between $285 million to $315 million.
The offering is on the IPO calendar to begin trading Sept. 26, according to the Edgar Online service.
BKV has positioned itself as an LNG supplier near Gulf Coast markets with production averaging 718 MMcfe/d across about 460,000 Barnett acres, supported by 778 miles of associated gas gathering pipelines and 65 compression units. The company also owns an amine gas processing unit.

The company has also focused on carbon capture and sequestration, with plans to reach net zero carbon emissions by the 2030s. In June the company announced a deal to provide carbon sequestered gas at a premium to Henry Hub prices.
BKV, which also holds Marcellus Shale producing assets, first filed for paperwork for a public offering with the Securities and Exchange Commission in November 2022, but natural gas prices have trended from bad to abysmal since. Henry Hub spot prices in November 2022 averaged $5.45/MMBtu, according to the U.S. Energy Information Administration. Last month, prices averaged $1.98/MMBtu.
BKV has positioned itself as a source for LNG, noting that its operations are about 300 miles from major Gulf Coast industrial centers and export markets.
BKV said its underwriters will have a 30-day option to purchase an additional 2.25 million shares from the company at its initial IPO price, less underwriting discounts and commissions.
Company shares have been approved for listing on the New York Stock Exchange under the ticker symbol “BKV.”
Citigroup and Barclays are acting as lead book-running managers for the offering. Evercore ISI, Jefferies and Mizuho are acting as joint book-running managers. KeyBanc Capital Markets, Susquehanna Financial Group, LLP, TPH&Co., the energy business of Perella Weinberg Partners, and Truist Securities are acting as senior co-managers. Citizens JMP and SMBC Nikko are acting as co-managers for the offering.
RELATED
Recommended Reading
The Private Equity Puzzle: Rebuilding Portfolios After M&A Craze
2025-01-28 - In the Haynesville, Delaware and Utica, Post Oak Energy Capital is supporting companies determined to make a profitable footprint.
Utica’s Infinity Natural Resources Seeks $1.2B Valuation with IPO
2025-01-21 - Appalachian Basin oil and gas producer Infinity Natural Resources plans to sell 13.25 million shares at a public purchase price between $18 and $21 per share—the latest in a flurry of energy-focused IPOs.
Utica Oil’s Infinity IPO Values its Play at $48,000 per Boe/d
2025-01-30 - Private-equity-backed Infinity Natural Resources’ IPO pricing on Jan. 30 gives a first look into market valuation for Ohio’s new tight-oil Utica play. Public trading is to begin the morning of Jan. 31.
Utica’s Encino Adds Former Marathon Director to Board
2024-12-16 - Brent J. Smolik, who most recently served on Marathon Oil’s board until its merger with ConocoPhillips, will join Encino Acquisition Partners as a director.
Artificial Lift Firm Flowco’s Stock Surges 23% in First-Day Trading
2025-01-22 - Shares for artificial lift specialist Flowco Holdings spiked 23% in their first day of trading. Flowco CEO Joe Bob Edwards told Hart Energy that the durability of artificial lift and production optimization stands out in the OFS space.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.