BKV Corp, a US natural gas producer operating in the Barnett and Marcellus Shale, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
The company engages in the acquisition, operation and development of natural gas and natural gas liquids properties. BKV's operations are in proximity to large demand markets, namely along the Gulf Coast and Northeast corridor. As of September 30, 2022, the company's total acreage position was approximately 505,000 net acres, and the company's daily production averaged 864 MMcfe. The company has total proved reserves of 6,332 Bcfe, and states it has more than more than 10 years of core inventory remaining.
The Denver, CO-based company was founded in 2015 and booked $953 million in revenue for the 12 months ended September 30, 2022. It plans to list on the NYSE under the symbol BKV. BKV Corp filed confidentially on August 12, 2022. Credit Suisse, BofA Securities, Barclays, Citi, Evercore ISI, and Jefferies are the joint bookrunners on the deal. No pricing terms were disclosed.
