- Acquisition of Barnett Shale upstream, midstream, and CCS assets, expanding the U.S. Closed-Loop Gas platform, adding over 65 MMcfe/d of low-decline production, ~0.35 Tcfe of PDP reserves, ~117,000 net acres, ~1,000 gross operated wells, operated midstream infrastructure, and a CCS project.
Banpu Public Company Limited, a leading versatile energy company, announced that BKV Corporation (BKV), its majority-owned energy company in the U.S., has completed the acquisition of certain Barnett Shale upstream, midstream and carbon capture and sequestration (CCS) assets. The transaction further strengthens BKV’s position in the Barnett Shale and advances Banpu Group’s U.S. Closed-Loop Gas business pillar, one of the Group’s key growth engines under its Energy Symphonics strategy.
The acquired assets include over 65 million cubic feet equivalent per day (MMcfe/d) of production, more than 50% of which is liquids, with a low proved developed producing (PDP) decline rate, approximately 0.35 trillion cubic feet equivalent (Tcfe) of PDP reserves, approximately 117,000 net acres primarily in Montague County, Texas, U.S., and approximately 1,000 gross operated wells. The acquired assets also include an operated CCS project that has captured over 100,000 metric tons of CO2 over the trailing twelve months through the first quarter of 2026, including an operated CO₂ pipeline and injection well, as well as operated midstream infrastructure including a gas processing plant with 180 MMcf/d of capacity, approximately 340 miles of owned gas gathering lines, approximately 225 miles of owned water gathering system, and two saltwater disposal wells.
Mr. Sinon Vongkusolkit, Chief Executive Officer of Banpu Public Company Limited, said, “The completion of this acquisition marks another meaningful step in the continued growth of Banpu Group’s U.S. Closed-Loop Gas platform. By building on BKV’s established leadership position in the Barnett Shale and expanding its scale across natural gas, midstream and carbon capture, we are strengthening the foundation of a business platform designed to serve growing energy demand for reliable and flexible energy while creating sustainable long-term value. Our focus remains on disciplined growth, leveraging the capabilities and assets we have built in the U.S. market over time, and continuing to capture opportunities where we can create value through scale, operational capabilities and our closed-loop approach.”
With the acquisition, BKV reinforces its position as the largest natural gas producer by gross operated volume in the Barnett Shale and solidifies its standing among the top 15 gas-weighted natural gas producers in the U.S. The transaction advances BKV’s established presence in the U.S. market and further scaling its closed-loop gas platform across natural gas production, midstream infrastructure, power generation and CCS. The transaction was funded through cash on hand and borrowings under BKV’s revolving credit facility.
For more information, please visit: www.banpu.com and https://www.facebook.com/Banpuofficialth
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About Banpu
Banpu Public Company Limited is a leading versatile energy company, operating across four business pillars under its Energy Symphonics Strategy: U.S. Closed-Loop Gas, Next-Gen Mining, Power+, and Future Tech – with operations across Asia Pacific and the United States. Banpu is committed to expanding the world’s energy capacity through reliable and responsible energy solutions that move the world toward a better future. For more information, visit www.banpu.com.
