BKV Sells Non-Operated PA Marcellus Assets for $132 Million

Over the past seven-plus years, BKV Corporation (Banpu Kalnin Ventures), the American arm of Banpu (96% owned by Banpu, Thailand’s largest coal mining company), has become one of the top 20 gas-weighted natural gas producers in the U.S. BKV originally entered the American shale sector by investing $500 million in 2016-2017 to buy existing Marcellus wells and acreage in northeast Pennsylvania. Then the company went wandering into other shale plays (see Banpu Expands Again – Buys Exxon’s Texas Barnett Assets). In addition to shale drilling, BKV purchased gas-fired power plants in Texas and is now working on a carbon capture project (see Bumpy Financial Road for BKV – Company Bets on Carbon Capture). In April, we told you BKV was shopping its non-operated assets in its Marcellus footprint in six northeastern Pennsylvania counties (see BKV Shopping 214 Nonoperated Shale Wells in 6 NE Pa. Counties). They found a buyer --- actually two buyers.

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