BKV Completes Acquisition of Barnett Shale Upstream, Midstream, and Carbon Capture Assets

Acquisition of low-decline production, reserves, midstream and an operated carbon capture project strengthens BKV's leading position in the Barnett Shale

Over 65 MMcfe/d of production and ~0.35 Tcfe of proved developed producing (“PDP”) reserves

Approximately 117,000 net acres and ~1,000 gross operated wells with a low PDP decline rate

Includes operated midstream infrastructure and an operated carbon capture and sequestration (“CCS”) project

DENVER--(BUSINESS WIRE)--BKV Corporation (“BKV” or the “Company”) (NYSE: BKV) today announced it has completed the acquisition of certain Barnett Shale upstream, midstream and CCS assets. Terms of the transaction were not disclosed.

The acquisition further advances BKV’s closed-loop energy strategy by expanding BKV’s operational footprint and production capacity with additional high-quality, low-decline Barnett Shale assets that complement the Company’s existing operations and infrastructure. The assets strengthen BKV’s platform across natural gas upstream, midstream and carbon capture, while reinforcing its leadership position in the Barnett Shale. The transaction is expected to enhance operational and capital efficiencies through greater scale and shared infrastructure, while expanding BKV’s Barnett gas volumes available to serve demand centers in Dallas-Fort Worth and the Gulf Coast.

“These assets are a strong operational fit for BKV, and the acquisition builds on our disciplined approach to strengthening our position in the Barnett, adding low-decline production and reserves that integrate seamlessly with our existing operations and infrastructure,” said Chris Kalnin, Chief Executive Officer of BKV Corporation. “By acquiring high-quality assets at an attractive value and further integrating upstream, midstream and carbon capture in a basin where we are already the leader, we are creating additional scale and long-term value for our shareholders.”

Transaction Highlights:

• Over 65 MMcfe/d of production, more than 50% of which is liquids, with a low PDP decline rate
• Approximately 0.35 Tcfe of PDP reserves
• Approximately 117,000 net acres, primarily in Montague County
• Approximately 1,000 gross operated wells
• 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, from three compressors and a gas plant, including an operated CO2 pipeline and injection well
• Operated midstream, including a gas plant with 180 MMcf/d of capacity and approximately 340 miles of owned gas gathering lines, plus approximately 225 miles of owned water gathering system and two saltwater disposal wells

Transaction Details
The acquisition closed on September 15, 2026, following the satisfaction of customary closing conditions. The transaction was funded through cash on hand and borrowings under the Company’s revolving credit facility.

About BKV Corporation
BKV Corporation (NYSE: BKV) is a forward-thinking, growth-driven energy company focused on the sustainable development and delivery of low-carbon energy solutions and baseload power. As the largest natural gas producer by gross operated volume in the Barnett Shale, BKV is strategically expanding an end-to-end value chain that leverages its assets in upstream production, midstream infrastructure, natural gas-fired power generation and carbon capture, utilization and storage (CCUS). Through this innovative, closed-loop approach, BKV solves customers’ toughest energy challenges, meeting growing power demand and enabling sustainable growth for the future. Headquartered in Denver, Colorado, BKV is committed to driving long-term, risk adjusted shareholder value by optimizing and scaling our closed-loop energy platform for a carbon neutral future. For more information, visit the BKV website at www.bkv.com.

Forward-Looking Statements
The information in this press release includes “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements, which are not historical facts, include, but are not limited to, statements regarding BKV’s ability to successfully integrate acquired businesses or assets, the expected benefits of the transaction to BKV, and BKV’s strategy, future operations, prospects, plans and objectives of management, and often contain words such as “expect,” “project,” “estimate,” “believe,” “anticipate,” “intend,” “budget,” “plan,” “seek,” “envision,” “forecast,” “target,” “predict,” “may,” “should,” “would,” “could,” “will,” the negative of these terms and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Forward-looking statements contained in this press release include, but are not limited to, statements regarding the expected benefits of the potential transaction to BKV, the anticipated consummation of the proposed transaction and the timing thereof. Forward-looking statements are based on management’s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict, including but not limited to assumptions, risks and uncertainties regarding our ability to successfully fund, pursue and develop our CCUS business, the expected increase in transaction costs in connection with the transaction and BKV’s ability to achieve the benefits of the transaction. Other factors that could cause actual results to differ from those in forward-looking statements include the demand for power and Power our ability to serve that demand from our power business, and our ability to develop, market and sell our carbon sequestered gas product. As a result, actual results could differ materially from those indicated in these forward-looking statements. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements discussed in BKV’s filings with the United States Securities and Exchange Commission, including the risks and uncertainties addressed under the heading “Risk Factors” in BKV’s most recent Annual Report on Form 10-K and each subsequent Quarterly Reports on Form 10-Q. BKV undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.