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Banpu Kalnin Ventures (BKV)

Company Summary

Description

JV between Banpu and Kalnin with acquired Devon's Barnett Shale assets in 2020.

Operational Regions

  • Barnett Shale

Related Entities

Recent news

  • 7/12/2023 - BKV-BPP Power acquires... (subscriber access)
  • 5/20/2022 - BKV On Other Side of XOM... (subscriber access)
  • 5/19/2022 - ExxonMobil Sells Barnett... (subscriber access)
  • 2/16/2022 - EnLink Seeing BKV... (subscriber access)
  • 11/2/2021 - BKV & Banpu Closes on... (subscriber access)

Company Transactions

Date: 10/15/2021
Type: Acquisition

BUYERS:
  • Banpu Kalnin Ventures (BKV)
    • SELLERS:
  • Temple Generation I LLC
    • ASSETS:
  • Temple Generation Gas Power Plant
    • DETAILS:

    COST: 430 $MM

    VOLUMES: 758 MW

    NOTES:
    BKV Corp. has executed a deal with Temple Generation to acquire a 758-MW gas power plant for $430 million. Closing is targeted for the fourth quarter of 2021. The strategy by BKV is to build out a full chain of gas assets, from wellhead to power plant, with BKV CEO Chris Kalnin citing that the deal "makes us a value-chain energy player." They are also now looking into potential solar expansions near the power plant.
    REGIONS:
  • ERCOT

    • Date: 10/1/2020
    Type: Acquisition

    BUYERS:
  • Banpu Kalnin Ventures (BKV)
    • SELLERS:
  • Devon Energy Corporation
    • DETAILS:

    COST: 870 $MM

    VOLUMES: 597 Mmcf/d

    NOTES:
    Devon announced that their deal to divest Barnett assets to Banpu Kalnin Ventures has been accelerated from the prior date of December 31, 2020, to a new closing target of October 1, 2020. Devon is expecting a cash payment of >$300 million upon close, with future contingent payments of up to $260 million starting on January 1, 2020 and extending for four years. Those contingent payments hinge on upside commodity prices of $2.75 Henry Hub or $50 WTI. They will be earned and paid annually.
    REGIONS:
  • Barnett Shale