BKV Corporation
BKV Corporation is an integrated US natural gas energy company that combines Barnett and Marcellus shale production with midstream infrastructure, 1.5 GW of ERCOT power generation, and carbon capture and sequestration, serving utilities, AI data centers, industrial users, and ~60,000 Texas retail customers.
- Company typePublic
- Founded1978
- HeadquartersDenver, United States
- Headcount251–500
- GTM typeB2B
- OfferingServices
What BKV Corporation does
BKV Corporation is a Denver-headquartered, publicly traded (NYSE: BKV) integrated natural gas energy company built on a 'closed-loop' platform that spans upstream production, midstream gathering and processing, power generation, and carbon capture and sequestration (CCUS). The company operates one of the top 20 gas-weighted natural gas producers in the United States, with 544,000+ net acres and 6,614 producing wells in the Barnett Shale (North Texas) and 19,100+ net acres and 414 producing wells in the Marcellus Shale (Pennsylvania), supported by 1,086 miles of gas gathering pipelines, 61 midstream compression units, and an amine processing unit. Average production in 2025 was 835.5 MMcfe/d, exiting Q4 2025 at 939.7 MMcfe/d.
BKV generates revenue across four interlocking business lines. Upstream production of natural gas and NGLs is sold to utilities and into Henry Hub-linked markets. Power generation is delivered through a 75%-owned joint venture (BKV-BPP Power, LLC) operating the Temple I (~752 MW) and Temple II (~747 MW) combined-cycle gas turbine plants in ERCOT's North Zone, with BKV Energy retailing electricity to approximately 60,000 Texas residential customers. CCUS operations are housed within dCarbon Ventures, anchored by the Barnett Zero facility (Class II well operational since November 2023, ~185,000 metric tons CO2e/year capacity) and the Cotton Cove JV, with a stated 1.5 million tons per annum injection target by 2028. A differentiated Carbon Sequestered Gas (CSG) product bundles Responsibly Sourced Gas with verified CCS credits via blockchain-logged certificates, with the first commercial sale completed to Kiewit Corporation.
The company was founded in June 2015 by Chris Kalnin, completed its NYSE IPO in September 2024, and is majority-owned by Banpu North America Corporation (a subsidiary of Thailand's Banpu Public Company Limited). FY2025 revenue was $1.01 billion with $173.1 million in net income and $390 million in adjusted EBITDA (+47% YoY); Q4 2025 revenue grew 175% YoY. Strategic capital deployment in the trailing twelve months includes the $370 million Bedrock Energy Partners acquisition (Barnett consolidation), the increase in BKV-BPP Power ownership to 75%, and a $500 million CCUS joint investment commitment from Copenhagen Infrastructure Partners. Net leverage sits at 0.9x with 2026 capex guidance of $410-560 million.
BKV Corporation firmographics
Firmographics- Name
- BKV Corporation
- Legal name
- BKV Corporation
- Website
- https://bkv.com/
- Company type
- Public
- Founded year
- 1978
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- BKV Corporation is an integrated US natural gas energy company that combines Barnett and Marcellus shale production with midstream infrastructure, 1.5 GW of ERCOT power generation, and carbon capture and sequestration, serving utilities, AI data centers, industrial users, and ~60,000 Texas retail customers.
- Ownership category
- akta.pro rank
BKV Corporation industry classification
Industry- Product category
- Integrated Natural Gas and Power Generation
- NAICS
- Natural Gas Extraction (21113), Pipeline Transportation of Natural Gas (48621), Natural Gas Distribution (22121)
- SIC
- Crude Petroleum & Natural Gas (1311), Natural Gas Distribution (4924), Natural Gas Transmisison & Distribution (4923)
- akta.pro primary industry
- Gas-to-Power Project Development (IPP/CPP, Permitting, Financing) (EUALALAC)
- akta.pro secondary industries
- Captive & Embedded Gas-Fired Power Generation (Industrial/Commercial CHP) (EUALALAB), Gas Distribution Operations (Day-to-Day Field & System Operations) (EUAJAAAB), Carbon Auctions & Tender Management (Buyer/Seller Programs, RFPs) (EUABADAH), Aggregator/Brokered Natural Gas Sales (Brokers, Marketers, Aggregators) (EUAAADAF)
Keywords
Where BKV Corporation is headquartered
LocationHeadquarters
- HQ city
- Denver
- HQ country
- United States
- HQ region
- North America
Offices6 records
Markets served
BKV Corporation business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Supply Chain, Personnel, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Natural Gas Production (Upstream): Revenue from producing and selling natural gas and natural gas liquids from the Barnett Shale (Texas) and Marcellus Shale (Pennsylvania). Average production of approximately 835-940 MMcfe/d. Diversified production stream including natural gas, NGLs, and condensates.
- Power Generation: Revenue from electricity generation through the Temple I and Temple II combined-cycle power plants (~1,500 MW total capacity) serving the ERCOT market. BKV holds 75% equity interest in BKV-BPP Power, LLC. Also includes retail power business through BKV Energy serving ~60K residential customers in Texas.
- Carbon Capture and Sequestration (CCUS): Revenue from carbon sequestration services through Barnett Zero (~185,000 metric tons CO2e per year capacity) and future Cotton Cove project. Partnership with Copenhagen Infrastructure Partners worth up to $500 million. Generates environmental attributes and carbon credits for net-zero power sales. First CSG sale completed to Kiewit Corporation.
- Midstream Services: Revenue from natural gas gathering, processing, and transportation through 1,086 miles of pipelines in Barnett Shale and 15.4 miles in Marcellus Shale. Includes compression units and amine processing.
Go-to-market motion2 records
Distribution channels5 records
Marketing channels6 records
BKV Corporation product offering
Product offeringCore offering
BKV Corporation operates a vertically integrated, closed-loop energy platform producing natural gas from the Barnett Shale (Texas) and Marcellus Shale (Pennsylvania), operating 1,086 miles of midstream gathering/processing pipelines, generating ~1,500 MW of power through combined-cycle plants (Temple I and II) serving the ERCOT market, and providing commercial carbon capture and sequestration services via dCarbon Ventures and the Barnett Zero facility (~183,000 metric tons CO2e/year). The company also markets Carbon Sequestered Gas (CSG), a verified carbon-neutral natural gas product combining Responsibly Sourced Gas with blockchain-logged CCS carbon credits, and serves ~60,000 Texas residential electricity customers through BKV Energy.
Product overview
BKV Corporation operates an integrated, closed-loop energy platform consisting of four core business lines: Natural Gas Upstream (production from the Barnett and Marcellus shales), Natural Gas Midstream (gathering, processing, transportation), Power Generation (via BKV-BPP Power, LLC — majority-owned joint venture operating Temple I and II combined-cycle power plants in Texas), and Carbon Capture & Sequestration (via dCarbon Ventures). The company also offers a differentiated branded product called Carbon Sequestered Gas (CSG), a carbon-neutral natural gas offering combining Responsibly Sourced Gas with permanent CCS credits and blockchain-verified certificates. A subsidiary, BKV Energy, provides retail electricity to ~60,000 Texas residential customers. The platform is designed so that natural gas production feeds directly into power generation, while carbon capture offsets combustion emissions — creating a vertically integrated, decarbonized energy chain.
Differentiator
Problem solved
Functional benefit
Brands
- dCarbon Ventures: BKV's dedicated business unit focused on driving Carbon Capture, Utilization and Storage (CCUS) innovations and project development.
- Barnett Zero
- Carbon Sequestered Gas (CSG)
- Temple Power Plants
Products and services
- Natural Gas Production (Upstream) Exploration and production of natural gas, natural gas liquids, and condensate from owned upstream assets in the Barnett Shale (544,000+ net acres, 6,614 producing wells in Texas) and Marcellus Shale (19,100+ net acres, 414 producing wells in Pennsylvania), with average production of approximately 835-940 MMcfe/d, making BKV one of the top 20 gas-weighted natural gas producers in the U.S.
- Natural Gas Midstream Services Natural gas gathering, processing, and transportation operations including 1,086 miles of gas gathering pipelines in the Barnett Shale, 15.4 miles in the Marcellus Shale, 61 midstream compression units, and an amine processing unit serving upstream production.
- Power Generation (Temple I & II Combined-Cycle Plants) 75% equity interest in BKV-BPP Power, LLC operating the Temple I (~752 MW) and Temple II (~747 MW) combined-cycle gas and steam turbine power plants in Temple, Texas, totaling approximately 1,500 MW of baseload generation capacity serving the ERCOT market in the ERCOT North Zone with baseload design heat rates of approximately 6,904 and 6,950 Btu/kWh.
- Carbon Capture and Sequestration (CCS) / dCarbon Ventures Carbon Capture, Utilization and Storage (CCUS) operations through dCarbon Ventures, including the Barnett Zero project (~183,000 metric tons CO2e/year capacity, located in Bridgeport, TX) and the Cotton Cove project (~45,000 metric tons CO2e/year), targeting 1.5 million tons per annum by 2028 through partnerships with EnLink Midstream and Copenhagen Infrastructure Partners ($500 million joint investment commitment).
- Carbon Sequestered Gas (CSG) First-of-its-kind carbon-neutral natural gas product bundling Responsibly Sourced Gas (RSG) with high-quality CCS-based carbon credits to offset every molecule of CO2e emitted across Scope 1, 2, and 3 emissions. Uses blockchain-logged, third-party-certified MRV-verified CSG certificates.
- BKV Energy (Retail Electricity) Residential Texas electricity company founded in 2022, serving approximately 60,000 customers in Dallas, Fort Worth, and Lubbock with sustainable, transparent, and fairly priced energy offerings.
Quantifiable outcome
- Achieved 176% year-over-year revenue growth in Q4 2025 with 26.5% beat versus analyst expectations
- +4 more outcomes
Companies that use BKV Corporation
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles4 records
BKV Corporation technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature5 records
BKV Corporation partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core, major and supporting.
- Bedrock Energy Partners, LLCcore$370 million acquisition of Barnett Shale assets from Bedrock Energy Partners, adding 97,000 net acres and 108 MMcfed of production. Consolidated BKV's position as largest natural gas producer in Barnett Shale with 1,121 producing locations and 800 Bcfe of proved reserves. Bedrock sold shares in March 2026 offering (4,142,089 shares).
- EnLink MidstreamcoreJoint CCS project at Barnett Zero facility. EnLink transports natural gas from BKV's Barnett production to its Bridgeport processing plant, where CO2 waste is captured and transported to BKV's sequestration well. Project achieves approximately 210,000 metric tons CO2e sequestration per year. BKV and EnLink among first energy companies with commercial CCS operations in the nation.
- Comstock ResourcesmajorCCUS partnership for sequestration projects at natural gas processing facilities in the Western Haynesville. Executed definitive agreements targeting 1.5 million tons per annum injection capacity by 2028. Advances BKV's carbon sequestration expansion strategy.
- Banpu Power US Corporation (Cotton Cove JV)majorJoint venture development of Cotton Cove CCS project expected to commence commercial operations by end of 2024 with approximately 45,000 metric tons CO2 per year sequestration capacity.
- Project CanarysupportingMethane emissions monitoring partnership using smart leak detection technology. Contributed to 75% reduction achieved at 2024 pilot sites with refined pad-level alarm thresholds. Supports BKV's environmental stewardship and emissions reduction initiatives.
Scale indicators17 records
Recent moves10 records
Expansion highlights6 records
BKV Corporation competitors and assessment
Company assessmentDirect peers
- Range Resources Corporation: Range Resources is a natural gas-weighted E&P focused on the Marcellus Shale in Pennsylvania, with substantial production and a similar focus on low-cost gas. Highly comparable to BKV's Marcellus operations and overall gas-weighted E&P business model.
- Antero Resources Corporation: Antero Resources is one of the largest natural gas and NGL producers in the Appalachian Basin, with operations in the Marcellus and Utica shales. Direct peer to BKV given similar gas-weighted production profile, NGL exposure, and Appalachian basin focus.
- EQT Corporation: EQT is the largest natural gas producer in the United States, with a primary focus on the Marcellus Shale in Pennsylvania and West Virginia. Closest direct peer in terms of pure-play natural gas E&P with similar Pennsylvania acreage exposure.
- Southwestern Energy Company: Southwestern Energy is a natural gas-focused E&P with operations in the Haynesville Shale and Appalachia. Direct peer to BKV's gas-weighted production model and exposure to LNG-driven gas demand growth.
- Comstock Resources, Inc. Comstock Resources is a pure-play natural gas E&P in the Haynesville Shale. Direct peer given gas-weighted production focus and is also BKV's CCUS joint venture partner, providing a uniquely close business relationship and direct operational comparison.
Broad incumbents
- Expand Energy Corporation: Expand Energy (formerly Chesapeake Energy + Southwestern Energy) is one of the largest US natural gas producers with multi-basin exposure including the Marcellus, Haynesville, and Utica. Broad incumbent in the gas E&P space with significantly greater scale and LNG exposure than BKV.
- Coterra Energy Inc. Coterra Energy is a diversified independent E&P with significant natural gas operations in the Marcellus and Permian, plus oil assets. Broader incumbent peer given multi-basin, multi-commodity model.
- Devon Energy Corporation: Devon Energy is a large independent E&P with significant natural gas production, including in the Delaware Basin and Anadarko. Broad incumbent with overlap on the gas-weighted E&P value chain.
- Vistra Corp. Vistra is one of the largest competitive power generators in the US, with a substantial natural gas-fired generation portfolio and retail electricity business. Comparable to BKV's Temple I & II power plants and BKV Energy retail business.
Emerging players
- Talen Energy Corporation: Talen Energy is an independent power producer with a significant nuclear and gas generation portfolio in PJM/ERCOT that has actively pursued data center and hyperscaler PPAs. Emerging peer in the data center power sales strategy that BKV is also pursuing.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
BKV Corporation social profiles
Digital presenceBKV Corporation compliance and trust
Trust signalCompliance2 records
BKV Corporation financial estimates
Financial estimateRevenue estimate
Valuation estimate
BKV Corporation leadership team
Management profileNumber of profiles
Profiles18 records
BKV Corporation subsidiaries and ownership
Company hierarchySubsidiaries7 records
BKV Corporation funding detail
Funding detailFunding overview
Funding rounds6 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
BKV Corporation M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about BKV Corporation
What does BKV Corporation do?
BKV Corporation operates a vertically integrated, closed-loop energy platform producing natural gas from the Barnett Shale (Texas) and Marcellus Shale (Pennsylvania), operating 1,086 miles of midstream gathering/processing pipelines, generating ~1,500 MW of power through combined-cycle plants (Temple I and II) serving the ERCOT market, and providing commercial carbon capture and sequestration services via dCarbon Ventures and the Barnett Zero facility (~183,000 metric tons CO2e/year). The company also markets Carbon Sequestered Gas (CSG), a verified carbon-neutral natural gas product combining Responsibly Sourced Gas with blockchain-logged CCS carbon credits, and serves ~60,000 Texas residential electricity customers through BKV Energy.
Is BKV Corporation a public or private company?
BKV Corporation is a public company. It is classified as public and is currently operating.
When was BKV Corporation founded?
BKV Corporation was founded in 1978. It employs 251 to 500 people.
Where is BKV Corporation based?
BKV Corporation is headquartered in Denver, United States, in the North America region.
How does BKV Corporation make money?
Four revenue lines are on record. Natural Gas Production (Upstream) is the primary driver. The others are power Generation, carbon Capture and Sequestration (CCUS) and midstream Services.
Who are BKV Corporation's main competitors?
Direct peers on record are Range Resources Corporation, Antero Resources Corporation, EQT Corporation, Southwestern Energy Company and Comstock Resources, Inc.. Broad incumbents are Expand Energy Corporation, Coterra Energy Inc., Devon Energy Corporation and Vistra Corp.. Talen Energy Corporation is listed as an emerging player.
Does BKV Corporation have an API?
No public API is recorded for BKV Corporation.
What industry is BKV Corporation in?
BKV Corporation's product category is Integrated Natural Gas and Power Generation. Its primary akta.pro industry code is EUALALAC, Gas-to-Power Project Development (IPP/CPP, Permitting, Financing), with a secondary code of EUALALAB, Captive & Embedded Gas-Fired Power Generation (Industrial/Commercial CHP). Its NAICS code is 21113 and its SIC code is 1311.