BKV Corp

2024-2025: Listing and a new direction

The record begins in September 2024, when the exchange certified BKV Corp's securities for listing, clearing them to begin trading. Shares on issue stood at 63,872,684 at the end of 2023 and 84,600,301 at the end of 2024, though the beats do not explain that rise.

In May 2025 BKV formed a carbon-capture joint venture, BKV dCarbon Project, with C Squared Solutions. BKV contributed its carbon-capture projects and assets for at least 51% ownership, while C Squared committed up to $500 million in cash over five years to fund development.

2025: Buying Bedrock

In August 2025 BKV agreed to buy Bedrock Production from Bedrock Energy Partners for $370 million, paid in cash plus up to $110 million in BKV stock. To help fund it, BKV's Upstream Midstream subsidiary issued $500 million of 7.5% senior unsecured notes due 2030 on 1 October 2025. The acquisition closed around the same time, and Bedrock and its subsidiaries became guarantors of the notes. In December BKV raised more equity, selling 6.9 million shares, including a fully exercised overallotment (extra shares sold to meet demand), at $26.00 each. Shares on issue ended 2025 at 96,871,868.

2026: Full ownership and more equity

In January 2026 BKV closed its purchase of the remaining 50% of the BKV-BPP Power joint venture from Banpu Power US, first disclosed in October 2025 and paid partly in BKV stock. BKV then owned the venture outright.

In March BKV raised equity again, selling 5.55 million new shares plus a fully exercised 1.45 million-share option at $26.58 each. In the same offering, Bedrock Energy Partners sold 4.1 million of the BKV shares it had received as payment for Bedrock Production. Shares on issue stood at 109,437,830 in 2026. In May 2026 BKV's credit facility with Citibank was amended to loosen its leverage-ratio limits, which the company's context describes as reflecting an improving credit position.