Increased Stake in Power JV
BKV announced its acquisition of a majority control position in the Power JV, increasing its ownership to 75%, which is expected to close in Q1 2026. This increases BKV's power generation capacity to over 1.1 gigawatts in the ERCOT market.
Upstream Growth and Efficiency
The upstream business reported a 9% year-over-year volume increase, outperformed on production, cost, and capital efficiency, and maintained a strong performance despite an unchanged capital guidance.
Successful Bedrock Acquisition
BKV successfully closed its Bedrock acquisition, expanding its operational footprint in the Fort Worth Basin and integrating assets seamlessly.
Strong Financial Performance
BKV delivered a net income of $76.9 million for the third quarter and a 50% increase in adjusted EBITDAX from Q3 2024, driven by higher production volumes and improved pricing.
Carbon Capture Progress
Significant progress in the carbon capture business with two more projects to become operational by the first half of 2026. The company aims for an injection rate of 1 million tons per annum by year-end 2027.