The IPO Buzz: U.S. Natural Gas Producer BKV Corp. (BKV) Sets Terms for $300 Million IPO

Denver-based BKV Corp. (BKV Proposed), a U.S. natural gas and NGL producer active mostly in the Barnett  Shale in the Fort Worth  Basin in Texas, disclosed the terms for its $300 million IPO early today – Monday, Sept. 16, 2024. BKV Corp. is offering 15.0 million shares at a price range of $19.00 to $21.00 to raise $300.0 million, if priced at the $20.00 mid-point of its range, according to its S-1A filing.  BKV Corp. says it will use the IPO proceeds to pay off some debt. The fracking company’s IPO is a New York Stock Exchange listing.  BKV Corp. is the American subsidiary of Banpu, Thailand’s largest coal mining company. The “BKV” in the U.S. company’s name stands for Banpu Kalnin Ventures. “Kalnin” is a reference to Chris Kalnin, the CEO  of BKV Corp. The company was founded in 2015. Citigroup, Barclays, Evercore ISI and Jefferies are the joint book-runners. “We are engaged in the acquisition, operation and development of natural gas and NGL properties primarily located in the Barnett Shale in the Fort Worth Basin of Texas (the “Barnett”) and in the Marcellus Shale in the Appalachian Basin of Northeastern Pennsylvania (“NEPA”),” BKV Corp. said in the prospectus. About 99 percent of BKV Corp.’s net acreage position – about 505,000  net acres as of Sept. 30, 2022 – was dedicated to production, the prospectus said. Worth Noting: The Wall Street Journal’s profile of the company, published Dec. 28, 2023, and headlined:  A Fracker Tries to Produce Guilt-Free Gas For the 12 months that ended March 31, 2024, BKV Corp. reported a net loss of $17.9 million on revenue of $813.13 million, according to the prospectus. (For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on IPOScoop.com’s website.) Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board. To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message. Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions. Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions or anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.