BKV Corporation ("BKV"), a forward-thinking, growth-driven energy company, today released its second annual Sustainability Report, which details progress made in 2022 along its path to achieving its goal of net zero Scope 1 and Scope 2 emissions from its owned and operated upstream businesses by the end of 2025, and net zero Scope 1, 2, and 3 emissions from its owned and operated upstream businesses by the early 2030s.
DENVER, June 5, 2023 /PRNewswire-PRWeb/ -- BKV Corporation ("BKV"), a forward-thinking, growth-driven energy company, today released its second annual Sustainability Report, which details progress made in 2022 along its path to achieving its goal of net zero Scope 1 and Scope 2 emissions from its owned and operated upstream businesses by the end of 2025, and net zero Scope 1, 2, and 3 emissions from its owned and operated upstream businesses by the early 2030s.
"At BKV, we believe that without action sustainability is just a word. That's why we're taking meaningful steps to help create a better world through our emission reduction and energy impact goals," says Chris Kalnin, CEO of BKV. "If 2021 was a year of setting our sustainability commitments, 2022 was a year of striving to deliver on those commitments."
Highlights from 2022 include the formation of BKV's wholly owned subsidiary and dedicated carbon capture, utilization, and sequestration (CCUS) business line, BKV dCarbon Ventures, and the creation of BKVerde to evaluate and develop CCUS projects throughout the United States. As well as the company's significant progress towards our carbon emission reduction goals, and, in some cases, exceeding goals like reducing Scope 1 and 2 annual greenhouse gas emissions from our owned and operated upstream businesses by 16% from a 2021 baseline.
Also notable for the company in 2022, was the acquisition of approximately 160,000 total net acres in the Barnett, primarily Tarrant, Johnson, and Parker Counties, with upstream assets that include low decline wells and high average working interests of approximately 94 percent in over 2,100 wells with operatorship positions. The transaction also included more than 750 miles of gathering pipelines, compression, and processing midstream infrastructure from Exxon Mobil Corporation in the form of their XTO Energy, Inc. and Barnett Gathering LLC subsidiaries. Additional highlights detailed in BKV's 2022 Sustainability Report include:
- Contributing more than $175,000 in social investment, and expanding charitable and volunteer partnerships
- Investing $12.7 million in innovations and optimization of our business in 2022 to reduce Scope 1 and Scope 2 emissions
- Converting 2,500 wells to pneumatics in our Barnett and NEPA operations
- Introducing a formal internal training portal that holds all required trainings and documents related to IT, cybersecurity, ethics, compliance, EHSR, etc
BKV started in 2015 with the simple belief that the unquenchable demand for energy and the need to take care of the planet would require the creation of a different kind of energy company. Since then, we have enlisted smart minds committed to the relentless pursuit of that dream. Today, we are focused on operating with the highest level of integrity to challenge the status quo and take smart risks, striving to deliver on our emissions reduction and energy impact goals.
About BKV Headquartered in Denver, Colorado, BKV Corporation (BKV) is a privately held, forward-thinking, growth-driven, energy company focused on creating value for our stockholders. BKV's core business is to produce natural gas from its owned and operated upstream businesses, which we expect to achieve net zero Scope 1 and Scope 2 emissions by the end of 2025. Founded in 2015, BKV has approximately 370 employees across the U.S. that are committed to building a different kind of energy company. BKV is one of the top 20 gas-weighted natural gas producers in the United States and the largest natural gas producer in the Barnett Shale. BKV Corporation is the parent company for the BKV family of companies. For more information, visit http://www.bkv.com.
Forward-Looking Statements
This communication includes forward-looking statements. All statements other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws. Any statements herein regarding future events, such as carbon emission reduction goals, new business opportunities, growth objectives and any other statements that are not historical facts, are forward-looking statements. These forward-looking statements involve certain risks and uncertainties, many of which are beyond our control, that could cause actual results to differ materially from those indicated in such forward-looking statements, including, but not limited to risks relating to climate change, regulatory restrictions and other risks relating to our operations. These forward-looking statements speak only as of the date of this communication, and we expressly disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein.
Media Contact
Amy Jackson, TaleSplash for BKV, 1 415-609-2435, [email protected]
SOURCE TaleSplash for BKV
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