BKV Corporation Announces Path to Net-Zero Emissions Across Scope 1 and 2 by 2025 in Inaugural Sustainability Report

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Apr 22, 2022, 06:30 ET

DENVER, April 22, 2022 /PRNewswire/ -- BKV Corporation (BKV), a natural gas exploration and production company, announced today the release of its inaugural sustainability report, in honor of World Earth Day, that showcases its commitment to producing low-impact, sustainable, green natural gas. BKV is one of the top 20 natural gas producers in the United States and the largest gas producer in the Barnett Shale.

In the report, BKV details its actionable plan toward reaching net-zero emissions across Scope 1 and 2 by 2025.

Chris Kalnin, CEO of BKV, said, "BKV's mission is to lead the industry on the journey toward the safe and profitable production of net-zero green gas. Our 2021 Sustainability Report serves as a testament to that commitment. We encourage everyone in the industry to take concrete and transparent actions for the future of sustainability—now."

BKV plans to mitigate Scope 1 emissions through its Emissions Monitoring Ecosystem, a four-tiered approach for detecting and monitoring emissions from its operations. Kalnin said, "By managing what we measure, we are empowered to make informed, data-driven decisions to meaningfully, and authentically improve our emissions profile."

Other notable components of the report include the launch of BKV's Carbon Capture Utilization and Storage (CCUS) business, as well as the utilization of several internally developed programs to deliver climate solutions such as "Pad of the Future," a program aimed at converting natural gas-powered pneumatics to instrument air on existing pads, reducing its GHG footprint.

BKV made several significant announcements over the past six months, including the purchase of a natural gas power plant in Texas for $430 million through a joint venture partnership. Kalnin explained, "This acquisition provided an entry into the power business, delivering exceptional grid reliability and leading ESG standards with the goal of directly certifying our emissions footprint at each step in the value chain."

The company also made headlines for its partnership with Project Canary, an environmental certification and ESG data company, to produce certified Responsibly Sourced Gas (RSG). Using real-time, continuous emissions monitoring, Project Canary and BKV aim to validate the high environmental standards by which natural gas is produced, and that a market exists for differentiated RSG products. "We foresee certified RSG driving demand for low carbon energy," said Kalnin. This year, BKV and Project Canary will partner to address GHG emissions across the upstream and downstream energy value chain through first-of-its-kind environmental assessments and monitoring programs.

In late 2021, BKV joined the Our Nation's Energy Future (ONE Future) Coalition, a group of natural gas companies working together to voluntarily reduce methane emissions across the natural gas value chain to one percent or less, by 2025. Richard Hyde, Executive Director of ONE Future, said, "BKV is committed to safety, environmental stewardship, and actively engaging in the communities where they operate, and membership with ONE Future will enhance these commitments tenfold."

Kalnin said, "I'm thrilled to share the tremendous and actionable progress we made in 2021, which is a direct reflection of the passion and commitment of our employees and requiring every operational decision—whether that is restimulation of a site or the acquisition of a natural gas power plant—to fit within our goal towards being a profitable net-zero energy company."

About BKV Corporation
Headquartered in Denver, Colorado, BKV Corporation (BKV) is a privately held natural gas exploration and production company that seeks to deliver reliable, sustainable energy to the community. BKV is one of the top 20 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 www.bkvcorp.com.

SOURCE BKV Corporation