BANPU benefits as BKV closes Barnett Shale gas deal, adding 6.6% to production

M&A · PartnershipCommodityAnalyst
โดย Kaohoon·USTH·Read original
Summary · why it matters

Banpu Public Company Limited, or BANPU, is set to benefit after BKV, in which BANPU holds a 63.3% stake, announced the closing of a transaction to acquire new upstream, midstream and carbon capture and storage assets in the Barnett Shale natural gas field in Texas, United States. The deal was funded with BKV's cash together with borrowings under a revolving credit facility, though the transaction value was not disclosed. The acquired assets have production capacity of about 65 million cubic feet equivalent per day, of which more than 50% is liquid hydrocarbons. Proved and producing reserves stand at approximately 0.35 trillion cubic feet equivalent, covering roughly 117,000 acres, with about 1,000 producing wells, a gas processing plant with capacity of 180 million cubic feet per day, a gas pipeline system of about 340 miles, and a CCS project capable of capturing and storing roughly 100,000 tonnes of carbon dioxide per year. Compared with BKV's current gas production of 978 million cubic feet equivalent per day, this represents about 6.6% of its existing production base. The US gas business accounted for about 24% of total EBITDA in 2025. Asia Plus Securities therefore maintained its fair value for BANPU at 17 baht per share and recommended gradually accumulating the stock on weakness to capture the expected second-half 2026 earnings trend, which is forecast to be better than the first half on seasonal factors.

Impact on stocks 3

Energy Transition & Power Demand▲ · 2 stocks
Banpu Public Company Limited
BANPU
▲ PositiveCapitalrelevance

BANPU's 63.3%-owned BKV closed a Barnett Shale acquisition adding ~6.6% to production, supporting the maintained 17 baht fair value.

BKV Corporation
BKV
▲ PositiveCapitalrelevance

BKV closed an acquisition of Barnett Shale upstream, midstream and CCS assets, expanding its production base by about 6.6%.

Financials▲ · 1 stocks

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