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Natural gas producer BKV files for proposed $100M IPO (Pending:BKV)

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Natural gas producer and processor BKV Corp. (BKV) has filed for a proposed $100M initial public offering.

BKV didn’t specify in its filing how many shares it was seeking to offer or the price, but indicated in an attached filing fee schedule that it was looking to raise up to $100M, a number that is likely a placeholder and subject to change.

The company hopes to list its shares on NYSE under the symbol BKV. Lead bookrunners include Credit Suisse, BofA Securities, Barclays, Citigroup, Evercore ISI and Jefferies.

Based in Colorado, BKV is a producer, processor and transporter of natural gas derived primarily from the Barnett Shale of Fort Worth Basin in Texas and the Marcellus Shale of the Appalachian Basin in Northeast Pennsylvania. The company is also engaged in power generation and carbon capture and sequestration.

The company is profitable. For the nine-month period ended Sept. 30, BKV reported net income of $154M on total revenue of $520M.

BKV is the latest oil and gas company to file for an offering. Other recent filers include TXO Energy, also known as MorningStar, and Permex Petroleum (OTCQB:OILCD).

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