An affiliate of Kalnin Ventures LLC’s BKV Oil and Gas Capital Partners LP fund has entered into purchase and sale agreements with respect to the fund’s fifth acquisition of assets in just over two years in the northeast portion of the Marcellus Shale.
The transaction is valued at an aggregate price of $210 million, with potential additional payments of up to $18.75 million over the next three years, depending on natural gas prices. Separate agreements were entered into with Carrizo (Marcellus) LLC and Reliance Marcellus II LLC to acquire their respective interests in the assets, comprising 112 wells.
Upon completion of this transaction, the fund will have an interest in 355 active wells with net natural gas production of 160 million cubic feet per day. The assets are predominantly located in Pennsylvania’s Wyoming and Susquehanna Counties.
For more information, visit www. kalninventures.com or call (720) 375-9680.