BKV to Develop CCUS Projects at Comstock's Gas Facilities

BKV Corporation and Comstock Resources, Inc. have entered into an exclusive, non-binding agreement for BKV to develop carbon capture, utilization and sequestration (CCUS) projects at two of Comstock’s natural gas processing facilities in its Western Haynesville operating area.

As part of the agreement, the companies plan to develop CCUS injection wells to permanently sequester carbon dioxide waste produced at Comstock’s Bethel and Marquez natural gas processing and production facilities in Texas, as well as other locations, according to a joint news release.

The terms of the prospective projects are subject to further negotiation and execution of one or more definitive agreements, the two companies said.

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The agreement seeks to combine BKV’s proven and innovative CCUS capabilities with Comstock’s position as a leading producer in the Haynesville shale, a premier natural gas basin in Northwest Louisiana and East Texas with direct access to the high value Gulf Coast markets and the LNG corridor, according to the release.

Chris Kalnin, CEO of BKV, said, "BKV is proud to bring our proven track record to the table as we deliver innovative solutions that meet rising energy demand while managing carbon emissions. Collaborating with a premier partner like Comstock is a compelling opportunity to showcase how our CCUS portfolio can enable other natural gas producers to utilize low-carbon infrastructure and operate more sustainably. We view carbon capture as essential to the future of responsible energy, and this collaboration reflects a shared commitment to innovation, sustainability, and the long-term viability of natural gas. We’re excited about what we can achieve together."

M. Jay Allison, CEO of Comstock Resources, said, "Industrial customers desire scalable, low-carbon energy solutions, and enhancing Comstock’s infrastructure with innovative CCUS partnerships will deliver exactly that. We are excited about the opportunity to collaborate on carbon capture projects that align with Comstock’s commitment to innovation and sustainability. BKV’s leadership in carbon capture and storage innovation makes them the ideal partner for executing our vision."

New BKV Chief Commercial Officer

Meanwhile, BKV said it appointed Dilanka Seimon as the company’s chief commercial officer, a newly created role, effective immediately.

Seimon most recently served as the chief commercial officer of EnLink Midstream, responsible for businesses across gathering, processing, transport, storage and terminal services in the oil, gas, NGL, and carbon segments. Prior to EnLink, he served as vice president of alternative energy at Energy Transfer and as vice president for sales and marketing at BHP, where he led teams responsible for logistics and marketing of BHP's global oil, gas, NGL, and LNG production portfolio, as well as energy procurement for BHP.

Headquartered in Denver, Colorado, BKV describes its core business as producing natural gas from its owned and operated upstream assets. Its overall business is organized into four business lines: natural gas production; natural gas gathering, processing and transportation; power generation; and carbon capture, utilization and sequestration.