BKV Corporation releases annual sustainability report

BKV Corporation released its third annual Sustainability Report, detailing its progress on the company’s environmental initiatives, its path to achieving net zero emissions, and its work on employee engagement and safety performance.

BKV, the largest natural gas producer in the Barnett Shale, has taken a “closed loop” approach to its net zero goals through the operation of its four business lines: natural gas upstream production, natural gas midstream, power generation, and carbon capture, utilization, and sequestration (CCUS).

Late last year, BKV became one of the first companies in the U.S. to execute a built-for-purpose, commercial CCUS operation. Through this operation, CO2 is captured before it’s released into the atmosphere, and then it is permanently stored in deep underground formations. The project, known as Barnett Zero, was approved by the Texas Railroad Commissions and also has an EPA-approved monitoring, reporting and verification plan. Currently, more than a dozen additional CCUS projects are currently being explored by the company.

In addition, BKV recently introduced a Scope 1, 2 and 3 carbon-neutral natural gas product — Carbon Sequestered Gas (CSG). BKV expects to produce CSG by bundling its Responsibly Sourced Gas (RSG) with carbon credits sufficient to offset the RSG’s estimated Scope 1, 2 and 3 greenhouse gas (GHG) emissions.

“On every page, this report demonstrates how we live up to the high standards we set for ourselves,” BKV CEO Chris Kalnin said. “Despite a downturn in commodity prices—perhaps in defiance of it—we continue to deliver on the commitments we make. BKV was founded as a different kind of energy company based on the belief that meeting the world’s unquenchable demand for energy and protecting the planet cannot be mutually exclusive propositions. It’s not easy. Commitments never are. But when you’re driven by values, nothing gets in the way of doing the right thing.”

The report also highlights BKV’s Pad of the Future program, which has dramatically reduced Scope 1 emissions, particularly methane, through various operational and equipment upgrades. Fully implemented on more than 3,200 wells, the program has eliminated over 520,000 metric tons of CO2 equivalent per year. Combined with improved emission quantification methods and leak-detection and repair protocols, there has been a 38 percent reduction of BKV’s Scope 1 and 2 GHG emissions.

Among other highlights, BKV achieved its safety target, launched an enhanced user interface experience to drive more participation in career advancement tools and planning, and invested $170,000 in local nonprofits across Colorado, Texas and Pennsylvania.

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