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Privately-held BKV Corp. stated Friday it purchased pure fuel upstream and midstream infrastructure in Texas’ Barnett Shale area from Exxon Mobil (NYSE:XOM) for $750M.
Relying on future pure fuel costs, extra contingent funds could also be incurred.
BKV stated it’s buying ~160K acres primarily in Tarrant, Johnson and Parker counties, with upstream property that embrace low decline wells, in addition to 750 miles of gathering pipelines, compression and processing midstream infrastructure.
Exxon Mobil (XOM) shares corrected in June and are low cost based mostly on earnings and free money circulation, The Asian Investor writes in a bullish analysis published recently on Seeking Alpha.
