BKV Corp., Comstock Resources announce exclusive carbon capture pact

BKV Corporation (BKV) and Comstock Resources (CRK) announced an exclusive, non-binding agreement for BKV to develop carbon capture, utilization and sequestration 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. The terms of the prospective projects are subject to further negotiation and execution of one or more definitive agreements. The agreement seeks to combine BKV’s proven and innovative CCUS capabilities with Comstock’s position as a producer in the Haynesville shale.