BANPU Finishes Transaction of “Barnett”, Expecting to Boost Gas Production Volume in U.S.

Banpu Public Company Limited (BANPU) announced that BKV Corporation (BKV), BANPU’s subsidiary, has completed the acquisition of Barnett shale asset on October 1, 2020.

 

The acquisition price of $570 million consisted of $80.2 million cash purchase price deduction from the Barnett’s operation and other adjustment since September 1, 2019 in which BANPU has the right to deducted from the investment value upon the closing date of transaction and adjusting with the paid deposit of $170 million therefore, the remaining cash payment on October 1, 2020 is $319.8 million or equivalent to ฿10,105 million.

 

The Barnett shale asset would immediately increase gas production volume with additional cash flow contribution and provide synergies around technology integration with BANPU existing portfolio in the U.S. as well as diversification benefit into the epicenter of natural gas demand growth in the U.S.