BANPU Joins Hand with “Oaktree” to Further the Expansion of Natural Gas Business in USA

Banpu Public Company Limited (BANPU) has informed that on December 16, 2020, its affiliate BKV Corporation (BKV) in which BANPU holds 96.30% informed that Oaktree Capital Management LP (Oaktree) has invested $100 million in BKV’s preferred stock and indicate the commitment in supporting BKV in future mutually agreed upon opportunities in the natural gas business in the USA.

 

This partnership with Oaktree would bring additional strategic alignment and support towards realizing BKV aspiration of becoming a leading technology-driven natural gas Exploration and production while furthering BANPU’s commitment to expand to natural gas holdings in the USA.

BANPU asserted that this transaction of Banpu’s affiliates has no impact on the change of rights and control over operations of the Shale gas business.

 

The natural gas investment is in line with BANPU’s Greener & Smarter strategy and also serves growing demand in USA. BANPU stated that it will continuously seek growth value in the natural gas business through further strategic investment that lead to significant EBITDA contribution under BANPU’s portfolio. Currently the company’s total net gas production is approximately 700 Mmcfd with 1P reserves of 4.0 Tcf which enabled us to become one of the top 20 natural gas companies in the U.S.