The problem with dealmaking in the Barnett Shale, at first glance, is that it has already been explored and apparently tapped out. It's home to at least 16,000 horizontal wells, the oldest of which is 40 years old. Like the E&P version of "Antiques Roadshow," Denver's BKV Corp. began appraising the Fort Worth basin around 2019. CEO Chris Kalnin and team scrutinized the Haynesville Shale and other plays, but it was in the Barnett they believed they had found something of unrecognized value. Since then, BKV hasn't merely bought the upstream assets it's known for amassing in the Marcellus Shale, it also locked down deals for power generation and carbon capture and sequestration (CCS).
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