BKV Upstream Midstream files $500M senior notes offering to fund Bedrock acquisition; pro forma production 899 MMcfe/d

BKV Corp

BKV Upstream Midstream announces $500M private placement of senior notes due 2030 to fund Bedrock Acquisition cash portion and repay RBL borrowings.
Pro forma for Transactions: net daily production 899 MMcfe/d (77% gas, 23% NGLs) for six months ended June 30, 2025.
Pro forma total proved reserves of 5.2 Tcfe with 7.3% average base decline rate; net leverage ratio of 1.4x.
RBL Credit Agreement amended: borrowing base increased to $1.0B, commitments to $800M, contingent on Bedrock closing.
Pro forma Adjusted EBITDAX for twelve months ended June 30, 2025 would have been $339.6M.

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