Oaktree Invests $100 Million, Pledges Additional $600 Million to BKV

DENVER, Dec. 16, 2020 (GLOBE NEWSWIRE) — BKV Corporation (“BKV”) announced today that funds managed by Oaktree Capital Management L.P. (“Oaktree”) has invested $100 million in preferred equity in BKV towards BKV’s notable deal with Devon Energy Corporation (NYSE: DVN) (“Devon”) acquiring Devon’s assets in the Barnett Shale. Through this strategic partnership, Oaktree has committed to invest an additional $600 million in future mutually agreed upon opportunities in natural gas.

BKV’s technology-driven approach to the natural gas market and strong leadership has enabled it to become one of the top 20 natural gas companies in the U.S. since its inception five years ago, while furthering Banpu Public Company Limited’s (“Banpu”) commitment to expand to natural gas holdings in the U.S. Banpu and BKV are committed to continue acquiring proved developed…