BKV Sets National Record for Executing Most Refracs in 2021July 29, 2022
BKV has earned a new title for itself as "top refrac operator in the U.S." The sustainability-driven natural gas company currently leads the industry in refrac executions, completing over 200 refracs in the Barnett Shale in 2021—more than any other operator in the country. Competing operators closed out the year with final refrac numbers ranging from 59 to 139.
As the largest natural gas producer in the Barnett Shale, BKV saw a rapid return on investment with approximately 1,200 of their 4,200 total producing wells as refrac inventory. And BKV continues to show strong results from the execution of its 2021 refrac program with an additional reserve upside of 800+ Bcfe.
Chris Kalnin, CEO of BKV, said, “Our number one priority at BKV is driving sustainability, which permeates through each strategic corporate initiative. When we decided to move forward on our refrac program, we went the extra mile to identify all opportunities for the sustainable production of green gas.”
For example, during the refrac process, where feasible, BKV’s operators typically blended two to five percent of produced water to offset freshwater needs. In 2021, nearly 37 percent of BKV’s refracs used produced water, and that water accounted for approximately four percent of the total water use for each job. In addition, BKV eliminated flowback from re-stimulation and refracs, allowing natural gas to go straight to production. The company notes that this significantly impacts flowback-related emissions, improving its overall emissions profile.
The company's 2021 Sustainability Report outlines its efforts to reach net-zero emissions across Scope 1 and 2 by 2025, as well as its operating strategy which has led BKV to become one of the top 20 gas-weighted natural gas producers in just seven years.
Kalnin said, “I’m extremely proud of our operations and technical teams on this national achievement as we continue to make concrete and transparent actions for the future of sustainability—now.”