BKV Corp. initiated with an Outperform at Evercore ISI

Evercore ISI analyst Stephen Richardson initiated coverage of BKV Corp. (BKV) with an Outperform rating and $24 price target The U.S. natural gas producer has integrated operations both in the natural gas midstream, as well as downstream with direct ownership of a power plant complex in Texas, and last year the company successfully brought online its first carbon capture project, the analyst tells investors. This past June, BKV announced an agreement to sell Carbon Sequestered Gas, or CSG, to an industrial end-user, securing premium pricing to Henry Hub, notes the analyst, who expects BKV will announce further CSG sales agreements alongside the build out of the company’s CCUS business.