0000000000-23-004386.txt : 20241025 0000000000-23-004386.hdr.sgml : 20241025 20230428143006 ACCESSION NUMBER: 0000000000-23-004386 CONFORMED SUBMISSION TYPE: UPLOAD PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20230428 FILED FOR: COMPANY DATA: COMPANY CONFORMED NAME: BKV Corp CENTRAL INDEX KEY: 0001838406 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 850886382 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: UPLOAD SEC FILE NUMBER: 377-06312 BUSINESS ADDRESS: STREET 1: 1200 17TH ST., STE 2100 CITY: DENVER STATE: CO ZIP: 80202 BUSINESS PHONE: (720) 375-9680 MAIL ADDRESS: STREET 1: 1200 17TH ST., STE 2100 CITY: DENVER STATE: CO ZIP: 80202 PUBLIC REFERENCE ACCESSION NUMBER: 0001104659-22-089860 LETTER 1 filename1.pdf begin 644 filename1 M)5!$1BTQ+C4*)>+CS],*,2 P(&]B:@H\/"]#;VQO7!E+UA/8FIE8W0O5VED=&@@,30R."],96YG=&@@,S8U+T)I='-097)# M;VUP;VYE;G0@.#X^7M0Q1$1$1$1$1&3"Q\<'QA6_?__&K *98K_? 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M&G#]B"?(7DW@AH_41E3#JK!3\;DX4F'+I%SSI!Y)$T95I \&%*$QS[B6\9V& MY['07CS^SRAM./$N+EQKW,:/O1]L:<">V+TTN:Z3M=8KUB: MLC6^+#X)%#>,2/2*A0W# MW7NK6Q.EBR-9-F:<9%UNRE(A_O-&T9]WW;8HG( M&584YZ/")FF76=-2J1D6'!G%945@G)$%:DD&']#U&=QP)8N4UQE!,4<[N.7H&:X_TO7M8X(>>&:TW*#S[>F^:&B\ZCC'SBR0'SBV MS&[VM:'A]ANOGZ_VR'))-,*XQ#?)JMU$O8\K_/;3_7!E M+T-A=&%L;V8 %/F2VY<;8,YUV"-D.4?&+V1?$KR^3_69XR6 ^'7J!"UC>^X%1I M(U^+C>LXOE2ALU[-?1T:YUNU=7[FH[OW3Z'*\-W\07IW3=SE$ET^"M?^L7G$ MFPS8S$#Z TSMB7L*96YD'0M-2XT+C4* TEXT-EXTRACT 2 filename2.txt United States securities and exchange commission logo April 28, 2023 Christopher P. Kalnin Chief Executive Officer BKV Corporation 1200 17th Street, Suite 2100 Denver, CO 80202 Re: BKV Corporation Amendment No. 4 to Registration Statement on Form S-1 Filed April 14, 2023 File No. 333-268469 Dear Christopher P. Kalnin: We have reviewed your amended registration statement and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to this letter by amending your registration statement and providing the requested information. If you do not believe our comments apply to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response. After reviewing any amendment to your registration statement and the information you provide in response to these comments, we may have additional comments. Amendment No. 4 to Registration Statement on Form S-1 Summary Reserve, Production and Operating Data 2022 Activity, page 35 1. Your filing states on pages 35 and 188 that during 2022, Revisions of previous estimates consisted of upward revisions to proved developed reserves and proved undeveloped reserves of 182.9 Bcfe as a result of higher average pricing during 2022 for natural gas, NGLs and oil. However, on page F-50, this upward pricing revision of 182.9 Bcfe is attributed solely to proved developed reserves. Please review and revise your filing so that all volume changes are consistent and correlate with the reconciliations provided. Christopher P. Kalnin FirstName LastNameChristopher P. Kalnin BKV Corporation Comapany April NameBKV Corporation 28, 2023 April 228, 2023 Page 2 Page FirstName LastName Our Operations Drilling, Refrac and Restimulation Activity, page 174 2. Please expand your filing to include a description of your present activities, including the number of gross and net wells in process, as of December 31, 2022. Refer to the disclosure requirements in Item 1206 of Regulation S-K. Summary of Our Reserve Estimates Estimated Reserves at SEC Pricing, page 184 3. Your presentation of estimated probable and possible reserves at SEC pricing on pages 185-186 includes multiple lines labeled as Total estimated proved undeveloped reserves (MMcfe) , which, in fact, appear to refer to probable and possible developed and undeveloped reserves. Please review and revise the labels in this presentation as necessary to resolve these inconsistencies. You may contact Mark Wojciechowski, Staff Accountant, at (202) 551-3759 or Jenifer Gallagher, Staff Accountant, at (202) 551-3706 if you have questions regarding comments on the financial statements and related matters. You may contact Sandra Wall, Petroleum Engineer, at (202) 551-4727 with questions about engineering comments. Please contact Liz Packebusch, Staff Attorney, at (202) 551-8749 or Karina Dorin, Staff Attorney, at (202) 551-3763 with any other questions. Sincerely, Division of Corporation Finance Office of Energy & Transportation cc: Samantha Hale Crispin