Kalnin Ventures completes fourth Marcellus purchase

Denver-based Kalnin Ventures has made its fourth asset purchase in the Marcellus Shale in northeast Pennsylvania, Kallanish Energy reports.

It has acquired a non-operating portfolio for $16.25 million on behalf of its BKV Fund and investor Banpu Pcl, a Thai-based coal and energy generation company. The assets were sold by Zena Energy, a subsidiary of LSB Industries.

The acquired assets include 34 wells and net production of about 6 million cubic feet per day (MMcf/d) and access to nearly 1,000 contiguous acres in Wyoming County.

With the latest purchase, Kalnin Ventures holds an interest in 241 active wells with six additional wells waiting on completion, and net production of more than 50 MMcf/d.

“Our goal since opening our doors has been to use big data and technology to identify strategic assets and apply our unique approach to managing non-operated assets,” said Christopher Kalnin, managing director and founder of Kalnin Ventures, in a statement.

“We continue to seek – and find – attractive opportunities and operating partners.  Looking toward the future, we will continue to operate in a space where we utilize technology and non-operator management to help improve operator performance and drive attractive risk adjusted returns for our investors,” he said.