Update: BKV Shares Rise After Signing Equipment Supply Contract for Potential Power Project in Texas

MT newswire2026/10/07 18:12

02:12 PM EDT, 10/07/2026 (MT Newswires) -- (Updates with the latest stock price movement in the headline and first paragraph.) BKV (BKV) shares rose nearly 7% in Wednesday trading after the company said its subsidiary signed a contract for the supply of natural gas-fired power generation equipment that will be used at BKV's prospective power generation project in Texas. BKV said it also signed a backstop agreement with an undisclosed hyperscaler that agreed to reimburse a portion of the costs related to the equipment and certain project work. The hyperscaler is the targeted off-taker for the potential power generation project, the company added. Financial details of both deals were not disclosed. BKV said the deal with the supplier will cover about 1,200 megawatts of power generation equipment, with deliveries to start in September 2028, while the backstop agreement will settle roughly 90% of payments owed through March 31, 2027, under the supply contract. The company said it may terminate the equipment supply contract if it fails to reach off-take arrangements with the hyperscaler by March 31, 2027. Price: 23.59, Change: +1.54, Percent Change: +6.98

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Update: BKV Shares Rise After Signing Equipment Supply Contract for Potential Power Project in Texas

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