BKV Corp. and EnLink Midstream LLC will develop a carbon capture and sequestration (CCS) project in the Barnett Shale after reaching a Phase I Final Investment Decision (FID) on June 9, according to a BKV press release.

Under the agreement, EnLink will transport natural gas containing CO2 produced at BKV's Barnett Shale operations via its modified pipeline and facility infrastructure. The gas will be brought to EnLink's natural gas processing plant in Bridgeport, Texas, where the CO2 waste will be captured, compressed and sequestered through BKV's nearby injection well.

“It is critical that companies in the industry work together to bring actionable change and move large-scale carbon reduction projects forward,” BKV CEO Chris Kalnin said in the press release. “This partnership brings us one step closer to the safe and profitable production of net-zero green natural gas.”

The partnership aligns with BKV's recently formed dCarbon Ventures business unit, dedicated to driving sustainability and CCS innovations and project development. It is anticipated to offset BKV's current emissions by approximately 10%, helping the company toward its goal of reaching net-zero emissions by 2025 and EnLink's goal of a 30% reduction in CO2e emissions intensity by 2030.

“We are doing this the BKV way—which means taking action to address our own emissions rather than achieving our goal through the purchase of offsets alone," Lauren Read, vice president of dCarbon Venutre, added. "Carbon sequestration is a fundamental element in our sustainability plans, and we expect dCarbon Ventures to be an area of significant growth for BKV.”

Denver-based BKV is a privately held E&P company, ranking as one of the top 20 natural gas producers in the U.S. and the largest natural gas producer in the Barnett Shale.

Headquartered in Dallas, EnLink Midstream provides natural gas, crude oil, condensate, NGL capabilities and carbon capture, transportation and sequestration services to E&Ps in the Permian Basin, Oklahoma, North Texas and the Gulf Coast.