Baker Botts, Fox Rothschild Guide $750M BKV-Exxon Deal

By Gina Kim (May 20, 2022, 7:12 PM EDT) -- Natural gas operator BKV Corp., guided by Baker Botts and Fox Rothschild, has agreed to acquire Exxon Mobil Corp.'s North Texas properties for $750 million as part of its plan to expand its operations in the region, the parties announced Friday.

The deal is expected to close in the second quarter of 2022 and is subject to customary closing terms and conditions, according to a release issued by BKV. The company will acquire natural gas upstream and associated midstream infrastructure in the Barnett Shale region of North Texas from Exxon's subsidiaries, XTO Energy Inc. and Barnett Gathering LLC. 

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