Phoenix Energy One, LLC
For the period ended Sep 30, 2025. Filed Nov 12, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 12, 2025
PHXE-P$25.35+0.1%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets
(in thousands, except share amounts)
| September 30, 2025 | December 31, 2024 | |
|---|---|---|
| (unaudited) | ||
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | $95,452 | $120,814 |
| Accounts receivable | 73,876 | 28,218 |
| Earnest payments | 243 | 154 |
| Other current assets | 9,323 | 7,528 |
| Total current assets | 178,894 | 156,714 |
| Oil and gas properties | 1,700,819 | 1,006,221 |
| Accumulated depletion | (253,654) | (140,376) |
| Net oil and gas properties | 1,447,165 | 865,845 |
| Right-of-use assets, net | 9,814 | 6,010 |
| Other noncurrent assets | 4,601 | 501 |
| TOTAL ASSETS | $1,640,474 | $1,029,070 |
| LIABILITIES AND EQUITY (DEFICIT) | ||
| Current liabilities | ||
| Accounts payable | $139,520 | $41,824 |
| Accrued expenses | 38,607 | 41,466 |
| Current portion of long-term debt | 145,348 | 103,240 |
| Current portion of deferred closings | 8,626 | 7,189 |
| Escrow account | 3,994 | 16,356 |
| Current operating lease liabilities | 1,149 | 656 |
| Other current liabilities | 63,663 | 15,880 |
| Total current liabilities | 400,907 | 226,611 |
| Long-term debt, net of current portion | 1,127,454 | 795,215 |
| Accrued interest | 49,669 | 26,079 |
| Deferred closings | 2,935 | 3,324 |
| Operating lease liabilities | 9,918 | 5,860 |
| Asset retirement obligations | 2,508 | 1,181 |
| Other noncurrent liabilities | 462 | 4,858 |
| Total liabilities | 1,593,853 | 1,063,128 |
| Commitments and contingencies (Note 13) | ||
| Equity (deficit) | ||
| Series A preferred shares (2,704,023 and 0 shares issued and outstanding at an aggregate liquidation preference of $67.6 million and $0 at September 30, 2025 and December 31, 2024, respectively) | 47,934 | — |
| Member’s equity | 434 | 434 |
| Accumulated deficit | (1,747) | (34,492) |
| Total equity (deficit) | 46,621 | (34,058) |
| TOTAL LIABILITIES AND EQUITY (DEFICIT) | $1,640,474 | $1,029,070 |
| The accompanying notes are an integral part of these condensed consolidated financial statements. | 6 |
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