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 Statements of Operations
(in thousands)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| REVENUES | ||||
| Product sales | $113,761 | $23,923 | $295,290 | $57,913 |
| Mineral and royalty revenues | 31,300 | 34,343 | 93,171 | 119,931 |
| Purchased crude oil sales | 40,436 | — | 71,236 | — |
| Water services | 3,308 | 728 | 8,508 | 1,632 |
| Other revenue | 216 | 46 | 397 | 74 |
| Total revenues | 189,021 | 59,040 | 468,602 | 179,550 |
| OPERATING EXPENSES | ||||
| Cost of sales | 42,920 | 17,407 | 105,172 | 40,334 |
| Depreciation, depletion, amortization, and accretion | 45,550 | 15,541 | 113,392 | 53,316 |
| Purchased crude oil expenses | 39,623 | — | 69,975 | — |
| Selling, general, and administrative | 5,540 | 8,941 | 21,435 | 22,052 |
| Payroll and payroll-related | 6,437 | 4,930 | 22,459 | 15,662 |
| Advertising and marketing | 694 | 189 | 1,531 | 350 |
| Loss on sale of assets | — | — | — | 564 |
| Impairment expense | 1,987 | 528 | 2,509 | 528 |
| Total operating expenses | 142,751 | 47,536 | 336,473 | 132,806 |
| INCOME FROM OPERATIONS | 46,270 | 11,504 | 132,129 | 46,744 |
| OTHER INCOME (EXPENSE) | ||||
| Interest income | 303 | 261 | 1,355 | 316 |
| Interest expense, net | (38,816) | (26,201) | (111,690) | (61,116) |
| Gain on derivatives | 2,065 | 3,716 | 12,907 | 3,630 |
| Loss on debt extinguishment | (1,334) | (567) | (1,916) | (868) |
| Total other expenses | (37,782) | (22,791) | (99,344) | (58,038) |
| NET INCOME (LOSS) | $8,488 | $(11,287) | $32,785 | $(11,294) |
| The accompanying notes are an integral part of these condensed consolidated financial statements. | 7 |
|---|
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