BKV Corp
For the period ended Sep 30, 2024. Filed Nov 13, 2024.
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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, 2024 · Filed Nov 13, 2024
BKV$18.42+5.0%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
| September 30, 2024 | December 31, 2023 | |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $31,318 | $25,407 |
| Restricted cash | — | 139,662 |
| Accounts receivable, net | 49,228 | 48,500 |
| Accounts receivable, related parties | 11,343 | 559 |
| Commodity derivative assets, current | 21,326 | 84,039 |
| Other current assets | 12,517 | 13,990 |
| Total current assets | 125,732 | 312,157 |
| Natural gas properties and equipment | ||
| Developed properties | 2,262,858 | 2,370,156 |
| Undeveloped properties | 10,544 | 15,846 |
| Midstream assets | 276,592 | 318,855 |
| Accumulated depreciation, depletion, and amortization | (672,483) | (579,415) |
| Total natural gas properties, net | 1,877,511 | 2,125,442 |
| Other property and equipment, net | 91,234 | 83,935 |
| Goodwill | 18,417 | 18,417 |
| Investment in joint venture | 132,352 | 104,750 |
| Commodity derivative assets | 4,318 | 18,508 |
| Other noncurrent assets | 17,993 | 19,937 |
| Total assets | $2,267,557 | $2,683,146 |
| Liabilities, mezzanine equity, and stockholders' equity | ||
| Current liabilities | ||
| Accounts payable and accrued liabilities | $112,183 | $149,173 |
| Contingent consideration payable | 19,703 | 20,000 |
| Income taxes payable to related party | 2,068 | 864 |
| Credit facilities | — | 127,000 |
| Current portion of long-term debt, net | — | 112,373 |
| Other current liabilities | 5,043 | 2,849 |
| Total current liabilities | 138,997 | 412,259 |
| Asset retirement obligations | 195,240 | 193,205 |
| Contingent consideration | — | 29,676 |
| Note payable to related party | — | 75,000 |
| Deferred tax liability, net | 105,252 | 136,524 |
| Long-term debt, net | 190,000 | 339,663 |
| Other noncurrent liabilities | 38,839 | 11,652 |
| Total liabilities | 668,328 | 1,197,979 |
| Commitments and contingencies ( Note 10 ) | ||
| Mezzanine equity | ||
| Common stock - minority ownership puttable shares; 0 and 2,403 authorized shares as of September 30, 2024 and December 31, 2023, respectively; and 0 and 2,403 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively | — | 59,988 |
| Equity-based compensation | — | 126,966 |
| Total mezzanine equity | — | 186,954 |
| Stockholders' equity | ||
| Common stock, $0.01 par value; 300,000 authorized shares; 83,899 and 63,873 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively | 1,505 | 1,283 |
| Treasury stock, shares at cost; 214 shares and 213 shares as of September 30, 2024 and December 31, 2023, respectively | (6,663) | (4,582) |
| Additional paid-in capital | 1,422,432 | 1,034,144 |
| Retained earnings | 181,955 | 267,368 |
| Total stockholders' equity | 1,599,229 | 1,298,213 |
| Total liabilities, mezzanine equity, and stockholders' equity | $2,267,557 | $2,683,146 |
| The accompanying notes are an integral part of these condensed consolidated financial statements. | 2 |
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