BKV Corp
For the period ended Mar 31, 2025. Filed May 9, 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.
Mar 31, 2025 · Filed May 9, 2025
BKV$17.55-3.0%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Co Sa F
Condensed Consolidated Statements of Cash Flows
| Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities: | ||
| Net loss | $(78,666) | $(38,585) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||
| Depreciation, depletion, amortization, and accretion | 40,063 | 52,259 |
| Equity-based compensation expense | 2,067 | 1,073 |
| Deferred income tax benefit | (29,619) | (13,122) |
| Unrealized losses on derivatives, net | 133,985 | 40,143 |
| Gains on contingent consideration liabilities | — | (6,594) |
| Settlement of contingent consideration | (20,000) | (20,000) |
| Proceeds from the sale of call options | — | 23,502 |
| Payments for the purchase of put options | (16,206) | — |
| Impairment of asset held for sale | 2,446 | — |
| Losses from equity affiliate | 9,585 | 7,707 |
| Other, net | (187) | 743 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable, net | (6,823) | (6,195) |
| Accounts receivable, related party | (311) | (741) |
| Accounts payable and accrued liabilities | (16,523) | (20,701) |
| Other changes in operating assets and liabilities | 2,809 | (238) |
| Net cash provided by operating activities | 22,620 | 19,251 |
| Cash flows from investing activities: | ||
| Capital expenditures | (57,374) | (19,861) |
| Proceeds from sales of assets | 1,109 | — |
| Other investing activities, net | 257 | (23) |
| Net cash used in investing activities | (56,008) | (19,884) |
| Cash flows from financing activities: | ||
| Proceeds under RBL Credit Agreement | 170,000 | — |
| Payments on RBL Credit Agreement | (135,000) | — |
| Proceeds from draws on credit facilities | — | 30,000 |
| Payments on credit facilities | — | (31,000) |
| Payments of deferred offering costs | — | (590) |
| Net share settlements, equity-based compensation | (1,181) | — |
| Net cash provided by (used in) financing activities | 33,819 | (1,590) |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 431 | (2,223) |
| Cash, cash equivalents, and restricted cash, beginning of period | 14,868 | 165,069 |
| Cash, cash equivalents, and restricted cash, end of period | $15,299 | $162,846 |
| The accompanying notes are an integral part of these condensed consolidated financial statements. | 13 |
|---|
Condensed Consolidated Statements of Cash Flows
| Three Months Ended March 31, | ||
|---|---|---|
| Supplemental cash flow information: | 2025 | 2024 |
| Cash payments for: | ||
| Interest | $4,487 | $3,988 |
| Non-cash investing and financing activities: | ||
| Increase (decrease) in accrued capital expenditures | $628 | $(1,833) |
| Additions to asset retirement obligations | $35 | $20 |
| Lease liabilities arising from obtaining right-of-use assets | $— | $494 |
| Decrease in accrued offering costs | $— | $(142) |
| Adjustment of minority ownership puttable shares to redemption value | $— | $1,548 |
| Adjustment of equity-based compensation to redemption value | $— | $495 |
| The accompanying notes are an integral part of these condensed consolidated financial statements. | 14 |
|---|
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