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.
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Co St Op
Condensed Consolidated Statements of Operations
(in thousands, except per share amounts)
| Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Revenues and other operating income | ||
| Natural gas, NGL, and oil sales | $216,126 | $141,687 |
| Midstream revenues | 2,771 | 4,128 |
| Derivative losses, net | (152,191) | (3,679) |
| Marketing revenues | 6,485 | 4,921 |
| Section 45Q tax credits | 3,307 | 2,329 |
| Related party revenues | 426 | 1,101 |
| Other | 1,896 | 1,427 |
| Total revenues and other operating income | 78,820 | 151,914 |
| Operating expenses | ||
| Lease operating and workover | 35,055 | 34,468 |
| Taxes other than income | 10,222 | 11,365 |
| Gathering and transportation | 55,793 | 59,066 |
| Depreciation, depletion, amortization, and accretion | 39,970 | 52,166 |
| General and administrative | 25,257 | 20,645 |
| Other | 6,226 | 8,567 |
| Total operating expenses | 172,523 | 186,277 |
| Loss from operations | (93,703) | (34,363) |
| Other income (expense) | ||
| Gains on contingent consideration liabilities | — | 6,594 |
| Losses from equity affiliate | (9,585) | (7,707) |
| Interest expense | (5,052) | (16,083) |
| Interest expense, related party | — | (1,973) |
| Interest income | 149 | 1,633 |
| Other income | 336 | 335 |
| Loss before income taxes | (107,855) | (51,564) |
| Income tax benefit | 29,189 | 12,979 |
| Net loss | $(78,666) | $(38,585) |
| Net loss per common share: | ||
| Basic | $(0.93) | $(0.58) |
| Diluted | $(0.93) | $(0.58) |
| Weighted average number of common shares outstanding: | ||
| Basic | 84,706 | 66,287 |
| Diluted | 84,706 | 66,287 |
| The accompanying notes are an integral part of these condensed consolidated financial statements. | 12 |
|---|
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