BKV Corp
For the period ended Jun 30, 2025. Filed Aug 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.
Jun 30, 2025 · Filed Aug 12, 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 S o Ca F
Condensed Consolidated Statements of Cash Flows
| Six Months Ended June 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $26,069 | $(98,282) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Depreciation, depletion, amortization, and accretion | 78,201 | 111,650 |
| Equity-based compensation expense | 6,136 | 2,145 |
| Deferred income tax benefit | (2,123) | (41,800) |
| Unrealized losses on derivatives, net | 31,050 | 79,100 |
| Gains on contingent consideration liabilities | — | (6,070) |
| 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) | — |
| Gain on sale of business | — | (5,968) |
| Gains on sales of assets | (1,208) | (816) |
| Transaction costs from sale of business | — | (3,461) |
| Impairment of asset held for sale | 2,446 | — |
| Losses from equity affiliate | 497 | 22,960 |
| Loss on early extinguishment of debt | — | 13,877 |
| Other, net | 2,986 | 1,341 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable, net | 6,487 | (11,756) |
| Accounts receivable, related party | (197) | (7,231) |
| Accounts payable and accrued liabilities | (17,539) | (48,891) |
| Other changes in operating assets and liabilities | 2,184 | (518) |
| Net cash provided by operating activities | 98,783 | 9,782 |
| Cash flows from investing activities: | ||
| Capital expenditures | (123,669) | (31,608) |
| Deposit on fixed asset purchase | (7,500) | — |
| Proceeds from sale of business | — | 131,708 |
| Proceeds from sales of assets | 1,258 | 1,556 |
| Other investing activities, net | 257 | (23) |
| Net cash provided by (used in) investing activities | (129,654) | 101,633 |
| Cash flows from financing activities: | ||
| Payments on notes payable to related party | — | (25,000) |
| Proceeds under RBL Credit Agreement | 355,000 | 425,000 |
| Payments on RBL Credit Agreement | (320,000) | (65,000) |
| Payment on term loan agreement | — | (456,000) |
| Payment of debt issuance costs | (720) | (8,054) |
| Proceeds from draws on credit facilities | — | 44,000 |
| Payments on credit facilities | — | (171,000) |
| Payments of deferred offering costs | — | (1,020) |
| Debt extinguishment costs | — | (10,213) |
| Net share settlements, equity-based compensation | (1,204) | — |
| Cash contributions from noncontrolling interest | 4,353 | — |
| Net cash provided by (used in) financing activities | 37,429 | (267,287) |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 6,558 | (155,872) |
| Cash, cash equivalents, and restricted cash, beginning of period | 14,868 | 165,069 |
| Cash and cash equivalents, end of period | $21,426 | $9,197 |
| The accompanying notes are an integral part of these condensed consolidated financial statements. | 13 |
|---|
Condensed Consolidated Statements of Cash Flows
| Six Months Ended June 30, | ||
|---|---|---|
| Supplemental cash flow information: | 2025 | 2024 |
| Cash payments for: | ||
| Interest | $9,010 | $44,414 |
| Income tax | $197 | $6 |
| Non-cash investing and financing activities: | ||
| Increase in accrued capital expenditures | $13,105 | $1,296 |
| Additions to asset retirement obligations | $80 | $21 |
| Lease liabilities arising from obtaining right-of-use assets | $— | $494 |
| Decrease in accrued offering costs | $— | $(341) |
| Adjustment of minority ownership puttable shares to redemption value | $— | $488 |
| Adjustment of equity-based compensation to redemption value | $— | $301 |
| Accretion of Class B Units to redemption value | $281 | $— |
| Distributions payable to noncontrolling interest | $6,870 | $— |
| The accompanying notes are an integral part of these condensed consolidated financial statements. | 14 |
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