BKV Corp
For the period ended Sep 30, 2025. Filed Nov 10, 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 10, 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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Condensed Consolidated Balance Sheets
| September 30, 2025 | December 31, 2024 | |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $83,115 | $14,868 |
| Accounts receivable, net | 87,187 | 54,435 |
| Accounts receivable, related parties | 11,380 | 11,414 |
| Prepaid expenses | 3,509 | 7,638 |
| Inventory | 6,422 | 6,255 |
| Commodity derivative assets, current | 9,523 | — |
| Other current assets | 408 | — |
| Total current assets | 201,544 | 94,610 |
| Natural gas properties | ||
| Developed properties | 2,883,969 | 2,315,167 |
| Undeveloped properties | 10,830 | 10,757 |
| Midstream assets | 276,849 | 276,644 |
| Accumulated depreciation, depletion, and amortization | (812,963) | (714,287) |
| Total natural gas properties, net | 2,358,685 | 1,888,281 |
| Other property and equipment, net | 124,089 | 97,300 |
| Goodwill | 18,417 | 18,417 |
| Investment in BKV-BPP Power | 135,726 | 115,173 |
| Commodity derivative assets | 15,470 | — |
| Other noncurrent assets | 38,288 | 17,307 |
| Total assets | $2,892,219 | $2,231,088 |
| Liabilities, mezzanine equity, and equity | ||
| Current liabilities | ||
| Accounts payable and accrued liabilities | $215,501 | $121,366 |
| Contingent consideration payable | — | 20,000 |
| Commodity derivative liabilities, current | 8,832 | 20,277 |
| Income taxes payable to related party | 2,333 | 1,438 |
| Other current liabilities | 9,454 | 3,124 |
| Total current liabilities | 236,120 | 166,205 |
| Asset retirement obligations | 227,678 | 198,795 |
| Commodity derivative liabilities | 22,735 | 47,357 |
| Deferred tax liability, net | 106,496 | 88,688 |
| Long-term debt, net | 486,559 | 165,000 |
| Other noncurrent liabilities | 6,618 | 5,469 |
| Total liabilities | 1,086,206 | 671,514 |
| Commitments and contingencies (Note 11) | ||
| Mezzanine equity | ||
| Noncontrolling interest | 6,012 | — |
| Stockholders' equity | ||
| Common stock, $0.01 par value; 500,000 authorized shares; 89,972 and 84,600 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively | 1,566 | 1,512 |
| Treasury stock, shares at cost; 214 shares as of September 30, 2025 and December 31, 2024 | (6,663) | (6,663) |
| Additional paid-in capital | 1,579,307 | 1,447,671 |
| Retained earnings | 218,992 | 117,054 |
| Total stockholders' equity | 1,793,202 | 1,559,574 |
| Noncontrolling interest | 6,799 | — |
| Total equity | 1,800,001 | 1,559,574 |
| Total liabilities, mezzanine equity, and equity | $2,892,219 | $2,231,088 |
| The accompanying notes are an integral part of these condensed consolidated financial statements. | 11 |
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