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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 21,426 $ 14,868
Prepaid expenses 4,435 7,638
Inventory 6,960 6,255
Commodity derivative assets, current 556 0
Asset held for sale 5,500 0
Total current assets 98,436 94,610
Natural gas properties    
Developed properties 2,430,788 2,315,167
Undeveloped properties 10,739 10,757
Midstream assets 276,811 276,644
Accumulated depreciation, depletion, and amortization (780,001) (714,287)
Total natural gas properties, net 1,938,337 1,888,281
Other property and equipment, net 104,253 97,300
Goodwill 18,417 18,417
Investment in BKV-BPP Power 114,676 115,173
Commodity derivative assets 6,622 0
Other noncurrent assets 23,686 17,307
Total assets 2,304,427 2,231,088
Current liabilities    
Accounts payable and accrued liabilities 123,802 121,366
Contingent consideration payable 0 20,000
Commodity derivative liabilities, current 44,011 20,277
Income taxes payable to related party 2,265 1,438
Other current liabilities 4,653 3,124
Total current liabilities 174,731 166,205
Asset retirement obligations 204,331 198,795
Commodity derivative liabilities 45,645 47,357
Deferred tax liability, net 86,565 88,688
Long-term debt, net 200,000 165,000
Other noncurrent liabilities 5,097 5,469
Total liabilities 716,369 671,514
Commitments and contingencies (Note 11)
Mezzanine equity    
Noncontrolling interest (2,073) 0
Stockholders' equity    
Common stock, $0.01 par value; 500,000 authorized shares; 84,711 and 84,600 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 1,513 1,512
Treasury stock, shares at cost; 214 shares and 214 shares as of June 30, 2025 and December 31, 2024, respectively (6,663) (6,663)
Additional paid-in capital 1,452,602 1,447,671
Retained earnings 142,679 117,054
Total stockholders' equity 1,590,131 1,559,574
Total liabilities, mezzanine equity, and stockholders' equity 2,304,427 2,231,088
Nonrelated Party    
Current assets    
Accounts receivable 47,948 54,435
Related Party    
Current assets    
Accounts receivable $ 11,611 $ 11,414