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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues and other operating income        
Derivative gains (losses), net $ 112,208 $ (7,486) $ (39,983) $ (11,165)
Gain on sale of business 0 5,968 0 5,968
Total revenues and other operating income 322,044 136,198 400,864 288,112
Operating expenses        
Lease operating and workover 34,176 34,172 69,231 68,640
Taxes other than income 13,404 9,850 23,626 21,215
Gathering and transportation 63,026 53,714 118,819 113,105
Depreciation, depletion, amortization, and accretion 38,044 59,313 78,014 111,479
General and administrative 30,516 19,296 55,773 39,941
Other 14,480 3,034 20,706 11,276
Total operating expenses 193,646 179,379 366,169 365,656
Income (loss) from operations 128,398 (43,181) 34,695 (77,544)
Other income (expense)        
Gains on contingent consideration liabilities 0 (524) 0 6,070
Earnings (losses) from equity affiliate 9,088 (15,253) (497) (22,960)
Loss on early extinguishment of debt 0 (13,877) 0 (13,877)
Interest income 162 1,771 311 3,404
Other income 440 15 776 350
Income (loss) before income taxes 132,630 (88,091) 24,775 (139,655)
Income tax benefit (expense) (27,895) 28,394 1,294 41,373
Net income (loss) 104,735 (59,697) 26,069 (98,282)
Less: net income (loss) attributable to noncontrolling interest 163 0 163 0
Net income (loss) $ 104,572 $ (59,697) $ 25,906 $ (98,282)
Net income (loss) per common share attributable to BKV:        
Basic (in USD per share) $ 1.23 $ (0.90) $ 0.30 $ (1.48)
Diluted (in USD per share) $ 1.23 $ (0.90) $ 0.30 $ (1.48)
Weighted average number of common shares outstanding:        
Basic (in shares) 84,710 66,349 84,708 66,318
Diluted (in shares) 84,834 66,349 84,789 66,318
Nonrelated Party        
Other income (expense)        
Interest expense $ (5,458) $ (15,163) $ (10,510) $ (31,246)
Related Party        
Other income (expense)        
Interest expense 0 (1,879) 0 (3,852)
Natural gas, NGL, and oil sales        
Revenues and other operating income        
Revenues and other income 199,729 125,854 415,855 267,541
Midstream revenues        
Revenues and other operating income        
Revenues and other income 2,739 3,378 5,510 7,506
Marketing revenues        
Revenues and other operating income        
Revenues and other income 1,372 2,046 7,857 6,967
Section 45Q tax credits        
Revenues and other operating income        
Revenues and other income 2,574 3,644 5,881 5,973
Related party revenues        
Revenues and other operating income        
Revenues and other income 425 1,101 851 2,203
Other        
Revenues and other operating income        
Revenues and other income $ 2,997 $ 1,693 $ 4,893 $ 3,119