v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 248,427 $ 81,223
Restricted cash 15,846 15,775
Prepaid expenses 14,720 15,694
Inventory 20,039 20,130
Commodity derivative assets, current 63,900 8,884
Other current assets 8,150 6,718
Total current assets 511,355 234,981
Natural gas properties and equipment    
Developed properties 2,965,638 2,315,167
Undeveloped properties 13,182 10,757
Midstream assets 277,974 276,644
Accumulated depreciation, depletion, and amortization (849,464) (714,287)
Total natural gas properties, net 2,407,330 1,888,281
Other property, plant, and equipment, net 944,412 936,797
Deposits 14,247 7,037
Goodwill 18,417 18,417
Commodity derivative assets 26,432  
Other noncurrent assets 17,064 13,264
Total assets 3,939,257 3,098,777
Current liabilities    
Accounts payable and accrued liabilities 229,487 162,524
Contingent consideration payable   20,000
Commodity derivative liabilities, current 8,469 40,093
Income taxes payable to related party 810 1,438
Payable to BPPUS for the BKV-BPP Power Joint Venture Transaction 115,136  
Current portion of Temple I Loan Agreements 191,000  
Current portion of long-term debt, net 9,387 9,387
Other current liabilities 10,302 3,263
Total current liabilities 564,591 236,705
Asset retirement obligations 230,372 198,795
Commodity derivative liabilities 5,767 47,586
Payable to BPPUS for the BKV-BPP Power Joint Venture Transaction   115,136
Deferred tax liability, net 128,839 92,750
Noncurrent portion of Temple I Loan Agreements   210,000
Long-term debt, net 937,724 639,816
Other noncurrent liabilities 5,223 5,469
Total liabilities 1,872,516 1,546,257
Commitments and contingencies (Note 16)
Mezzanine equity    
Noncontrolling interest 12,951  
Stockholders' equity    
Common stock, $0.01 par value; 500,000 authorized shares; 96,872 and 84,600 shares issued and outstanding as of December 31, 2025 and 2024, respectively 1,635 1,512
Treasury stock, shares at cost; 214 shares as of December 31, 2025 and 2024 (6,663) (6,663)
Additional paid-in capital 1,681,785 1,374,525
Retained earnings 309,051 131,317
Total stockholders' equity 1,985,808 1,500,691
Noncontrolling interest 67,982 51,829
Total equity 2,053,790 1,552,520
Total liabilities, mezzanine equity, and equity 3,939,257 3,098,777
Nonrelated Party    
Current assets    
Accounts receivable 129,077 71,680
Related Party    
Current assets    
Accounts receivable $ 11,196 $ 14,877