v3.26.1
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues and other operating income      
Revenues and other income   $ 1,037,781 $ 1,303,241
Derivative gains, net $ 379,869 207,460 290,724
Gain on sale of business   7,080  
Gains (losses) on sales of assets, net (1,805) 3,523 2,207
Total revenues and other operating income 1,530,589 1,037,781 1,303,241
Operating expenses      
Lease operating and workover 152,873 136,991 150,647
Fuel commodity costs 180,364 118,662 94,213
Purchased power 113,968 108,327 27,769
Taxes other than income 66,407 47,852 81,117
Gathering and transportation 250,849 222,391 248,990
Depreciation, depletion, amortization, and accretion 195,737 255,500 255,122
Power operating and maintenance 78,435 81,071 56,365
General and administrative 131,572 110,031 133,574
Other operating expenses 56,674 21,194 14,296
Total operating expenses 1,226,879 1,102,019 1,062,093
Income (loss) from operations 303,710 (64,238) 241,148
Other income (expense)      
Gains on contingent consideration liabilities   9,676 38,375
Interest income 4,109 7,348 4,724
Loss on early extinguishment of debt   (13,877)  
Other income 9,335 8,995 5,443
Income (loss) before income taxes 225,169 (175,813) 162,146
Income tax benefit (expense) (36,853) 42,433 (30,123)
Net income (loss) 188,316 (133,380) 132,023
Less: net income attributable to noncontrolling interest 9,160 5,271 8,467
Net income (loss) attributable to BKV $ 179,156 $ (138,651) $ 123,556
Net income (loss) per common share attributable to BKV:      
Basic (in USD per share) $ 2.05 $ (1.94) $ 2.03
Diluted (in USD per share) $ 2.05 $ (1.94) $ 1.92
Weighted average number of common shares outstanding:      
Basic (in shares) 86,581 71,288 60,730
Diluted (in shares) 86,823 71,288 64,380
Related Party      
Other income (expense)      
Interest expense $ (19,669) $ (27,496) $ (32,072)
Nonrelated Party      
Other income (expense)      
Interest expense (72,316) (96,221) (95,472)
Natural gas, NGL, and oil sales      
Revenues and other operating income      
Revenues and other income 857,597 557,570 706,151
Midstream revenues      
Revenues and other operating income      
Revenues and other income 10,456 12,560 16,168
Power revenues      
Revenues and other operating income      
Revenues and other income 248,752 218,268 274,623
Marketing revenues      
Revenues and other operating income      
Revenues and other income 12,304 10,668 8,710
Section 45Q tax credits      
Revenues and other operating income      
Revenues and other income 11,752 14,021 701
Other Revenue      
Revenues and other operating income      
Revenues and other income $ 11,664 $ 6,631 $ 3,957