BKV Corporation Reports Natural Gas Production and Financial Highlights

By Tamara Parker • Wednesday, November 13 15:15 • Permanent Link

BKV Corporation, a subsidiary of Banpu North America Corporation, has recently released its 10-Q report, detailing its operations in the natural gas and natural gas liquid properties. The company was founded in 2015 and is headquartered in Denver, Colorado. BKV Corporation focuses on natural gas production, gathering, processing, transportation, power generation, and carbon capture, utilization, and sequestration.

In the 10-Q report, BKV Corporation reported its operational and financial highlights for the three and nine months ended September 30, 2024. It stated that production of natural gas, NGLs, and oil was 70.2 Bcfe and 217.2 Bcfe for the three and nine months ended September 30, 2024, respectively. The company's average realized product prices, excluding the impact of settled derivatives, were $1.81 per Mcfe and $1.82 per Mcfe for the three and nine months ended September 30, 2024, respectively.

BKV Corporation's net income (loss) for the three and nine months ended September 30, 2024, was $12.9 million and $(85.4) million, respectively. The company reported net cash provided by operating activities for the nine months ended September 30, 2024, as $74.8 million, with accrued capital expenditures of $57.3 million for the same period.

The report also discussed factors affecting the comparability of BKV Corporation's financial condition and results of operations, including commodity pricing, supply and demand dynamics, and upstream capital costs. The company highlighted its reliance on derivative contracts to manage market exposure and mitigate commodity price risks associated with natural gas and NGL production.

Furthermore, the report provided a comparison of average pricing for natural gas, NGLs, and oil, excluding and including the effects of derivatives for the three and nine months ended September 30, 2024. It detailed the impact of commodity price decreases and lower production volumes on natural gas and NGL revenues for the three months ended September 30, 2024, compared to the same period in 2023.

As a result of these announcements, the company's shares have moved 0.7% on the market, and are now trading at a price of $20.84. For the full picture, make sure to review BKV's 10-Q report.

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