BKV Corp Reports Strong Financial Results

By Chris Stiles • Wednesday, February 25 14:55 • Permanent Link

BKV Corporation (NYSE: BKV) has reported its financial and operational results for the fourth quarter and full year 2025. The company's net income attributable to BKV for the fourth quarter of 2025 was $70.4 million, or $0.75 per diluted share, compared to a net loss of $57.5 million in the same period in 2024. Adjusted net income for the fourth quarter of 2025 was $26.6 million, or $0.29 per diluted share, a significant improvement from an adjusted net loss of $4.9 million in the fourth quarter of 2024.

For the full year 2025, BKV reported net income attributable of $173.1 million, or $1.98 per diluted share, compared to a net loss of $142.9 million for the full year 2024. The adjusted net income for the full year 2025 was $121.6 million, or $1.40 per diluted share, a substantial increase from an adjusted net loss of $24.1 million in 2024.

The company generated combined adjusted EBITDAX attributable to BKV of $390.0 million for the full year 2025, including an implied 50% proportionate share of power JV adjusted EBITDA of $63.3 million. This represents a significant increase from the combined adjusted EBITDAX of $265.7 million in 2024.

BKV's average realized natural gas price for the fourth quarter of 2025 was $2.86/mmbtu, compared to $2.50/mmbtu in the same period in 2024. For the full year 2025, the average realized natural gas price was $2.78/mmbtu, up from $2.33/mmbtu in 2024.

In terms of operational results, the company's total power generation from the power JV's temple plants was 1,864 GWh for the fourth quarter of 2025, compared to 1,228 GWh in the same period in 2024. For the full year 2025, the total power generation was 7,611 GWh, up from 7,360 GWh in 2024. The capacity factor for the power JV's temple plants also showed improvement, reaching 59.0% for the full year 2025, compared to 55.1% in 2024.

Furthermore, the Barnett Zero project, focused on carbon capture, utilization, and sequestration (CCUS), reported the sequestration of approximately 25,100 metric tons of CO2 during the fourth quarter of 2025, and about 138,300 metric tons of CO2 for the full year 2025. The Eagle Ford and Cotton Cove projects also remain on schedule, with significant developments expected in 2026.

Following these announcements, the company's shares moved 2.94%, and are now trading at a price of $26.25. For more information, read the company's full 8-K submission here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.