Press Release: BKV Corporation Reports Third Quarter 2024 Financial and Operational Results

Dow Jones

2024-11-12

The table below presents our reconciliation of Power JV Adjusted EBITDA to its net income (loss), the most directly comparable GAAP financial measure for the periods indicated.

 
                     Three Months Ended         Nine Months Ended 
                        September 30,             September 30, 
                  -------------------------  ------------------------ 
(in thousands)        2024          2023         2024         2023 
                  -------------  ----------  ------------  ---------- 
Net income        $ 101,124      $   98,135  $ 55,204      $   69,584 
Add back: 
   Unrealized 
    derivative 
    (gains) 
    losses         (108,858)         46,904   (72,053)         66,992 
   Depreciation 
    and 
    amortization      9,487          10,155    28,439          20,980 
   Interest 
    expense          18,437          18,471    55,386          31,841 
                   --------       ---------   -------       --------- 
Adjusted EBITDA   $  20,190      $  173,665  $ 66,976      $  189,397 
                   ========       =========   =======       =========

View source version on businesswire.com: https://www.businesswire.com/news/home/20241111200586/en/

 
    CONTACT:    Investor Contacts:

David Tameron

BKV Corporation

Vice President, Strategic Finance and Investor Relations

InvestorRelations@bkvcorp.com

Caldwell Bailey

ICR, Inc.

BKVIR@ircinc.com

(END) Dow Jones Newswires

November 12, 2024 07:10 ET (12:10 GMT)

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPress Release: BKV Corporation Reports Third Quarter 2024 Financial and Operational Results\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-11-12 20:10</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     The table below presents our reconciliation of Power JV Adjusted EBITDA to its net income (loss), the most directly comparable GAAP financial measure for the periods indicated. \n</p>\n<pre>\n \n                     Three Months Ended         Nine Months Ended \n                        September 30,             September 30, \n                  -------------------------  ------------------------ \n(in thousands)        2024          2023         2024         2023 \n                  -------------  ----------  ------------  ---------- \nNet income        $ 101,124      $   98,135  $ 55,204      $   69,584 \nAdd back: \n   Unrealized \n    derivative \n    (gains) \n    losses         (108,858)         46,904   (72,053)         66,992 \n   Depreciation \n    and \n    amortization      9,487          10,155    28,439          20,980 \n   Interest \n    expense          18,437          18,471    55,386          31,841 \n                   --------       ---------   -------       --------- \nAdjusted EBITDA   $  20,190      $  173,665  $ 66,976      $  189,397 \n                   ========       =========   =======       ========= \n \n</pre>\n<p>\n     View source version on businesswire.com: https://www.businesswire.com/news/home/20241111200586/en/ \n</p>\n<pre>\n \n    CONTACT:    Investor Contacts: \n</pre>\n<p>\n     David Tameron \n</p>\n<p>\n     BKV Corporation \n</p>\n<p>\n     Vice President, Strategic Finance and Investor Relations \n</p>\n<p>\n     InvestorRelations@bkvcorp.com \n</p>\n<p>\n     Caldwell Bailey \n</p>\n<p>\n     ICR, Inc. \n</p>\n<p>\n     BKVIR@ircinc.com \n</p>\n<pre>\n \n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 12, 2024 07:10 ET (12:10 GMT)\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4213","symbol_name":"石油与天然气的勘探与生产","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2482703879","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2482703879","pubTimestamp":1731413400,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"BKV Corporation  , today reported financial and operational results for the third quarter of 2024, its first earnings report as a publicly traded company.Completed initial public offering of 15,000,000 shares of common stock. Net income of $12.9 million, or $0.18 per diluted share. Net cash provided by operating activities of $65.0 million, Adjusted. Free Cash Flow of $19.6 million, and Adjusted Free Cash Flow Margin of. For the third quarter of 2024, total revenues and other operating income for BKV was $173.1 million. This compares to total revenues and other operating income of $191.4 million for the third quarter of 2023. The decrease was due primarily to lower natural gas prices, excluding hedges, as well as lower production volumes. For the nine months ended September 30, 2024 and 2023 total revenues and other operating income were $461.2 million and $678.0 million, respectively. The decrease in revenue was largely due to production volumes as well as unrealized losses during 202","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4213":"石油与天然气的勘探与生产","BKV":"BKV Corp."},"translate_title":"新闻稿：BKV Corporation报告2024年第三季度财务和运营业绩","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BKV":1},"content_text":"The table below presents our reconciliation of Power JV Adjusted EBITDA to its net income (loss), the most directly comparable GAAP financial measure for the periods indicated. \n\n\n \n                     Three Months Ended         Nine Months Ended \n                        September 30,             September 30, \n                  -------------------------  ------------------------ \n(in thousands)        2024          2023         2024         2023 \n                  -------------  ----------  ------------  ---------- \nNet income        $ 101,124      $   98,135  $ 55,204      $   69,584 \nAdd back: \n   Unrealized \n    derivative \n    (gains) \n    losses         (108,858)         46,904   (72,053)         66,992 \n   Depreciation \n    and \n    amortization      9,487          10,155    28,439          20,980 \n   Interest \n    expense          18,437          18,471    55,386          31,841 \n                   --------       ---------   -------       --------- \nAdjusted EBITDA   $  20,190      $  173,665  $ 66,976      $  189,397 \n                   ========       =========   =======       ========= \n \n\n\n     View source version on businesswire.com: https://www.businesswire.com/news/home/20241111200586/en/ \n\n\n \n    CONTACT:    Investor Contacts: \n\n\n     David Tameron \n\n\n     BKV Corporation \n\n\n     Vice President, Strategic Finance and Investor Relations \n\n\n     InvestorRelations@bkvcorp.com \n\n\n     Caldwell Bailey \n\n\n     ICR, Inc. \n\n\n     BKVIR@ircinc.com \n\n\n \n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 12, 2024 07:10 ET (12:10 GMT)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}