BKV Corporation (NYSE:BKV) posted stronger-than-expected second-quarter results on Tuesday, buoyed by robust operational performance across all segments of its natural gas business. Adjusted earnings came in at $0.39 per share, ahead of analyst forecasts.
Quarterly revenue reached $322.0 million, which included $9.3 million in realized hedging gains. Despite the earnings beat, BKV shares dipped 0.22% in after-hours trading.
Net income attributable to the company totaled $104.6 million, or $1.23 per diluted share, boosted by $102.9 million in unrealized hedging gains. Average net production for the quarter was 811.0 MMcfe/d, surpassing the company’s prior guidance of 775–805 MMcfe/d.
“The second quarter was another step forward for our unique closed-loop strategy, with strong execution across our core operations,” said CEO Chris Kalnin. “Our upstream segment was a standout, with production exceeding targets while capital spending stayed at the low end of our range.”
BKV also announced a $370 million deal to acquire Barnett Shale assets from Bedrock Energy Partners, adding roughly 97,000 net acres and an estimated 108 MMcfe/d of production capacity.
For 2025, the company lifted its full-year production forecast to 790–810 MMcfe/d, a 4% increase at the midpoint, while trimming its capital expenditure outlook by 9% to between $290 million and $350 million.
In its power segment, the company’s joint venture reported capacity factors of 64.0% for Temple I and 54.8% for Temple II, generating a combined 1,913 GWh during the quarter. BKV’s proportional share of the JV’s net earnings was $9.1 million.
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