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Get filing alertsBKV reports Q2 net income of $75.8M, production above guidance at 978 MMcfe/d
Filed August 6, 2026 · Period ending August 6, 2026 · ~1 min read
Key Changes
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high
Q2 net income of $75.8M ($0.67/share) and adjusted EBITDAX of $142.0M; operating cash flow of $109.7M demonstrates strong cash generation from upstream operations.
Exhibit 99.1 view on EDGAR → -
high
Production averaged 978.3 MMcfe/d, exceeding high end of guidance; development capex of $72.4M came in below midpoint, generating $40.0M in adjusted free cash flow before power growth.
Exhibit 99.1 view on EDGAR → -
high
Full-year 2026 guidance updated with total capex of $690-875M and production expected at 940-960 MMcfe/d; Q3 production guided to 935-965 MMcfe/d.
Exhibit 99.1 view on EDGAR → -
medium
Temple power plants generated 2,222 GWh (up ~16% YoY) with strong capacity factors near 70%, but average power prices of $41.59/MWh fell short of expectations and declined from $45.10/MWh in Q2 2025.
Exhibit 99.1 view on EDGAR → -
medium
Commenced commercial operations at Cotton Cove and Eagle Ford CCUS projects, expected to sequester over 120,000 metric tons of CO₂ annually combined; Barnett Zero sequestered 28,300 metric tons in Q2.
Exhibit 99.1 view on EDGAR →
Summary
BKV reported solid second quarter results with net income of $75.8 million and production that exceeded the high end of guidance at 978.3 MMcfe/d. The company generated $109.7 million in operating cash flow and $40.0 million in adjusted free cash flow before power growth, demonstrating disciplined capital allocation with development spending below the midpoint of guidance.
The upstream business continues to perform well, meeting or exceeding operating targets. The power segment showed mixed results. Generation volumes increased approximately 16% year-over-year to 2,222 GWh with strong capacity factors near 70%, but average realized power prices of $41.59/MWh fell below expectations and declined from the prior year's $45.10/MWh. This pricing pressure partially offset the volume gains.
On the strategic front, BKV brought two new carbon capture projects online during the quarter, expanding its CCUS footprint to over 120,000 metric tons of annual sequestration capacity across the new facilities. The updated full-year guidance reflects continued execution across the business, with production expected at 940-960 MMcfe/d and total capital expenditures of $690-875 million split across development, power growth, and CCUS initiatives.
Section-by-Section Diff
Event · Exhibit 99.1
Added in current filing · verify on EDGAR →
Net income attributable to BKV of $75.8 million or $0.67 per diluted share
•Adjusted Net Income attributable to BKV of $50.7 million or $0.46 per diluted share
•Adjusted EBITDAX attributable to BKV of $142.0 million
•Net cash provided by operating activities of $109.7 million
BKV reported second quarter 2026 net income of $75.8 million ($0.67 per diluted share) and adjusted net income of $50.7 million ($0.46 per diluted share). Adjusted EBITDAX was $142.0 million, and operating cash flow was $109.7 million. The company met or exceeded operating targets while advancing strategic priorities including carbon capture and power generation.
Added in current filing · verify on EDGAR →
Commenced commercial operations at the Cotton Cove and Eagle Ford CCUS projects, which combined are expected to sequester more than 120,000 metric tons of CO₂ waste annually
BKV brought two new carbon capture projects online during Q2 2026. The Eagle Ford project is expected to sequester approximately 90,000 metric tons of CO₂ per year, while Cotton Cove is expected to sequester approximately 32,000 metric tons per year. The Barnett Zero project sequestered approximately 28,300 metric tons during the quarter.
Added in current filing · verify on EDGAR → · paraphrased
Total generation from the Power JV's Temple plants of 2,222 GWh
Total power generation (GWh) 2,222 1,913
Average power price ($/MWh) $ 41.59 $ 45.10
Average natural gas cost $ 2.68 $ 2.93
Average spark spread $ 22.31 $ 24.27
The Temple power plants generated 2,222 GWh in Q2 2026, up approximately 16% year-over-year, with strong capacity factors of 69.2% (Temple I) and 69.9% (Temple II). However, average power prices of $41.59/MWh were below expectations and down from $45.10/MWh in Q2 2025, partially offsetting the higher generation volumes. The average spark spread was $22.31.
Added in current filing · view on EDGAR →
Development (1) $55 - $75 $200 - $280
Power - Strategic Capital & Investments + Maintenance (1), (2) $125 - $175 $400 - $475
CCUS and other (2) $20 - $35 $90 - $120
Total capital expenditures $200 - $285 $690 - $875
Net production (MMcfe/d) 935 - 965 940 - 960
BKV updated full-year 2026 guidance with total capital expenditures of $690-875 million, including $200-280 million for development, $400-475 million for power strategic capital and investments, and $90-120 million for CCUS and other. Net production is expected to average 940-960 MMcfe/d for the full year and 935-965 MMcfe/d in Q3 2026.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 8, 2026 · How we verify