BKV Corporation reported its financial and operational results for the fourth quarter and full year 2024. For the fourth quarter, the company recorded a net loss of $57.5 million, or $(0.68) per diluted share, influenced by unrealized hedging losses and losses from its equity affiliate. Adjusted Net Income for the quarter was $0.8 million, with Adjusted Free Cash Flow at $5.4 million.
Full year 2024 results showed a net loss of $142.9 million, or $(2.00) per diluted share, on total revenues of $581.0 million. Despite the net loss, BKV generated $91.6 million in Adjusted Free Cash Flow for the full year. Total hydrocarbon production for the fourth quarter was 774.5 MMcfe/d, exceeding the previously guided range of 720-750 MMcfe/d due to strong well performance and efficient development.
Looking ahead, BKV announced a substantial increase in its 2025 capital program, with total capital expenditures projected between $320 million and $380 million. This includes $205 million to $235 million for development capital and $115 million to $145 million for CCUS and other initiatives, reflecting a strategic ramp-up in investment. The company forecasts full-year 2025 net production to be between 755 MMcfe/d and 790 MMcfe/d.
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