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Earnings Per Share
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Earnings Per Share
Note 13 - Earnings Per Share
Basic net income (loss) per common share attributable to BKV for each period is calculated by dividing net income (loss) attributable to BKV, adjusted for accretion to redemption value of the Class B Units, by the basic weighted average number of common shares outstanding during the period. Diluted net income (loss) per common share attributable to BKV is calculated by dividing net income (loss) attributable to BKV, adjusted for accretion to redemption value of the Class B Units, by the diluted weighted average number of common shares outstanding for the respective period. Any remeasurement of the accretion to redemption value of the Class B Units subject to possible redemption was considered to be dividends paid to the Class B Member. Accordingly, accretion is deducted from net income (loss) in the calculation of earnings per share. Diluted weighted average number of common shares outstanding and the dilutive effect of potential common shares is calculated using the treasury method. The Company includes potential shares of common stock for PRSUs and TRSUs in the calculation of diluted weighted average
shares outstanding based on the number of common shares that would be issuable if the end of the reporting period was also the end of the performance period. During periods in which the Company incurred a net loss, diluted weighted average common shares outstanding were equal to basic weighted average of common shares outstanding because the effects of all potential common shares was anti-dilutive.
The following is the calculation of basic and diluted net income (loss) per common share attributable to BKV for the three and six months ended June 30, 2026 and 2025:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands, except per share amounts)2026202520262025
Net income attributable to BKV$75,806 $107,768 $119,881 $25,789 
Accretion of Class B Units to redemption value(1,800)(281)(2,541)(281)
Net income including accretion of Class B Units to redemption value$74,006 $107,487 $117,340 $25,508 
Basic weighted average common shares outstanding109,395 84,710 105,727 84,708 
Add: dilutive effect of TRSUs187 124 170 81 
Add: dilutive effect of PRSUs190 — 161 — 
Diluted weighted average of common shares outstanding109,772 84,834 106,058 84,789 
Net income per common share attributable to BKV:
Basic$0.68 $1.27 $1.11 $0.30 
Diluted$0.67 $1.27 $1.11 $0.30