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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 152,192 $ 248,427 [1]
Restricted cash 16,067 15,846 [1]
Prepaid expenses 10,030 14,720 [1]
Inventory 17,967 20,039 [1]
Commodity derivative assets, current 99,388 63,900 [1]
Other current assets 10,736 8,150 [1]
Total current assets 457,833 511,355 [1]
Natural gas properties and equipment    
Developed properties 3,057,987 2,965,638 [1]
Undeveloped properties 13,361 13,182 [1]
Midstream assets 279,554 277,974 [1]
Accumulated depreciation, depletion, and amortization (922,083) (849,464) [1]
Total natural gas properties, net 2,428,819 2,407,330 [1]
Other property, plant, and equipment, net 1,096,116 944,412 [1]
Deposits 171,867 14,247 [1]
Goodwill 18,417 18,417 [1]
Commodity derivative assets 45,749 26,432 [1]
Other noncurrent assets 16,379 17,064 [1]
Total assets 4,235,180 3,939,257 [1]
Current liabilities    
Accounts payable and accrued liabilities 194,823 229,487 [1]
Commodity derivative liabilities, current 9,698 8,469 [1]
Income taxes payable to related party 0 810 [1]
Payable to BPPUS for the BKV-BPP Power Joint Venture Transaction 0 115,136 [1]
Current portion of Temple I Loan Agreements 176,000 191,000 [1]
Current portion of long-term debt, net 9,387 9,387 [1]
Other current liabilities 8,797 10,302 [1]
Total current liabilities 398,705 564,591 [1]
Asset retirement obligations 200,604 230,372 [1]
Commodity derivative liabilities 0 5,767 [1]
Deferred tax liability, net 160,290 128,839 [1]
Long-term debt, net 1,064,454 937,724 [1]
Other noncurrent liabilities 7,857 5,223 [1]
Total liabilities 1,831,910 1,872,516 [1]
Commitments and contingencies (Note 11) [1]
Mezzanine equity    
Noncontrolling interest 30,224 12,951 [2]
Stockholders' equity    
Common stock, $0.01 par value; 500,000 authorized shares; 109,417 and 96,872 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 1,760 1,635 [1]
Treasury stock, shares at cost; 214 shares as of June 30, 2026 and December 31, 2025 (6,663) (6,663) [1]
Additional paid-in capital 1,875,615 1,681,785 [1]
Retained earnings 426,391 309,051 [1]
Total stockholders' equity 2,297,103 1,985,808 [1]
Noncontrolling interest 75,943 67,982 [1]
Total equity 2,373,046 2,053,790 [2]
Total liabilities, mezzanine equity, and equity 4,235,180 3,939,257 [1]
Nonrelated Party    
Current assets    
Accounts receivable 141,125 129,077 [1]
Related Party    
Current assets    
Accounts receivable $ 10,328 $ 11,196 [1]
[1] The financial information presented in this Quarterly Report on Form 10-Q has been retrospectively adjusted for the BKV-BPP Power Joint Venture Transaction, which was accounted for as a transaction between entities under common control, with prior periods recast as if the transaction had occurred at the beginning of the earliest period presented. See Note 2 - Acquisition for further information.
[2] The financial information presented in this Quarterly Report on Form 10-Q has been retrospectively adjusted for the BKV-BPP Power Joint Venture Transaction, which was accounted for as a transaction between entities under common control, with prior periods recast as if the transaction had occurred at the beginning of the earliest period presented. See Note 2 - Acquisition for further information.