Net Loss per Share and Net Loss per Unit (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

Based on the amounts outstanding at September 30, 2023 (Successor), the Company excluded the following financial instruments from the computation of diluted net loss per unit because their inclusion would be anti-dilutive due to the losses reported in the Successor Period:


Anti-Dilutive Instrument						September 30, 2023 (Successor)
Public Warrants						8,622,235
Private Placement Warrants						10,900,000
Earnout Shares						328,925
BHES Bonus Shares						2,068,416
Unvested Class A OpCo Units						972,522
Vested Class A OpCo Units						140,747,943
Unvested RSU's						440,423
Total						164,080,464

Based on the amounts outstanding at September 30, 2022 (Predecessor), the Company excluded the following potential membership interests from the computation of diluted net loss per unit because their inclusion would be anti-dilutive due to the losses reported in the Predecessor Period:


Anti-Dilutive Instrument						September 30, 2022 (Predecessor)
Profits Interests						450,013
Member Loan Share Options						34,588
Occidental Petroleum Share Options						711,111
Total						1,195,712

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth the computation of the Company’s basic and diluted net loss per share for the period from June 8, 2023 through September 30, 2023 (Successor):


	Class A
Numerator
Net loss	$	(202,551)
Net loss attributable to shareholders	$	(65,564)
Denominator
Weighted-average number shares outstanding, basic and diluted	68,644,032
Net loss per share attributable to shareholders, basic and diluted	$	(0.96)

The following table sets forth the computation of the Company’s basic and diluted net loss per unit for the three month and nine month periods ended September 30, 2022 (Predecessor) and for the period from January 1, 2023 through June 7, 2023 (Predecessor), respectively:


	Period from July 1 - September 30, 2023 (Successor)		Three Months Ended September 30, 2022 (Predecessor)		Period from June 8 - September 30, 2023 (Successor)		Period from January 1 - June 7, 2023 (Predecessor)		Nine Months Ended September 30, 2022 (Predecessor)
Numerator
Net loss	$	(30,564)	$	(12,220)	$	(65,564)	$	(34,176)	$	(37,335)
Net loss attributable to membership interest holders	$	(30,564)	$	(12,220)	$	(65,564)	$	(34,176)	$	(37,335)

Denominator
Weighted-average number membership interests outstanding, basic and diluted	68,966,972		1,143,430		68,644,032		3,766,871		2,838,388
Net loss per unit attributable to membership interest holders, basic and diluted	$	(0.44)	$	(10.69)	$	(0.96)	$	(9.07)	$	(13.15)