BKV — what changed in the latest 10-Q
A section-by-section comparison of BKV's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-06 vs the prior 10-Q · 2026-05-07
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +101 | −59 | ~26 | 41 |
| Market risk (Item 3) | Text added/removed | +6 | −6 | ~4 | 5 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 1 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | +2 | −1 | 0 | 1 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-06
•Initial injection at Cotton Cove and Eagle Ford CCUS Projects. The Cotton Cove project owned by our BKV-BPP Cotton Cove Joint Venture commenced commercial CO2 sequestration operations on April 2, 2026, and the Eagle Ford project owned by our BKV-CIP Joint Venture commenced commercial CO2 sequestrat…
Below are some highlights of our operating and financial results for the three and six months ended June 30, 2026:
•Production of natural gas, NGLs, and oil was 89.0 Bcfe, or 978.3 MMcfe/d and 172.3 Bcfe, or 951.8 MMcfe/d, respectively.
•Average realized product prices, excluding the impact of settled derivatives, were $2.49 per Mcfe and $2.96 per Mcfe, respectively.
•Power generation of 2,222 GWh and 4,203 GWh, respectively, from the Temple Plants and capacity factors of 69.6% and 66.0%, respectively.
Text removed vs the prior filing · source: 10-Q · 2026-05-07
•BKV-BPP Power Joint Venture Transaction. On January 30, 2026, we completed the previously announced acquisition of an additional 25% interest in the BKV-BPP Power Joint Venture for aggregate consideration consisting of $115.1 million in cash and 5,315,390 shares of our common stock. We funded the c…
•2026 Equity Offering. On March 12, 2026, we completed the 2026 Equity Offering for net proceeds to the Company of $186.2 million, which were used for general corporate purposes, including working capital, operating expenses and capital expenditures. For additional information, see Note 9 - Stockhol…
Below are some highlights of our operating and financial results for the three months ended March 31, 2026:
•Production of natural gas, NGLs, and oil was 83.3 Bcfe, or 925.0 MMcfe/d, respectively.
•Average realized product prices, excluding the impact of settled derivatives, was $3.46 per Mcfe.
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-08-06
As of June 30, 2026, we did not enter into any trading market risk sensitive instruments, and our market risk sensitive instruments consisted entirely of non-trading instruments entered into for risk management purposes related to our natural gas and
NGL production and power operations. Pricing is primarily driven by spot regional market prices applicable to our U.S. natural gas production. Pricing for natural gas, NGLs and power has historically been volatile and unpredictable, and we expect this volatility to continue in the future. The prices…
Additionally, to reduce our exposure to fluctuations in the market price of power and natural gas, we enter into financially settled HRCOs, which are contracts for the financial purchase and sale of power based on a floating price of natural gas at a predetermined location using a predetermined conv…
All derivative instruments, other than those that meet the normal purchase and normal sale scope exception, are recorded at fair market value in accordance with GAAP and are included in our condensed consolidated balance sheets as assets or liabilities. The fair values of our derivative instruments …
Mark-to-market adjustments of derivative instruments cause earnings volatility but have no cash flow impact relative to changes in market prices until the derivative contracts are settled or monetized prior to settlement. We expect continued volatility in the fair value of our derivative instruments…
Text removed vs the prior filing · source: 10-Q · 2026-05-07
As of March 31, 2026, we did not enter into any trading market risk sensitive instruments, and our market risk sensitive instruments consisted entirely of non-trading instruments entered into for risk management purposes related to our natural gas and NGL production and power operations. Pricing is …
Additionally, to reduce our exposure to fluctuations in the market price of power and natural gas, we enter into financially settled HRCOs, which are contracts for the financial purchase and sale of power based on a floating price of natural gas at a predetermined location using a predetermined conv…
different pricing locations or under different terms. For example, when we enter into an HRCO, we hedge our power production at an agreed price, but physical power must be delivered into the market it serves, which may result in pricing differences. Accordingly, we are exposed to basis risk between …
All derivative instruments, other than those that meet the normal purchase and normal sale scope exception, are recorded at fair market value in accordance with GAAP and are included in our condensed consolidated balance sheets as assets or liabilities. The fair values of our derivative instruments …
Mark-to-market adjustments of derivative instruments cause earnings volatility but have no cash flow impact relative to changes in market prices until the derivative contracts are settled or monetized prior to settlement. We expect continued volatility in the fair value of our derivative instruments…
Other information
Text added vs the prior filing · source: 10-Q · 2026-08-06
On May 12, 2026, Ms. Lindsay Larrick, Chief Administrative Officer and Chief Legal Officer, and an officer of the Company as defined in Rule 16a-1(f) of the Exchange Act, adopted a Rule 10b5-1 Trading Plan. Ms. Larrick’s Rule 10b5-1 Trading Plan, which has a plan end date of August 13, 2027, provide…
On May 15, 2026, Mr. Javier Hinojosa, Senior Vice President, Power, and an officer of the Company as defined in Rule 16a-1(f) of the Exchange Act, adopted a Rule 10b5-1 Trading Plan. Mr. Hinojosa’s Rule 10b5-1 Trading Plan, which has a plan end date of March 25, 2027, provides for the sale of up to …
Text removed vs the prior filing · source: 10-Q · 2026-05-07
During the three months ended March 31, 2026, no director or officer of the Company (as defined in Rule 16a-1(f) of the Exchange Act), adopted, modified, or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading agreement” (each as defined in Item 408(a) of Regulation S-K).
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice