BKV

8-K 1 a2q26pressrelease.htm 8-K

Document

Exhibit 99.1

BKV Corporation Reports Second Quarter 2026 Financial and Operational Results and Updated 2026 Guidance

DENVER, Colorado – August 6, 2026 – BKV Corporation (“BKV” or the “Company”) (NYSE: BKV), today reported financial and operational results for the second quarter of 2026 and updated guidance for the third quarter and full year of 2026.

Second Quarter 2026 Highlights

•Net income attributable to BKV of $75.8 million or $0.67 per diluted share

•Adjusted Net Income attributable to BKV of $50.7 million or $0.46 per diluted share

•Adjusted EBITDAX attributable to BKV of $142.0 million

•Net cash provided by operating activities of $109.7 million

•Net cash provided by operating activities before working capital of $117.6 million

•Accrued capital expenditures of $72.4 million

•Adjusted Free Cash Flow before Power Growth attributable to BKV of $40.0 million

•Average net production of 978.3 MMcfe/d

•Total generation from the Power JV’s Temple plants of 2,222 GWh

•CCUS quarterly sequestration of approximately 35,900 metric tons of CO2 equivalent

•Net Leverage Ratio of 1.78x

•Commenced commercial operations at the Cotton Cove and Eagle Ford CCUS projects, which combined are expected to sequester more than 120,000 metric tons of CO₂ waste annually

“Our performance this quarter reflects the consistency of our execution,” said Chris Kalnin, Chief Executive Officer of BKV. “We met or exceeded our operating targets while advancing each of our strategic priorities. During the quarter, we brought two additional carbon capture projects into operation, delivered strong results across our upstream business, and advanced commercial discussions toward a long-term power purchase agreement.”

“Our strategy has always been to build from a position of operational strength. That disciplined approach continues to create new opportunities across our power and carbon capture businesses while reinforcing the strong operational foundation of our upstream operations. Together, these complementary businesses position us to create long-term value for our shareholders.”

1

Financial Results

Three Months Ended June 30,Six Months Ended June 30,

($ Millions, except EPS)(1) 2026202520262025

Net income attributable to BKV$75.8 $107.8 $119.9 $25.8

Adjusted Net Income attributable to BKV, non-GAAP$50.7 $24.1 $73.1 $61.5

Adjusted EPS attributable to BKV, non-GAAP(2) $0.46 $0.28 $0.69 $0.73

Adjusted EBITDAX attributable to BKV, non-GAAP$142.0 $96.5 $254.0 $201.5

Net cash provided by operating activities$109.7 $89.3 $181.7 $105.7

Net cash provided by operating activities before working capital, non-GAAP$117.6 $84.5 $226.9 $134.5

Adjusted Free Cash Flow before Power Growth attributable to BKV, non-GAAP$40.0 $17.2 $60.1 $28.7

Capital expenditures (accrued)

Development (3) $38.8 $62.6 $120.8 $110.5

Power (4) $6.8 $0.3 $23.5 $0.4

CCUS and other$26.8 $16.1 $46.7 $26.2

Total capital expenditures (accrued)$72.4 $79.0 $191.0 $137.1

Deposits on fixed asset purchases (5) $125.5 $— $158.5 $—

(1) Adjusted Net Income attributable to BKV, Adjusted EPS attributable to BKV, Adjusted EBITDAX attributable to BKV, Net cash provided by operating activities before working capital, and Adjusted Free Cash Flow before Power Growth attributable to BKV are each non-GAAP financial measures. For a definition of each of these non-GAAP financial measures and reconciliations of such non-GAAP financial measures to their most directly comparable GAAP metrics, please see “Supplemental Non-GAAP Financial Measures” below.

(2) Reflects Adjusted EPS attributable to BKV on a diluted basis.

(3) Excludes asset retirement obligation expenditures of $0.3 million and $0.5 million for the three months ended June 30, 2026 and 2025, respectively, and $1.0 million and $0.6 million for the six months ended June 30, 2026 and 2025, respectively.

(4) Power maintenance was $0.5 million and $0.3 million for the three months ended June 30, 2026 and 2025, respectively, and $0.8 million and $0.4 million for the six months ended June 30, 2026 and 2025, respectively.

(5) These deposits are comprised of payments for turbines, modular generation equipment, and other long lead time items in Power included within our Strategic Power Growth capital expenditures and investments guidance.

“Our financial strategy is grounded in disciplined capital allocation, a strong balance sheet, and prudent liquidity management,” said David Tameron, Chief Financial Officer of BKV. “During the quarter, we maintained substantial liquidity while continuing to invest in our phased power strategy and expanding our carbon capture platform. Supported by the cash flow generated from our upstream business, we are able to fund these strategic investments while preserving financial flexibility and maintaining a disciplined balance sheet.”

“Our approach to capital deployment remains disciplined and

bkv-20260806

0001838406TRUE00018384062026-08-062026-08-06

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K/A

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): August 6, 2026

BKV CORPORATION

(Exact name of registrant as specified in its charter)

Delaware001-4228285-0886382

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification No.)

1200 17th Street, Suite 2100

Denver, Colorado 80202

(Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code: (720) 375-9680

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2):

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered

Common StockBKVNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company x

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. x

EXPLANATORY NOTE

This Amendment No. 1 to the Current Report on Form 8-K filed on August 6, 2026 is being filed solely to correct an EDGAR filing error. In the Original Report, the Form 8-K report was inadvertently included as an exhibit, and the exhibit was inadvertently submitted as the primary filing document. This Amendment includes the Current Report on Form 8-K and the exhibit in their proper locations. No other changes have been made to the Original Report.

Item 2.02. Results of Operations and Financial Condition.

Attached as Exhibit 99.1 is the registrant’s earnings release for the second quarter of 2026, issued August 6, 2026. This release is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise incorporated by reference into any filing pursuant to the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as otherwise expressly stated in such filing.

Item 7.01. Regulation FD Disclosure.

On August 6, 2026, BKV posted an investor presentation on its website. The presentation may be found on BKV’s website at https://www.bkv.com by selecting “Investors,” “News & Events” and then “Presentations.”

The information in the investor presentation and consolidating statements are being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Exchange Act, or otherwise incorporated by reference into any filing pursuant to the Securities Act, or the Exchange Act, except as otherwise expressly stated in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit

Number Description

99.1

Press Release, dated August 6, 2026

104Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

BKV Corporation

August 6, 2026By: /s/ David R. Tameron

David R. Tameron

Chief Financial Officer

bkv-20260507

0001838406FALSE00018384062026-05-072026-05-07

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): May 7, 2026

BKV CORPORATION

(Exact name of registrant as specified in its charter)

Delaware001-4228285-0886382

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification No.)

1200 17th Street, Suite 2100

Denver, Colorado 80202

(Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code: (720) 375-9680

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2):

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered

Common StockBKVNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company x

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. x

Item 2.02. Results of Operations and Financial Condition.

Attached as Exhibit 99.1 is the registrant’s earnings release for the first quarter of 2026, issued May 7, 2026. This release is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise incorporated by reference into any filing pursuant to the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as otherwise expressly stated in such filing.

Item 7.01. Regulation FD Disclosure.

On May 7, 2026, BKV posted an investor presentation on its website. The presentation may be found on BKV’s website at https://www.bkv.com by selecting “Investors,” “News & Events” and then “Presentations.”

The information in the investor presentation and consolidating statements are being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Exchange Act, or otherwise incorporated by reference into any filing pursuant to the Securities Act, or the Exchange Act, except as otherwise expressly stated in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit

Number Description

99.1

Press Release, dated May 7, 2026

104Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

BKV Corporation

May 7, 2026By: /s/ David R. Tameron

David R. Tameron

Chief Financial Officer