Natural Gas was Bkv’s largest product and service line in fiscal 2025, bringing in $675.08M of $857.60M (79%).
| Product and Service | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Natural Gas | $1.31B | $509.85M | $346.66M | $675.08M |
| Natural Gas, Ngl, & Oil Sales | — | — | $518.78M | — |
| Merchant Energy Sales & Other | — | $413.92M | — | — |
| Bkv-Bpp Power, Llc | — | $274.62M | — | — |
| Ngls | $311.54M | $187.86M | $165.51M | $173.06M |
| Energy Retail Sales | — | $40.26M | $135.65M | — |
| Midstream Revenues | $12.68M | $16.17M | $10.55M | — |
| Marketing Revenues | $11.00M | $8.71M | — | — |
| Oil | $11.87M | $8.45M | $6.61M | $9.46M |
| Other Revenue | $117.00K | $3.96M | $6.63M | — |
| Related Party & Other | $2.80M | — | — | — |
| Solar Revenue | — | — | $128.00K | — |
| Physical Power Purchased | — | -$179.55M | -$151.99M | — |
| Total | $1.66B | $1.28B | $1.04B | $857.60M |
Bkv brought in $857.60M from its three product and service lines in fiscal 2025, the year ended December 31, 2025. Bkv regrouped these lines after fiscal 2024, so the total does not compare directly with that year's $1.04B. Natural Gas was the largest at $675.08M (78.7%), ahead of Ngls at $173.06M (20.2%) and Oil at $9.46M (1.1%).
Compared with fiscal 2024, Natural Gas grew 94.7% to $675.08M and Ngls grew 4.6% to $173.06M.
Bkv stopped reporting Natural Gas, Ngl, & Oil Sales ($518.78M in fiscal 2024), Merchant Energy Sales & Other ($413.92M in fiscal 2023), Bkv-Bpp Power, Llc ($274.62M in fiscal 2023) and six others as separate lines.
Texas was Bkv’s largest region in fiscal 2025, bringing in $789.93M of $857.60M (92%).
| Geography | FY 2022 | FY 2025 |
|---|---|---|
| Texas | $1.41B | $789.93M |
| Pennsylvania | $252.05M | $67.67M |
| Total | $1.66B | $857.60M |
Bkv brought in $857.60M from its two regions in fiscal 2025, the year ended December 31, 2025. That was down 48.3% from $1.66B in fiscal 2022, the previous year with figures. Texas was the largest at $789.93M (92.1%), ahead of Pennsylvania at $67.67M (7.9%).
Compared with fiscal 2022, the previous year with figures, Texas fell 43.9% to $789.93M and Pennsylvania fell 73.2% to $67.67M. From fiscal 2022 to 2025, combined revenue from these regions fell from $1.66B to $857.60M, a compound annual decline of 19.8%. Texas' share of the total rose from 84.8% to 92.1%.
Purchaser One was Bkv’s largest revenue line in fiscal 2024, bringing in $380.60M of $609.20M (62%).
| Customer | FY 2024 |
|---|---|
| Purchaser One | $380.60M |
| Purchaser Two | $146.00M |
| Purchaser Three | $82.60M |
| Total | $609.20M |
Bkv brought in $609.20M from its three revenue lines in fiscal 2024, the year ended December 31, 2024. Purchaser One was the largest at $380.60M (62.5%), ahead of Purchaser Two at $146.00M (24.0%) and Purchaser Three at $82.60M (13.6%).
Bkv (BKV) reports its revenue by product and service, by geography and by customer. In fiscal 2025, Natural Gas was its largest product and service line, bringing in $675.08M (78.7% of the total), followed by Ngls at $173.06M (20.2%).
Natural Gas was Bkv's largest product and service line in fiscal 2025, bringing in $675.08M, or 78.7% of the $857.60M total across its three product and service lines.
Texas was Bkv's largest region in fiscal 2025, bringing in $789.93M, or 92.1% of the $857.60M total across its two regions.
Purchaser One was Bkv's largest revenue line in fiscal 2024, bringing in $380.60M, or 62.5% of the $609.20M total across its three revenue lines.
Every figure comes from Bkv's annual financial filings, as reported. Each line keeps the name Bkv gives it, and years follow its fiscal calendar.
Bkv's revenue by product and service goes back to fiscal 2022, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.