Earnings Highlights Ascent, BKV, & COP - 5/8/25

Ascent Resources
Northeast private producer, Ascent Resources, remains committed to maintaining a capital efficient development plan that is underpinned by a disciplined hedging program. The company remains optimistic about the long-term prospects for natural gas. Full year 2025 production guidance is unchanged from the prior reporting quarter.


BKV Corporation (BKV)
In response to favorable commodity pricing early in the year, BKV has maintained a steady development program. Q1 2025 production exceeded the mid-point of the previously guided range due to better than forecasted well performance on new development, effective base decline management, and accelerated pace of new development. The decrease in production volumes for the first quarter compared to the same period in 2024 is due to base production decline as a result of lower capital investment in 2023 and 2024. Full year 2025 production guidance is unchanged from the prior reporting quarter.


ConocoPhillips (COP)
Conoco lowered both full-year capital expenditures and adjusted operating cost guidance while maintaining 2025 full-year production guidance. The company achieved record Eagle Ford drilling performance from leveraging combined best practices. Q1 2025 production represents the full period of the Marathon Oil acquisition.

Full year 2025 capital expenditures guidance is lowered to $12.45 billion from an original $12.9 billion the prior reporting quarter. Full year 2025 production guidance is unchanged from the prior reporting quarter.