Ridgewood Energy Q Fund Reports Revenue Decline in Q2 2025

Ridgewood Energy Q Fund, LLC reported a decline in financial performance for the second quarter of 2025, with total revenue reaching $560,000, down from $918,000 in the same period of 2024. For the first half of 2025, revenue totaled $1.185 million, compared to $1.655 million in the prior year. The decrease in revenue was primarily attributed to lower oil and gas sales, which fell to $487,000 in the second quarter from $858,000 a year earlier, reflecting both reduced sales volumes and lower average oil prices. The Fund's net income for the second quarter was $148,000, a significant decrease from $440,000 in the previous year, while net income for the first half of 2025 was $358,000, down from $754,000.

The Fund's operational metrics showed a consistent number of producing wells, remaining at seven, but total production days increased slightly to 630 days in the second quarter of 2025 from 637 days in the same quarter of 2024. However, oil sales volumes decreased to 7,000 barrels from 10,000 barrels year-over-year, and gas sales also declined. The average oil price per barrel fell to $64 from $80, while the average gas price per thousand cubic feet increased to $3.46 from $3.04. The overall decrease in production volumes was attributed to natural declines in the output from the Beta Project's wells.

In terms of expenses, total costs for the second quarter of 2025 were $438,000, down from $507,000 in the same quarter of 2024. Depletion and amortization expenses decreased to $236,000 from $326,000, while operating expenses rose slightly to $135,000 from $118,000. General and administrative expenses remained relatively stable at $67,000 compared to $63,000 in the prior year. The Fund's cash and cash equivalents increased to $2.036 million as of June 30, 2025, up from $1.558 million at the end of 2024.

Looking ahead, Ridgewood Energy Q Fund anticipates that its cash flow from operations will be sufficient to cover its estimated capital commitments of $3.6 million, which includes $2.0 million for asset retirement obligations. The Fund expects to spend approximately $1.5 million of this amount over the next twelve months. The outlook remains cautious due to ongoing volatility in oil and gas prices, influenced by geopolitical factors and market conditions. The Fund's management continues to monitor these developments closely, emphasizing the importance of maintaining operational efficiency and financial stability in a fluctuating market environment.