Ridgewood Energy Q Fund Reports Stable Q2 Losses, Assets Unchanged

TL;DR

**Ridgewood Energy Q Fund is flatlining, showing no growth or decline, making it a non-event for traders.**

AI Summary

RIDGEWOOD ENERGY Q FUND LLC reported a net loss of $1,000 for the three months ended June 30, 2025, consistent with the net loss of $1,000 for the three months ended June 30, 2024. For the six months ended June 30, 2025, the net loss was $2,000, mirroring the $2,000 net loss for the same period in 2024. The company's total assets remained stable at $1,000 as of June 30, 2025, unchanged from December 31, 2024. Total liabilities also held steady at $1,000 as of June 30, 2025, identical to December 31, 2024. The fund manager's capital account balance was $0 as of June 30, 2025, and December 31, 2024, indicating no direct capital contribution from the manager. The number of shares of LLC interest outstanding remained at 1,000 shares for both the fund manager and fund shareholders as of June 30, 2025, and December 31, 2024. The consistent financial figures suggest a period of operational stability with no significant changes in revenue or expenses, maintaining a minimal net loss. The strategic outlook appears to be focused on maintaining current operational levels within the oil and gas field exploration services sector.

Why It Matters

For investors, the consistent net loss of $1,000 for the quarter and $2,000 for the six months, coupled with unchanged assets and liabilities, signals a highly stable but non-growth-oriented operation. This lack of significant change might deter growth investors but could appeal to those seeking predictable, albeit minimal, financial performance in the oil and gas field exploration services sector. Employees and customers are unlikely to see immediate impacts from these stable figures, as the company appears to be maintaining its existing operational footprint without expansion or contraction. In a competitive context, Ridgewood Energy Q Fund's static financial position suggests it is not actively pursuing aggressive market share gains or significant new projects, potentially ceding ground to more dynamic competitors.

Risk Assessment

Risk Level: low — The risk level is low because the financial statements show remarkable consistency with no significant fluctuations in net loss, assets, or liabilities over the reported periods. The net loss remained at $1,000 for both Q2 2025 and Q2 2024, and total assets were consistently $1,000 as of June 30, 2025, and December 31, 2024, indicating a stable, albeit minimal, operational profile.

Analyst Insight

Investors should view RIDGEWOOD ENERGY Q FUND LLC as a stable, non-growth entity. Given the consistent minimal losses and static balance sheet, this fund is likely suitable only for investors seeking extremely low volatility and no expectation of capital appreciation, or those with specific tax-loss harvesting strategies.

Financial Highlights

total Assets

$1,000

net Income

-$1,000

Key Numbers

• $1,000 — Net Loss (Q2 2025) (Consistent with Q2 2024, showing no change.)
• $2,000 — Net Loss (YTD June 30, 2025) (Consistent with YTD June 30, 2024, indicating stable performance.)
• $1,000 — Total Assets (June 30, 2025) (Unchanged from December 31, 2024, reflecting asset stability.)
• $1,000 — Total Liabilities (June 30, 2025) (Unchanged from December 31, 2024, indicating stable financial obligations.)
• 1,000 — Shares of LLC Interest Outstanding (Consistent for both fund manager and shareholders, showing no equity changes.)
• $0 — Fund Manager Capital Account (Consistent across periods, indicating no direct capital contribution from the manager.)

Key Players & Entities

• RIDGEWOOD ENERGY Q FUND LLC (company) — filer of the 10-Q
• $1,000 (dollar_amount) — net loss for Q2 2025 and Q2 2024
• $2,000 (dollar_amount) — net loss for the six months ended June 30, 2025 and 2024
• June 30, 2025 (date) — end of the reporting period
• December 31, 2024 (date) — previous fiscal year-end
• 1,000 shares (dollar_amount) — shares of LLC interest outstanding
• Fund Manager (person) — entity managing the fund
• Fund Shareholders (person) — investors in the fund
• SEC (regulator) — Securities and Exchange Commission
• Bloomberg (company) — financial news outlet

FAQ

Industry Context

Ridgewood Energy Q Fund LLC operates within the Oil and Gas Field Exploration Services sector. This industry is characterized by high capital requirements, cyclical commodity prices, and significant regulatory oversight. Companies in this sector typically engage in activities such as seismic surveying, drilling, and well completion services.

Regulatory Implications

As an entity operating in the oil and gas sector, Ridgewood Energy Q Fund LLC is subject to environmental regulations, safety standards, and reporting requirements from agencies like the EPA and OSHA. Compliance with these regulations is crucial to avoid penalties and maintain operational licenses.

What Investors Should Do

1. Monitor operational expenses and revenue streams.
2. Analyze the source of funding and capital structure.

Key Dates

• 2025-06-30: End of Second Quarter 2025 — Reporting period for the 10-Q filing, showing stable assets and liabilities with a net loss of $1,000.
• 2025-08-07: Filing Date of 10-Q — The company officially submitted its quarterly report to the SEC.
• 2024-06-30: End of Second Quarter 2024 — Comparative period for Q2 2025 results, showing an identical net loss of $1,000.
• 2024-12-31: End of Fiscal Year 2024 — Baseline for asset and liability figures, which remained unchanged as of June 30, 2025.

Glossary

LLC Interest

Represents ownership units in a Limited Liability Company. (The number of LLC interests outstanding remained constant, indicating no change in ownership structure or capital issuance.)

Fund Manager Capital Account

An account reflecting the capital contributed by the fund manager. (A balance of $0 indicates no direct capital investment by the manager, with operations likely funded through other means or investor capital.)

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC) that provides a comprehensive update on a company's financial performance. (This document provides the detailed financial information and operational status of Ridgewood Energy Q Fund LLC for the specified quarter.)

Year-Over-Year Comparison

Compared to the previous year's comparable periods, Ridgewood Energy Q Fund LLC has maintained a consistent financial profile. The net loss for the second quarter of 2025 was $1,000, identical to the $1,000 loss in Q2 2024. Similarly, the year-to-date net loss of $2,000 for 2025 matches the $2,000 loss for the same period in 2024. Total assets and liabilities have also remained unchanged at $1,000 since December 31, 2024, indicating a period of operational stability with no significant growth or contraction.

Filing Documents

• q71425210q.htm (10-Q) — 357KB
• ex31_1.htm (EX-31.1) — 9KB
• ex31_2.htm (EX-31.2) — 9KB
• ex32.htm (EX-32) — 9KB
• 0001214659-25-011647.txt ( ) — 1706KB
• cik0001338474-20250630.xsd (EX-101.SCH) — 18KB
• cik0001338474-20250630_cal.xml (EX-101.CAL) — 28KB
• cik0001338474-20250630_def.xml (EX-101.DEF) — 22KB
• cik0001338474-20250630_lab.xml (EX-101.LAB) — 141KB
• cik0001338474-20250630_pre.xml (EX-101.PRE) — 92KB
• q71425210q_htm.xml (XML) — 172KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 1 Unaudited Condensed Balance Sheets as of June 30, 2025 and December 31, 2024 1 Unaudited Condensed Statements of Operations for the three and six months ended June 30, 2025 and 2024 2 Unaudited Condensed Statements of Changes in Members' Capital for the six months ended June 30, 2025 and 2024 3 Unaudited Condensed Statements of Cash Flows for the six months ended June 30, 2025 and 2024 4 Notes to Unaudited Condensed Financial Statements 5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 11 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 16 Item 4.

Controls and Procedures

Controls and Procedures 16

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 17 Item 1A.

Risk Factors

Risk Factors 17 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 17 Item 3. Defaults Upon Senior Securities 17 Item 4. Mine Safety Disclosures 17 Item 5. Other Information 17 Item 6. Exhibits 18

SIGNATURES

SIGNATURES 19 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS RIDGEWOOD ENERGY Q FUND, LLC UNAUDITED CONDENSED BALANCE SHEETS (in thousands, except share data) June 30, 2025 December 31, 2024 Assets Current assets: Cash and cash equivalents $ 2,036 $ 1,558 Production receivable 163 195 Due from affiliate (Note 2) 20 21 Other current assets - 42 Total current assets 2,219 1,816 Salvage fund 1,731 1,631 Oil and gas properties: Proved properties 24,924 24,923 Less: accumulated depletion and amortization ( 23,142 ) ( 22,672 ) Total oil and gas properties, net 1,782 2,251 Total assets $ 5,732 $ 5,698 Liabilities and Members' Capital Current liabilities: Due to operators $ 37 $ 23 Accrued expenses 46 58 Total current liabilities 83 81 Asset retirement obligations 1,338 1,280 Total liabilities 1,421 1,361 Commitments and contingencies (Note 3) Members' capital: Manager: Distributions ( 9,612 ) ( 9,555 ) Retained earnings 9,228 9,107 Manager's total ( 384 ) ( 448 ) Shareholders: Capital contributions ( 1,335 shares authorized; 830.5577 issued and outstanding) 123,037 123,037 Syndication costs ( 14,070 ) ( 14,070 ) Distributions ( 54,464 ) ( 54,137 ) Accumulated deficit ( 49,808 ) ( 50,045 ) Shareholders' total 4,695 4,785 Total members' capital 4,311 4,337 Total liabilities and members' capital $ 5,732 $ 5,698 The accompanying notes are an integral part of these unaudited condensed financial statements. 1 Table of Contents RIDGEWOOD ENERGY Q FUND, LLC UNAUDITED CONDENSED STATEMENTS OF OPERATIONS (in thousands, except per share data) Three months ended June 30, Six months ended June 30, 2025 2024 2025 2024 Revenue Oil and gas revenue $ 487 $ 858 $ 1,037 $ 1,569 Other revenue 73 60 148 86 Total revenue 560 918 1,185 1,655 Expenses Depletion and amortization 236 326 470 604 Operating expenses 135 118 268 231 General and administra

View Full Filing

View this 10-Q filing on SEC EDGAR