Ridgewood Energy A-1 Fund Maintains Stable Structure in Q2

TL;DR

**Ridgewood Energy A-1 Fund is treading water, showing no significant moves in Q2; don't expect fireworks.**

AI Summary

RIDGEWOOD ENERGY A-1 FUND LLC's 10-Q filing for the period ending June 30, 2025, indicates a focus on oil and gas field exploration services. The filing provides financial data for the second quarter of 2025 and the six months ended June 30, 2025, compared to the same periods in 2024. Key financial metrics include the number of shares of LLC interest held by Fund Shareholders and the Fund Manager, which remained consistent at 105 shares for Fund Shareholders and 1 share for the Fund Manager across all reported periods from December 31, 2023, to June 30, 2025. The company's strategic outlook appears stable, with no significant changes in its capital structure or ownership reported. Risks are primarily associated with the inherent volatility of the oil and gas exploration sector, though specific new risks were not detailed in the provided excerpt. The filing confirms the company's continued operation in its established business model.

Why It Matters

For investors, the consistent share structure of RIDGEWOOD ENERGY A-1 FUND LLC, with 105 shares for Fund Shareholders and 1 for the Fund Manager, suggests stability but also a lack of new capital infusion or significant ownership shifts. This could indicate a mature fund with limited growth potential from new equity. Employees and customers are indirectly affected by the fund's performance, which is tied to the volatile oil and gas exploration market. In a competitive landscape, a stable but non-growing fund might struggle to attract new investment compared to more dynamic peers.

Risk Assessment

Risk Level: medium — The risk level is medium due to the company's involvement in the oil and gas field exploration services industry, which is inherently volatile and subject to commodity price fluctuations and regulatory changes. While the filing shows stable share counts (105 for Fund Shareholders, 1 for Fund Manager), it lacks detailed financial performance metrics like revenue or net income, making a comprehensive risk assessment challenging.

Analyst Insight

Investors should seek more detailed financial statements, including revenue and net income figures, to assess RIDGEWOOD ENERGY A-1 FUND LLC's performance and profitability. Without these specifics, it's difficult to determine the fund's true value or future prospects; consider this a 'hold' until more data emerges.

Key Numbers

• 105 — Shares of LLC Interest for Fund Shareholders (Consistent across all reported periods from 2023-12-31 to 2025-06-30)
• 1 — Shares of LLC Interest for Fund Manager (Consistent across all reported periods from 2023-12-31 to 2025-06-30)
• 2025-06-30 — Conformed Period of Report (End date of the reporting period for this 10-Q)
• 2025-08-07 — Filed As Of Date (Date the 10-Q was filed with the SEC)

Key Players & Entities

• RIDGEWOOD ENERGY A-1 FUND LLC (company) — Filer of 10-Q
• 01 Energy & Transportation (company) — Organization Name
• SEC (regulator) — Regulatory body for 10-Q filing
• Houston (location) — Business address city
• Delaware (location) — State of incorporation
• 105 (dollar_amount) — Shares of LLC Interest for Fund Shareholders
• 1 (dollar_amount) — Shares of LLC Interest for Fund Manager
• June 30, 2025 (date) — Conformed period of report
• August 7, 2025 (date) — Filed as of date

FAQ

Industry Context

Ridgewood Energy A-1 Fund LLC operates within the Oil and Gas Field Exploration Services sector. This industry is characterized by significant capital investment, technological advancements, and sensitivity to global energy prices. Companies in this space face competition from both large integrated energy firms and specialized service providers, with success often depending on access to capital, geological expertise, and efficient operational execution.

Regulatory Implications

As a participant in the oil and gas sector, the company is subject to various environmental, safety, and operational regulations at federal, state, and local levels. Compliance with these regulations is crucial to avoid penalties and maintain operational licenses. Changes in energy policy or environmental standards could impact exploration activities and costs.

What Investors Should Do

1. Monitor Oil and Gas Price Volatility
2. Review Future Filings for Operational Details
3. Assess Management's Strategic Adaptability

Key Dates

• 2025-06-30: Conformed Period of Report — This is the end date for the financial data presented in the 10-Q filing, covering the second quarter and the first half of 2025.
• 2025-08-07: Filed As Of Date — This is the date the 10-Q filing was officially submitted to the SEC, indicating the most recent information available at that time.
• 2024-06-30: Prior Year Period End — This date marks the end of the comparable period in the previous year, used for year-over-year financial comparisons.
• 2024-12-31: Prior Year End — This date marks the end of the previous fiscal year, providing a benchmark for longer-term financial trends.

Glossary

LLC Interest

Represents ownership units in a Limited Liability Company (LLC). (Indicates the ownership structure of RIDGEWOOD ENERGY A-1 FUND LLC, with 'Fund Shareholders' and 'Fund Manager' holding specific numbers of these interests.)

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 is the primary source of financial and operational information for RIDGEWOOD ENERGY A-1 FUND LLC for the specified period.)

SIC Code 1382

Standard Industrial Classification code for 'Oil and Gas Field Exploration Services'. (Classifies RIDGEWOOD ENERGY A-1 FUND LLC's primary business activity, indicating its sector within the energy industry.)

Year-Over-Year Comparison

This filing covers the period ending June 30, 2025. While specific comparative financial figures for revenue, net income, or margins are not detailed in the provided excerpt, the consistency in the number of LLC interests held by Fund Shareholders (105) and the Fund Manager (1) from December 31, 2023, through June 30, 2025, suggests a stable ownership structure. No new significant risks were detailed in the excerpt, implying a continuation of the business model and risk profile from the previous reporting period.

Filing Documents

• a171425010q.htm (10-Q) — 355KB
• ex31_1.htm (EX-31.1) — 9KB
• ex31_2.htm (EX-31.2) — 9KB
• ex32.htm (EX-32) — 9KB
• 0001214659-25-011645.txt ( ) — 1720KB
• cik0001457919-20250630.xsd (EX-101.SCH) — 18KB
• cik0001457919-20250630_cal.xml (EX-101.CAL) — 29KB
• cik0001457919-20250630_def.xml (EX-101.DEF) — 22KB
• cik0001457919-20250630_lab.xml (EX-101.LAB) — 143KB
• cik0001457919-20250630_pre.xml (EX-101.PRE) — 94KB
• a171425010q_htm.xml (XML) — 175KB

- 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 A-1 FUND, LLC UNAUDITED CONDENSED BALANCE SHEETS (in thousands, except share data) June 30, 2025 December 31, 2024 Assets Current assets: Cash and cash equivalents $ 588 $ 446 Production receivable 113 136 Due from affiliate (Note 2) 14 15 Other current assets - 32 Total current assets 715 629 Salvage fund 2,038 1,940 Oil and gas properties: Proved properties 18,310 18,309 Less: accumulated depletion and amortization ( 16,993 ) ( 16,648 ) Total oil and gas properties, net 1,317 1,661 Total assets $ 4,070 $ 4,230 Liabilities and Members' Capital Current liabilities: Due to operators $ 27 $ 17 Accrued expenses 47 60 Total current liabilities 74 77 Asset retirement obligations 1,786 1,744 Total liabilities 1,860 1,821 Commitments and contingencies (Note 3) Members' capital: Manager: Distributions ( 6,939 ) ( 6,896 ) Retained earnings 8,237 8,175 Manager's total 1,298 1,279 Shareholders: Capital contributions ( 250 shares authorized; 207.7026 issued and outstanding) 41,143 41,143 Syndication costs ( 4,804 ) ( 4,804 ) Distributions ( 46,080 ) ( 45,834 ) Retained earnings 10,653 10,625 Shareholders' total 912 1,130 Total members' capital 2,210 2,409 Total liabilities and members' capital $ 4,070 $ 4,230 The accompanying notes are an integral part of these unaudited condensed financial statements. 1 Table of Contents RIDGEWOOD ENERGY A-1 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 $ 338 $ 595 $ 719 $ 1,088 Other revenue 53 43 108 62 Total revenue 391 638 827 1,150 Expenses Depletion and amortization 173 240 345 444 Operating expenses 98 86 195 169 Management fees to affiliate (Note 2) 73 73 145 145

View Full Filing

View this 10-Q filing on SEC EDGAR