UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 10-Q


(Mark One)

[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934

                  For the quarterly period ended March 31, 2006


                        Commission File Number 000-51266

                          RIDGEWOOD ENERGY K FUND, LLC
             (Exact name of registrant as specified in its charter)


                 Delaware                               68-0580588
     (State or other jurisdiction of                 (I.R.S. Employer
      Incorporation or organization)                Identification No.)


                  1314 King Street, Wilmington, Delaware 19801
               (Address of principal executive offices) (Zip code)


                                 (201) 447-9000
              (Registrant's telephone number, including area code)


    Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes [X] No [_]

Indicate by check mark whether the registrant is a large accelerated filer, an
accelerated filer, or a non-accelerated filer. See definition of "accelerated
filer and large accelerated filer"in Rule 12b-2 of the Exchange Act. (Check
one):

  Large accelerated filer [_] Accelerated filer [_] Non-accelerated filer [X]

Indicate by check mark whether the registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

    As of May 15, 2006 there were 480.7046 shares of membership interest of the
registrant outstanding.

<PAGE>

                                Table of Contents

<TABLE>
<CAPTION>
                                                                                                                Page
<S>  <C>                                                                                                         <C>
Part I - FINANCIAL INFORMATION

Item 1. Financial Statements:
     Balance Sheets as of March 31, 2006 (unaudited) and December 31, 2005 .......................................3
     Statements of Operations for the three months ended March 31, 2006 and 2005 (unaudited) .....................4
     Statements of Changes in Members' Capital for the three months ended March 31, 2006 and 2005 (unaudited) ....5
     Statements of Cash Flows for the three months ended March 31, 2006 and 2005 (unaudited) .....................6
     Notes to Unaudited Financial Statements .....................................................................7
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations ...................12
Item 3. Quantitative and Qualitative Disclosures About Market Risk ..............................................14
Item 4. Controls and Procedures .................................................................................14

Part II - OTHER INFORMATION

Item 6. Exhibits ................................................................................................15
SIGNATURES ......................................................................................................16
</TABLE>




                                       2
<PAGE>
Part I - Financial Information
Item 1.  Financial Statements

                                                RIDGEWOOD ENERGY K FUND, LLC

                                                       BALANCE SHEETS
<TABLE>
<CAPTION>
                                                               March 31, 2006           December 31, 2005
                                                            ---------------------      ---------------------
                                                                (Unaudited)
<S>                                                               <C>                      <C>
                            ASSETS
Current assets:
     Cash and cash equivalents                                    $  8,927,797             $  7,846,290
     Production receivable                                             884,292                1,709,745
     Prepaid expenses                                                   12,670                   22,170
                                                                  ------------             ------------
            Total current assets                                     9,824,759                9,578,205
                                                                  ------------             ------------
Salvage Fund (Note 5)                                                1,039,183                1,033,879
                                                                  ------------             ------------
Oil and gas properties
     Proved properties                                              30,706,659               30,706,659
     Less:  accumulated depletion and amortization -
            proved properties                                       (6,038,054)              (4,782,959)
                                                                  ------------             ------------
     Oil and gas properties, net                                    24,668,605               25,923,700
                                                                  ------------             ------------
            Total assets                                          $ 35,532,547             $ 36,535,784
                                                                  ============             ============

                      LIABILITIES AND MEMBERS' CAPITAL
Current liabilities:
     Due to affiliate                                             $    696,783             $         --
     Accrued expenses payable                                          110,502                   43,438
     Due to operator, net                                               50,879                  689,307
                                                                  ------------             ------------
            Total current liabilities                                  858,164                  732,745

Asset retirement obligations                                            77,787                   75,280
                                                                  ------------             ------------
            Total liabilities                                          935,951                  808,025
                                                                  ------------             ------------

Commitment and contingencies (Note 9)

Members' capital:
            Manager:
                  Distributions                                       (290,189)                (214,461)
                  Accumulated deficit                                   (4,740)                (132,567)
                                                                  ------------             ------------
                       Manager's total                                (294,929)                (347,028)
                                                                  ------------             ------------
            Shareholders:
                  Capital contributions (534 shares
                  authorized; 480.7046 issued and
                  outstanding)                                      70,859,719               70,859,719
                  Syndication costs                                 (7,775,398)              (7,775,398)
                  Distributions                                     (1,983,802)              (1,215,272)
                  Accumulated deficit                              (26,208,994)             (25,794,262)
                                                                  ------------             ------------
                       Shareholders' total                          34,891,525               36,074,787
                                                                  ------------             ------------
                  Total members' capital                            34,596,596               35,727,759
                                                                  ------------             ------------
                  Total liabilities and members' capital          $ 35,532,547             $ 36,535,784
                                                                  ============             ============
</TABLE>

   The accompanying notes are an integral part of these financial statements.


                                       3
<PAGE>

                          RIDGEWOOD ENERGY K FUND, LLC

                            STATEMENTS OF OPERATIONS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                              Three months ended
                                                                  March 31,
                                                    ------------------------------------
                                                        2006                    2005
                                                    ------------            ------------
<S>                                                 <C>                     <C>
Revenues
      Oil and gas revenues                          $ 1,029,167             $   422,278
                                                    -----------             -----------

Expenses
      Dry hole costs                                     42,406                 465,549
      Depletion and amortization                      1,255,095                 387,341
      Management fees (Note 7)                               --                 442,875
      Lease operating expenses                           50,879                  65,283
      Accounting fees                                    35,000                   7,750
      Insurance                                           9,500                  13,320
      Accretion expense                                   2,507                      --
      Other general and administrative expenses             248                      33
                                                    -----------             -----------

           Total expenses                             1,395,635               1,382,151
                                                    -----------             -----------

           Loss from operations                        (366,468)               (959,873)

Other income
      Interest income                                    79,563                  62,629
                                                    -----------             -----------

           Net loss                                 $  (286,905)            $  (897,244)
                                                    ===========             ===========

           Manager - Net income (loss)              $   127,827             $   (23,950)

           Shareholders - Net loss                  $  (414,732)            $  (873,294)
           Net loss per share                       $      (863)            $    (1,817)

</TABLE>

   The accompanying notes are an integral part of these financial statements.

                                       4
<PAGE>

                          RIDGEWOOD ENERGY K FUND, LLC

                    STATEMENTS OF CHANGES IN MEMBERS' CAPITAL
                                   (Unaudited)
<TABLE>
<CAPTION>
                                        Three months ended                                    Three months ended
                                          March 31, 2006                                        March 31, 2005
                         --------------------------------------------------    -------------------------------------------------

                            Manager         Shareholders          Total           Manager        Shareholders          Total
                         -------------    ----------------    -------------    ------------    ---------------    --------------
<S>                     <C>              <C>                 <C>              <C>             <C>                <C>
Balances, January 1      $   (347,028)    $ 36,074,787        $ 35,727,759     $   (349,689)   $ 41,216,080       $ 40,866,391

Net income (loss)             127,827         (414,732)           (286,905)         (23,950)       (873,294)          (897,244)
Distributions                 (75,728)        (768,530)           (844,258)              --              --                 --
                         ------------     ------------        ------------     ------------    ------------       ------------

Balances, March 31       $   (294,929)    $ 34,891,525        $ 34,596,596     $   (373,639)   $ 40,342,786       $ 39,969,147
                         ============     ============        ============     ============    ============       ============

</TABLE>

   The accompanying notes are an integral part of these financial statements.

                                       5
<PAGE>

                          RIDGEWOOD ENERGY K FUND, LLC

                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                                 Three months ended March 31,
                                                                             ----------------------------------
                                                                                 2006                  2005
                                                                             ------------          ------------
<S>                                                                          <C>                   <C>
Cash flows used in operating activities
     Net loss                                                                $   (286,905)         $   (897,244)
     Adjustments to reconcile net loss to net cash
        provided by (used in) operating activities
           Depletion and amortization                                           1,255,095               387,341
           Dry hole costs                                                          42,406               465,549
           Accretion of asset retirement obligations                                2,507                    --
           Interest collected on salvage fund                                      (5,304)                   --
           Changes in assets and liabilities
                  Decrease (increase) in production receivable                    825,453              (109,350)
                  Decrease in prepaid expenses                                      9,500                13,321
                  Increase (decrease) in accrued expenses payable                  67,064            (2,725,239)
                  Increase in due to operator, net                                 58,355                    --
                                                                             ------------          ------------
                  Net cash provided by (used in) operating activities           1,968,171            (2,865,622)
                                                                             ------------          ------------
Cash flows from investing activities
     Capital expenditures for oil and gas properties                              (42,406)           (3,188,830)
                                                                             ------------          ------------
                  Net cash used in investing activities                           (42,406)           (3,188,830)
                                                                             ------------          ------------
Cash flows from financing activities
     Distributions                                                               (844,258)                   --
                                                                             ------------          ------------
                  Net cash used in financing activities                          (844,258)                   --
                                                                             ------------          ------------
                  Net  increase (decrease) in cash and cash equivalents         1,081,507            (6,054,452)

                  Cash and cash equivalents, beginning of period                7,846,290            18,861,719
                                                                             ------------          ------------
                  Cash and cash equivalents, end of period                   $  8,927,797          $ 12,807,267
                                                                             ============          ============
Supplemental non-cash operating activity:
     Reclassification of due to operator, net, to due to manager             $    696,783
                                                                             ============
</TABLE>

   The accompanying notes are an integral part of these financial statements.

                                       6
<PAGE>

                          RIDGEWOOD ENERGY K FUND, LLC

                     NOTES TO UNAUDITED FINANCIAL STATEMENTS

1. Organization and Purpose

The Ridgewood Energy K Fund, LLC ("Fund"), a Delaware limited liability company,
was formed on March 1, 2004 and operates pursuant to a limited liability company
agreement ("Agreement") dated as of April 1, 2004 by and among Ridgewood Energy
Corporation ("Manager") and the shareholders of the Fund.

The Fund was organized to acquire, drill, construct and develop natural gas and
oil properties located in the United States offshore waters of Texas and
Louisiana in the Gulf of Mexico.

The Manager performs (or arranges for the performance of) the management and
administrative services required for Fund operations. Such services include,
without limitation, the administration of shareholder accounts, shareholder
relations and the preparation, review and dissemination of tax and other
financial information. In addition, the Manager provides office space,
equipment, facilities and other services necessary for Fund operations. The
Manager also engages and manages the contractual relations with outside
custodians, depositories, accountants, attorneys, broker dealers, corporate
fiduciaries, insurers, banks and others as required. (Notes 2, 6 and 7)

2. Summary of Significant Accounting Policies

     Basis of presentation

These interim financial statements have been prepared by the Fund's management,
without audit, in accordance with accounting principles generally accepted in
the United States of America and in the opinion of management, contain all
adjustments (consisting of only normal recurring adjustments) necessary to
present fairly the Fund's financial position, results of operations and cash
flows for the periods presented. Certain information and note disclosures
normally included in annual financial statements prepared in accordance with
accounting principles generally accepted in the United States of America have
been omitted in these interim financial statements. The results of operations,
financial position, and cash flows for the periods presented herein are not
necessarily indicative of future financial results. These interim financial
statements should be read in conjunction with the annual financial statements
and the notes thereto for the year ended December 31, 2005 included in the
Fund's Annual Report on Form 10-K filed with the Securities and Exchange
Commission.

    Use of Estimates

The preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America requires management to make
estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities as of the date
of the financial statements and the reported amount of revenues and expenses
during the reporting period. On an ongoing basis, the Manager reviews its
estimates, including those related to amounts advanced to and billed by
operators, determination of proved reserves, impairment allowances, and
environmental liabilities. Actual results may differ from those estimates.

     Oil and gas properties

Investments in oil and gas properties are operated by unaffiliated entities
("Operators") who are responsible for drilling, administering and producing
activities pursuant to the terms of the applicable Operating Agreements with
working interest owners. The Fund's portion of exploration, drilling, operating
and capital expenditures relating to the wells are advanced and billed by
Operators through authorization for expenditures.

The successful efforts method of accounting for oil and gas producing activities
is followed. Acquisition costs are capitalized when incurred. Other oil and gas
exploration costs, excluding the costs of drilling exploratory wells, are
charged to expense as incurred. The costs of drilling exploratory wells are
capitalized pending the determination of whether the wells have discovered
proved commercial reserves. If proved commercial reserves have not been found,
exploratory drilling costs are expensed. Costs to develop proved reserves,
including the cost of all development wells and related facilities and equipment
used in the production of natural gas and crude oil, are capitalized.
Expenditures for ongoing repairs and maintenance of producing properties are
expensed as incurred.

                                       7
<PAGE>

Upon the sale or retirement of a proved property (i.e. a producing well), the
cost and related accumulated depletion and amortization are eliminated from the
property accounts, and the resultant gain or loss is recognized. On the sale or
retirement of an unproved property, gain or loss on the sale is recognized,
taking into consideration the amount of any recorded impairment if the property
had been assessed as impaired. It is not the Manager's intention to sell any of
the Fund's property interests.

Capitalized costs of producing oil and gas properties after recognizing
estimated salvage values are depleted by the unit-of-production method.

     Revenue Recognition

Oil and gas sales are recognized when delivery is made by the Operator to the
purchaser and title is transferred, i.e., production has been delivered to a
pipeline or transport vehicle.

The volume of gas sold by the operator on the Fund's behalf may differ from the
volume of gas the Fund is entitled to. The Fund will account for such gas
production imbalances by the entitlements method. Under the entitlements method,
the Fund will recognize a receivable from other working interest owners for
volumes oversold by other working interest owners, and a payable to other
working interest owners for volumes oversold by the Fund. For the periods ended
March 31, 2006 and December 31, 2005, there were no gas-balancing arrangements
between the Fund and other working interest owners.

   Interest Income

Interest income is recognized when earned.

     Syndication Costs

Costs associated with offering the Fund's shares including professional fees,
selling expenses and administrative costs payable to the Manager, an affiliate
of the Manager and outside brokers are reflected as a reduction of shareholders'
capital.

     Asset Retirement Obligations

For proved oil and gas properties, there are obligations to perform removal and
remediation activities when the properties are retired. The Fund adopted
Statement of Financial Accounting Standards (SFAS) No. 143, "Accounting for
Asset Retirement Obligations" in 2004. SFAS No. 143 requires the Fund to record
a separate liability for the discounted present value of the Fund's asset
retirement obligations, with an offsetting increase to the related oil and gas
properties on the balance sheet. In 2005, the Fund recorded asset retirement
obligations of $75,280 related to its producing properties of which $3,160
represents accretion expense during 2005. Accretion expense for the three months
ended March 31, 2006 totaled $2,507. There were no asset retirement obligations
settled for the periods ended March 31, 2006 and December 31, 2005.

     Impairment of Long-Lived Assets

In accordance with the provisions of SFAS No. 144, "Accounting for the
Impairment of Long-Lived Assets", long-lived assets, such as oil and gas
properties, are evaluated when events or changes in circumstances indicate that
the carrying value of such assets may not be recoverable. The determination of
whether impairment has occurred is made by comparing the carrying values of
long-lived assets to the estimated future undiscounted cash flows attributable
to the assets. The impairment loss recognized is the excess of the carrying
value over the future discounted cash flows attributable to the asset or the
estimated fair value of the asset. No impairment was recorded during 2006 or
2005.

     Depletion and Amortization

Depletion and amortization of the cost of proved oil and gas properties are
calculated using the units of production method. Proved developed reserves are
used as the base for depleting the cost of successful exploratory drilling and
development costs. The sum of proved developed and proved undeveloped reserves
are used as the base for depleting (or amortizing) leasehold acquisition costs,
the costs to acquire proved properties and platform and pipeline costs. For the
three months ended March 31, 2006 and 2005, depletion and amortization totaled
$1,255,095 and $387,341, respectively.


     Income Taxes

No provision is made for income taxes in the financial statements as the income
or losses are passed through and included in the tax returns of the individual
members.

                                       8
<PAGE>

     Cash and cash equivalents

All highly liquid investments with maturities when purchased of three months or
less are considered as cash and cash equivalents. At times, bank deposits may be
in excess of federally insured limits. As of March 31, 2006, bank balances
exceeded federally insured limits by approximately $8.7 million. The Fund
maintains bank deposits with high quality financial institutions to mitigate
such risk.

     Income and Expense Allocation

Profits and losses are to be allocated 85 % to shareholders in proportion to
their relative capital contributions and 15% to the Manager, except for items of
expense, loss, deduction and credit attributable to the expenditure of
shareholders' capital contributions which are allocated 99% to shareholders and
1% to the Manager.

3.  Recent Accounting Pronouncements

In March 2005, the Financial Accounting Standards Board (FASB) issued FASB
Interpretation No. 47, "Accounting for Conditional Asset Retirement Obligations"
(FIN 47). This interpretation clarifies that the term "conditional asset
retirement obligation" as used in Statement No. 143 refers to a legal obligation
to perform an asset retirement activity in which the timing and/or method of
settlement are conditional on a future event that may or may not be within the
control of the entity incurring the obligation. The obligation to perform the
asset retirement activity is unconditional even though uncertainty exists about
the timing and/or method of settlement. Thus, the timing and/or method of
settlement may be conditional on a future event. Accordingly, an entity is
required to recognize a liability for the fair value of a conditional asset
retirement obligation if the fair value of the liability can be reasonably
estimated. Uncertainty about the timing and/or method of settlement of a
conditional asset retirement obligation should be factored into the measurement
of the liability, rather than the timing of recognition of the liability, when
sufficient information exists. FIN 47 is effective for calendar year-end
entities no later than December 31, 2005. The application of FIN 47 did not have
an impact on the Fund's financial position or results of operations.

In April 2005, the FASB issued FASB Staff Position (FSP) 19-1, "Accounting for
Suspended Well Costs." The Fund adopted FSP 19-1 during the second quarter of
2005 (Note 4). Leasehold acquisition and exploratory drilling costs are
capitalized pending determination of whether the well has found proved reserves.
Unproved properties are assessed on a quarterly basis for impairment of value by
evaluating and monitoring if sufficient progress is made on assessing the
reserves. Capitalized costs are expensed as dry-hole costs in the event that
reserves are determined to be not proved. Dry-hole costs were $42,406 and
$465,549 for the three months ended March 31, 2006 and 2005, respectively.

In the first quarter of 2006, the Fund adopted SFAS No. 154, "Accounting Changes
and Error Corrections-a replacement of APB Opinion No. 20 and FASB Statement No.
3". SFAS No. 154 changed the requirements for the accounting for and reporting
of a voluntary change in accounting principle. The adoption of this Statement
did not affect the Fund's financial statements in the period of adoption. Its
effects on future periods will depend on the nature and significance of any
future accounting changes subject to this statement.

In April 2006, the FASB issued FASB Staff Position (FSP) FIN 46(R)-6,
"Determining the Variability to Be Considered in Applying FASB Interpretation
No.46(R)", that will become effective beginning in the third quarter of 2006.
FSP FIN No. 46(R)-6 clarifies that the variability to be considered in applying
Interpretation 46(R) shall be based on an analysis of the design of the variable
interest entity. The adoption of this FSP is not expected to have a material
effect on the Fund's financial statements.

                                       9
<PAGE>

4.   Unproved Properties - Capitalized Exploratory Well Costs

The following table reflects the net changes in capitalized exploratory well
costs for the three months ended March 31, 2006 and the year ended December 31,
2005:

<TABLE>
<CAPTION>
                                                       Three months
                                                          ended                Year ended
                                                       March 31, 2006       December 31, 2005
                                                      ----------------     -------------------
<S>                                                   <C>                        <C>
Balance - beginning of period                         $         --               $  9,201,357

Additions to capitalized exploratory well costs
  pending the determination of proved reserves                  --                  2,548,771
Reclassifications to proved properties based on
  the determination of proved reserves                          --                (11,750,128)
                                                      ------------               ------------

Balance - end of period                               $         --               $         --
                                                      ============               ============
</TABLE>

As of January 1, 2005, the Fund had capitalized exploratory well costs in West
Cameron 556 of $9,201,357; additional exploratory well costs of $2,548,771 were
capitalized in 2005. Exploratory drilling in West Cameron 556 was completed in
September 2005 and the well began production in October 2005. As of March 31,
2006 and December 31, 2005, the Fund had no capitalized exploratory well costs
greater than a year.

5.   Short-term Investments in Marketable Securities / Salvage Fund

As of March 31, 2006 a significant portion of the salvage fund is invested in
short-term marketable securities; the balance of $3,486 was invested in cash and
cash equivalents:

                                             Net Unrealized
                                   Cost           Gain        Fair Value
                                ----------   --------------   -----------
Held-to-Maturity
  U.S. Treasury Bills           $1,035,697      $    5,170    $1,040,867

Held-to-maturity securities are carried in the financial statements at cost.
U.S. Treasury Bills mature in August 2006.

6.   Distributions

Distributions to shareholders are allocated in proportion to the number of
shares held.

The Manager will determine whether Available Cash from Operations, as defined in
the Fund's Operating Agreement, is to be distributed. Such distribution will be
allocated 85% to the shareholders and 15% to the Manager, as defined in the
Fund's Operating Agreement. Effective March 1, 2006 the Manager elected to
reduce its distribution of Available Cash from Operations to 1%, and effective
April 1, 2006 the Manager elected to permanently waive its distribution of
Available Cash from Operations for the remaining life of the Fund.

Available Cash from Dispositions, as defined in the Fund's Operating Agreement,
will be paid 99% to shareholders and 1% to the Manager until the shareholders
have received total distributions equal to their capital contributions. After
shareholders have received distributions equal to their capital contributions,
85% of Available Cash from Dispositions will be distributed to shareholders and
15% to the Manager.

The Manager received distributions of $75,728 for the three months ended March
31, 2006. No distributions were paid for the three months ended March 31, 2005.

                                       10
<PAGE>

7. Transactions with Manager

A management agreement provides that the Manager render management,
administrative and advisory services. For such services, the Manager receives an
annual management fee, payable monthly, of 2.5% of total capital contributions.
For the three months ended March 31, 2005 a management fee of $442,875 was
incurred and paid. Beginning on October 1, 2005 and continuing for the remaining
life of the Fund, the Manager elected to waive its management fee.

From time to time, short-term payables and receivables, which do not bear
interest, arise from transactions with affiliates in the ordinary course of
business. As of March 31, 2006, $696,783 was due to Manager relating to lease
operating expenses. No amount was outstanding as of December 31, 2005.

In 2004, the Manager was paid an offering fee of $2,520,207 which approximated
3.5% of capital contributions to cover expenses incurred in the offer and sale
of shares of the Fund. Such offering fee was included in syndication costs (Note
2).

In 2004, Ridgewood Securities Corp., a registered broker dealer affiliated with
the Manager was paid selling commissions and placement fees of $179,200 and
$720,057, respectively, for shares of the Fund sold which were reflected in
syndication costs (Note 2).

The Fund co-invests with affiliated funds managed by the Manager to acquire and
develop oil and gas projects.

8.  Fair Value of Financial Instruments

As of March 31, 2006 and December 31, 2005, the carrying values of cash and cash
equivalents, production receivable, salvage fund, due to operator and accrued
expenses payable approximate fair values. Cash and cash equivalents principally
consist of money market funds.

9.  Commitment and Contingencies

    Environmental Considerations

The exploration for and development of oil and gas involves the extraction,
production and transportation of materials which, under certain conditions, can
be hazardous or cause environmental pollution problems. The Manager and the
Operators are continually taking action they believe appropriate to satisfy
applicable federal, state and local environmental regulations and do not
currently anticipate that noncompliance with federal, state and local
environmental regulations will have a material adverse effect upon capital
expenditures, earnings or the competitive position of the Fund in the oil and
gas industry. However, due to the significant public and governmental interest
in environmental matters related to those activities, the Manager cannot predict
the effects of possible future legislation, rule changes, or governmental or
private claims. As of March 31, 2006 and December 31, 2005, there were no known
environmental issues that required the Fund to record a liability.

     Salvage Fund

Pursuant to the Fund's Operating Agreement, the Fund deposits in a separate
interest-bearing account, or a salvage fund, money to provide for dismantling
production platforms and facilities, plugging and abandoning the wells and
removing the platforms, facilities and wells after their useful lives, in
accordance with applicable federal and state laws and regulations. Interest
earned on the account will become part of the salvage fund; there are no legal
restrictions on the withdrawal from the salvage fund.

     Insurance Coverage

The Fund is subject to all risks inherent in the exploration for and development
of oil and gas. Insurance coverage as is customary for entities engaged in
similar operations is maintained, but losses may occur from uninsurable risks or
amounts in excess of existing insurance coverage. The occurrence of an event
which is not insured or not fully insured could have an adverse impact upon
earnings and financial position.

                                       11
<PAGE>

Item 2. Management's Discussion and Analysis of Financial Condition and
Results of Operations

            Cautionary Statement Regarding Forward-Looking Statements

This Quarterly Report on Form 10-Q, including all documents incorporated by
reference, includes "forward-looking" statements within the meaning of Section
27A of the Securities Act of 1933, as amended (the "Securities Act") and Section
21E of the Securities Exchange Act of 1934, as amended, and the Private
Securities Litigation Reform Act of 1995, and the "safe harbor" provisions
thereof. These forward-looking statements are usually accompanied by the words
"anticipates," "believes," "plan," "seek," "expects," "intends," "estimates,"
"projects," "will likely result," "will continue," "future" and similar terms
and expressions. The forward-looking statements in this Quarterly Report on Form
10-Q reflect our current views with respect to future events and financial
performance. These forward-looking statements are subject to certain risks and
uncertainties, including, among other things, the high-risk nature of natural
gas exploratory operations, the fact that our drilling activities are managed by
third parties, the volatility of oil and gas prices and extraction, and those
other risks and uncertainties discussed in the Fund's Annual Report on Form 10-K
filed with the Securities and Exchange Commission that could cause actual
results to differ materially from historical results or those anticipated. In
light of these risks and uncertainties, there can be no assurance that the
forward-looking information contained in this Quarterly Report on Form 10-Q will
in fact occur or prove to be accurate. Readers should not place undue reliance
on the forward-looking statements contained herein, which speak only as of
today's date. We undertake no obligation to publicly revise these
forward-looking statements to reflect events or circumstances that may arise
after today. All subsequent written or oral forward-looking statements
attributable to us or persons acting on our behalf are expressly qualified in
their entirety by this section.

Critical Accounting Policies and Estimates

The following discussion and analysis of our financial condition and operating
results is based on our financial statements. The preparation of this Quarterly
Report on Form 10-Q requires us to make estimates and assumptions that affect
the reported amount of assets and liabilities, disclosure of contingent assets
and liabilities at the date of our financial statements, and the reported amount
of revenue and expenses during the reporting period. Actual results may differ
from those estimates and assumptions. See "Notes to Unaudited Financial
Statements" in Part I of this Quarterly Report on Form 10-Q for a presentation
of the Fund's critical accounting principles. No changes have been made to our
critical accounting policies and estimates since the filing of the Form 10-K.

Overview

The Fund commenced active operations on April 22, 2004 when it began its private
offering of shares. During 2004, the Fund raised $70,859,719 by selling 480.7046
shares. The Fund's primary business is obtaining economic interest in the
exploration and development of oil and gas projects. The business activities are
managed by Ridgewood Energy Corporation, the Manager. The Fund does not directly
explore for, or operate, any projects. The Manager, on behalf of the Fund,
enters into operating agreements with third party operators for the exploration
and possible development of projects. These third-party operators manage all
day-to-day activities of projects, determine expenditures and report their
activities to the Manager.

As of March 31, 2006, we owned working interests in seven offshore blocks. Since
inception (March 1, 2004), we have participated in the drilling of seven wells,
of which three were successful. In addition, three wells have yet to be drilled.

Results of Operations

Oil and gas revenues for the three months ended March 31, 2006 totaled
$1,029,167, a $606,889 increase or 144% higher than the comparable period of
2005 due to higher commodity prices as well as increased production. 30% of
revenue represents oil sales and 70% of revenue represents gas sales. Average
gas prices increased from $6.26 during Q1 2005 to $7.47 during Q1 2006. Average
oil prices increased from $49.48 during Q1 2005 to $63.37 during Q1 2006. For
the quarter ended March 31, 2006 the volume of production sold increased over
the comparable quarter of 2005 from 49 MMcfe's to 125 MMcfe's, or 155%. The
improvement is a result of increased production from the EC299 property due to
the successful rework of the C-10 well in 2005 as well as the addition of
production from the West Cameron 556 property which began producing in August
2005. During the first quarter of 2005, sales volumes included production from
the East Cameron 299 C-11 well, however, that well has been shut-in since
Hurricane Katrina and is awaiting a work-over during the third or fourth quarter
of 2006.

Operating expenses for the three months ended March 31, 2006 related to the
producing properties include depletion and amortization and lease operating
expenses totaling $1,305,974. Expenses related to unsuccessful properties
including dry hole costs and well control insurance totaled approximately
$42,406 for the quarter. Other general and administrative expenses including
accounting, legal fees and insurance comprised the remainder of the Fund's
expenses.

                                       12
<PAGE>


Operating expenses for the three months ended March 31, 2005 related to the
producing properties include depletion and amortization and lease operating
expenses totaling $452,624. Expenses related to unsuccessful properties
including dry hole costs and well control insurance totaled $465,549 for the
quarter. The remainder of the Fund's expenses included Management fees of
$442,875 and other general and administrative expenses including accounting and
insurance fees of $21,103. Beginning on October 1, 2005 and for the remaining
life of the Fund, the Manager has elected to waive its management fee.

Other Income

Other income, comprised solely of interest income, was $79,563 and $62,629 for
the three months ended March 31, 2006 and 205, respectively. Interest is earned
on non-invested capital which is held in highly liquid investments with
maturities when purchased of three months or less. Higher interest rates for the
three months ended March 31, 2006 as compared to the three months ended March
31, 2005 accounted for the increased interest income.

Liquidity and Capital Resources

Cash and cash equivalents increased by $1.1 million through March from $7.8
million at December 31, 2005 to $8.9 million at March 31, 2006. Net cash
provided by operating activities of $2.0 million represents oil and gas revenue
receipts less expenditures for lease operating and general and administrative
expenses.

Cash and cash equivalents decreased by $6.1 million during the first quarter of
2005 from $18.9 million at December 31, 2004 to $12.8 million at March 31, 2005.
During the period ended March 31, 2005, the Fund made expenditures for oil and
gas properties totaling $3.2 million and paid previously accrued expenses
relating primarily to oil and gas properties of $2.7 million, and cash paid for
dry hole costs was $500k.

Investing activities in 2006 included the payment of dry-hole costs totaling
$42,406.

Cash flows from financing activities in 2006 included total distributions made
to shareholders (not including the Manager) of $768,530. Manager distributions
totaled $75,728 for the quarter. The Manager may distribute available cash from
operations which includes cash received by the Fund from producing wells (not
including cash flow from dispositions and shareholders' capital contributions),
less operating expenses and other cash expenditures and less reserves for
operating expenses, plugging and abandonment costs and certain other actual and
contingent liabilities. Effective March 1, 2006, the Manager elected to reduce
its distribution of Available Cash from Operations to 1% and effective April 1,
2006, the Manager elected to permanently waive its distribution of Available
Cash from Operations for the remaining life of the Fund.

Future Trends

Revenue to the Fund is sensitive to changes in price received for natural gas
production. Prevailing market prices fluctuate in response to many factors that
are outside of our control such as the supply and demand for natural gas.
Availability of alternative fuels also impacts the supply while other economic
factors may impact the demand.

High natural gas prices have resulted in a strong demand for and a tight supply
of drilling rigs necessary to drill new wells. The increased cost in daily rig
rates could have a negative impact on the return to investors in the Fund. The
shortage of drilling rigs could delay the employment of capital to such projects
and thus delay revenue from operations.

Wells drilled may not have commercially productive natural gas reservoirs. In
such an event, the Fund's revenue, future results of operations and financial
condition would be adversely impacted.

Estimated Capital Expenditures

The Fund has entered into multiple Offshore Operating Agreements for the
drilling and development of its investment properties. The estimated capital
expenditures associated with these agreements can vary depending on the stage of
development on a property-by-property basis. As of March 31, 2006, such
estimated capital expenditures to be spent total $6.93 million, all of which is
expected to be paid within the following 12 months.

Beginning in October 2005, the Manager has waived its annual management fee of
2.5% of total capital contributions for administrative and advisory services.
Effective March 1, 2006, the Manager elected to reduce its distribution of
Available Cash from Operations to 1% and effective April 1, 2006 the Manager
elected to permanently waive its distribution of Available Cash from Operations
for the remaining life of the Fund. In the first quarter of 2006, the Manager
was paid distributions in the amount of $75,728.

                                       13
<PAGE>

The table below sets out exploration and development capital expenditures from
inception as well as estimated budgeted amounts for future periods.

<TABLE>
<CAPTION>
  Estimated Capital Expenditures
  as of March 31, 2006               Total Project           Spent thru                     To be Spent
                                        Costs               March 31, 2006        Next 12 months      Years 2-3
<S>                                 <C>                          <C>               <C>                   <C>
  Projects
     West Cameron 76 #11 (i)         $3,930,000                   0                 $3,930,000            $0
     Mobile 946 (i)(ii)               3,000,000                   0                  3,000,000             0
</TABLE>

     i)   Assumes the wells are commercially successful. If one or more of the
          wells is dry, the development capital will be reallocated to one or
          more new unspecified projects.
     ii)  The Fund gave an oral commitment to participate in the drilling of
          Mobile 946 in May 2006.

Item 3.  Quantitative and Qualitative Disclosures about Market Risk

The principal market risks to which the Fund is exposed that may adversely
impact the Fund's results of operations and financial position are changes in
oil and gas prices. The Fund has no market risk sensitive instruments held for
trading purposes.


Item 4. Controls and Procedures

(a)     Evaluation of Disclosure Controls and Procedures

Our Chief Executive Officer and Chief Financial Officer have evaluated the
effectiveness of our disclosure controls and procedures as defined in Rules
13a-15(e) of the Securities and Exchange Act of 1934, as amended ("Exchange
Act") as of March 31, 2006 ("Evaluation Date"). Based on this evaluation, our
Chief Executive Officer and Chief Financial Officer have concluded that our
disclosure controls and procedures were effective as of the Evaluation Date to
ensure that information that is required to be disclosed by us in the reports we
file or submit under the Exchange Act is recorded, processed, summarized and
reported, within the time periods specified in the SEC's rules and forms.


(b)     Changes in Internal Control over Financial Reporting

There have been no changes in the Fund's internal control over financial
reporting during the Fund's most recent fiscal quarter that have materially
affected, or are reasonably likely to materially affect, our internal control
over financial reporting.


                                       14
<PAGE>

Part II.       Other Information

Item 6.        Exhibits

     31.1      Certification of Robert E. Swanson, Chief Executive Officer,
               pursuant to Securities Exchange Act Rule 13a-14(a)

     31.2      Certification of Kathleen P. McSherry, Chief Financial Officer,
               pursuant to Securities Exchange Act Rule 13a-14(a)

     32        Certifications pursuant to 18 U.S.C. Section 1350, as adopted
               pursuant to Section 906 of The Sarbanes-Oxley Act of 2002, signed
               by Robert E. Swanson, Chief Executive Officer of the Company and
               Kathleen P. McSherry, Chief Financial Officer of the Company



                                       15
<PAGE>

                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.


                           RIDGEWOOD ENERGY K FUND, LLC

                           By: /s/ Robert E. Swanson
                               ---------------------
Dated:  May 15, 2006           Robert E. Swanson
                               President and Chief Executive Officer
                               (principal executive officer)


                           By: /s/ Kathleen P. McSherry
                               ------------------------
Dated:  May 15, 2006           Kathleen P. McSherry
                               Senior Vice President and Chief Financial Officer
                               (principal financial and accounting officer)


                                       16
<PAGE>

                                  EXHIBIT INDEX



31.1      Certification of Robert E. Swanson, Chief Executive Officer, pursuant
          to Securities Exchange Act Rule 13a-14(a)

31.2      Certification of Kathleen P. McSherry, Chief Financial Officer,
          pursuant to Securities Exchange Act Rule 13a-14(a)

32        Certifications pursuant to 18 U.S.C. Section 1350, as adopted pursuant
          to Section 906 of The Sarbanes-Oxley Act of 2002, signed by Robert E.
          Swanson, Chief Executive Officer of the Company and Kathleen P.
          McSherry, Chief Financial Officer of the Company




                                       17