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Kelt Provides 2026 Financial and Operating Guidance and Sets Its 2026 Capital Expenditure Budget at $355 Million
Calgary, Alberta--(Newsfile Corp. - January 5, 2026) - Kelt Exploration Ltd. (TSX: KEL) ("Kelt" o...
About this update from Kelt Exploration Ltd.
[{"type":"text","content":"Kelt Provides 2026 Financial and Operating Guidance and Sets Its 2026 Capital Expenditure Budget at $355 MillionCalgary, Alberta--(Newsfile Corp. - January 5, 2026) - Kelt Exploration Ltd. (TSX: KEL) (\"Kelt\" or the \"Company\") is providing financial and operating guidance for 2026. The Company expects to incur $355.0 million in capital expenditures during the year and is forecasting to generate $355.0 million in adjusted funds from operations in 2026.The following table outlines Kelt's forecasted average commodity price assumptions for 2026 with actual 2024 and forecasted 2025 commodity prices shown for comparative purposes:Commodity Index2024Actual2025 Forecast(Nov/13/25)2026BudgetChange2026/2025WTI Oil (USD/bbl)76.5666.0059.00(11%)MSW Oil (CAD/bbl)98.7087.5476.80(12%)NYMEX Henry Hub Gas (USD/MMBtu)2.253.503.809%DAWN Gas (USD/MMBtu)1.973.303.609%AECO NIT Gas (CAD/GJ)1.381.732.8062%STATION 2 Gas (CAD/GJ)1.131.192.80133%Exchange Rate (USD/CAD)0.72990.71610.72601%Exchange Rate (CAD/USD)1.37001.39651.3775(1%) Financial and operating highlights forecasted for 2026 compared to 2025 forecasts are outlined in the table below:Financial and Operating Highlights($MM, unless otherwise specified)2025 Forecast(Nov/13/25)2026BudgetChangeProduction Oil & NGLs (bbls/d)14,600 - 15,40019,100 - 20,10031% [2] Gas (MMcf/d)152,400 - 153,600185,400 - 191,40023% [2] Combined (BOE/d)40,000 - 41,00050,000 - 52,00026% [2]P&NG Sales [1]536.1682.027%Adjusted Funds from Operations [1]280.0355.027% AFFO per share, diluted ($/share) [1]1.381.7325%Capital Expenditures, net of A&D [1]325.0355.09%Net Debt, at year-end [1]170.0170.00%Net Debt / AFFO ratio [1]0.6 x0.5 xNotes:[1] Refer to advisories regarding \"Non-GAAP and Other Financial Measures\".[2] Percent change for production is calculated using the mid-point of each production range. Kelt's Board of Directors has approved a capital expenditure program of $355.0 million in 2026. The Company expects to spend $252.0 million (71%) drilling 33.2 net wells and completing 37.2 net wells during the year. An estimated $96.0 million (27%) is expected to be incurred equipping new wells and on other related infrastructure such as facilities and pipelines. The remaining budget of $7.0 million (2%) is expected to be spent on land purchases and other miscellaneous.Production in 2026 is expected to...