Business
Kelt Reports Financial and Operating Results for the Quarter and Year Ended December 31, 2022
Calgary, Alberta--(Newsfile Corp. - March 3, 2023) - Kelt Exploration Ltd. (TSX: KEL) ("Kelt" or ...
About this update from Kelt Exploration Ltd.
[{"type":"text","content":"Kelt Reports Financial and Operating Results for the Quarter and Year Ended December 31, 2022Calgary, Alberta--(Newsfile Corp. - March 3, 2023) - Kelt Exploration Ltd. (TSX: KEL) (\"Kelt\" or the \"Company\") has released its financial and operating results for the fourth quarter and year ended December 31, 2022. The Company's financial results are summarized as follows:FINANCIAL HIGHLIGHTSThree months ended December 31Year ended December 31 (CA$ thousands, except as otherwise indicated)20222021%20222021%                      Petroleum and natural gas sales152,720120,52327613,358316,76394 Cash provided by operating activities63,74252,05622306,022159,71492 Adjusted funds from operations (1)92,85168,15536326,992161,394103  Basic ($/ common share) (1)0.480.36331.710.85101  Diluted ($/ common share) (1)0.470.35341.670.8596                      Net income and comprehensive income54,23852,9962158,758114,25639  Basic ($/ common share)0.280.28-0.830.6136  Diluted ($/ common share)0.280.28-0.810.6035                      Capital expenditures, net of A&D (1)68,59467,1182317,540213,51149 Total assets1,128,104913,497231,128,104913,49723 Bank debt11,3001,15088311,3001,150883 Net debt (1)9,78928,220-659,78928,220-65 Shareholders' equity901,424722,72425901,424722,72425                      Weighted average shares outstanding (000s)        Basic191,812189,1341191,101188,8001  Diluted195,828192,6762195,456190,8072   (1) Refer to advisories regarding Non-GAAP and Other Financial Measures.Financial StatementsKelt's audited annual consolidated annual financial statements and related notes for the year ended December 31, 2022 will be available to the public on SEDAR at www.sedar.com and will also be posted on the Company's website at www.keltexploration.com on March 3, 2023.Kelt's operating results for the fourth quarter and year ended December 31, 2...