Business
Kelt Reports Financial and Operating Results for the Six Months Ended June 30, 2025
Calgary, Alberta--(Newsfile Corp. - August 7, 2025) - 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 Six Months Ended June 30, 2025Calgary, Alberta--(Newsfile Corp. - August 7, 2025) - Kelt Exploration Ltd. (TSX: KEL) (\"Kelt\" or the \"Company\") reports its financial and operating results to shareholders for the second quarter ended June 30, 2025. The Company's financial results are summarized as follows:FINANCIAL HIGHLIGHTSThree months ended June 30Six months ended June 30(CA$ thousands, except as otherwise indicated)20252024%20252024%                   Petroleum and natural gas sales116,418109,0937258,919235,48410Cash provided by operating activities60,69646,41931147,625108,91236Adjusted funds from operations (1)61,84642,45746140,060103,63335 Basic ($/ common share) (1)0.310.22410.710.5334 Diluted ($/ common share) (1)0.310.21480.700.5235                   Net income and comprehensive income32,46110,90519851,44022,752126 Basic ($/ common share)0.160.061670.260.12117 Diluted ($/ common share)0.160.052200.260.11136                   Capital expenditures, net of A&D (1)90,95273,81023195,698153,99127Total assets1,562,5991,328,148181,562,5991,328,14818Bank debt151,43212,6111,101151,43212,6111,101Net debt (1)178,17063,084182178,17063,084182Shareholders' equity1,121,6791,033,20491,121,6791,033,2049                   Weighted average shares outstanding (000s)       Basic199,005195,5662198,272195,1102 Diluted201,749199,6201201,150198,9571 (1) Refer to advisories regarding Non-GAAP and Other Financial Measures.FINANCIAL STATEMENTSKelt's unaudited consolidated interim financial statements and related notes for the quarter ended June 30, 2025 will be available to the public on SEDAR+ at www.sedarplus.ca and will also be posted on the Company's website at www.keltexploration.com on August 7, 2025.Kelt's operating results for the second quarter ended June 30, 2025 are summarized as follows:OPERATIONAL HIGHLIGHTSThree months ended June 30Six months ended June 30(CA$ thousands...