Business
Kelt Reports Financial and Operating Results for the Three and Nine Months Ended September 30, 2021
Calgary, Alberta--(Newsfile Corp. - November 10, 2021) - Kelt Exploration Ltd. (TSX: KEL) ("Ke...
About this update from Kelt Exploration Ltd.
[{"type":"text","content":"Kelt Reports Financial and Operating Results for the Three and Nine Months Ended September 30, 2021Calgary, Alberta--(Newsfile Corp. - November 10, 2021) - Kelt Exploration Ltd. (TSX: KEL) (\"Kelt\" or the \"Company\") reports its financial and operating results to shareholders for the three and nine months ended September 30, 2021.The Company's financial results are summarized as follows:FINANCIAL HIGHLIGHTSThree months ended September 30Nine months ended September 30(CA$ thousands, except as otherwise indicated)20212020%20212020%       Petroleum and natural gas sales75,76148,82355196,240165,19519Cash provided by (used in) operating activities46,547(8,610)641107,65855,99192Adjusted funds from operations (1)36,3369,00230493,23948,07494    Basic ($/ common share) (1)0.190.052800.490.2688    Diluted ($/ common share) (1)0.190.052800.490.2596       Net income (loss) and comprehensive income (loss)3,752(24,080)11661,260(350,826)117    Basic ($/ common share)0.02(0.13)1150.32(1.87)117    Diluted ($/ common share)0.02(0.13)1150.32(1.87)117       Capital expenditures, net of dispositions71,162(497,321)114146,393(378,427)139Total assets872,212824,7516872,212824,7516Net debt (surplus) (1)28,174(132,263)12128,174(132,263)121Convertible debentures-89,910(100)-89,910(100)Shareholders' equity668,561576,86216668,561576,86216       Weighted average shares outstanding (000s)    Basic188,842188,126-188,688187,939-    Diluted191,092188,7401190,299188,6771  (1) Refer to advisories regarding non-GAAP financial measures and other key performance indicators.Financial StatementsKelt's unaudited consolidated interim financial statements and related notes for the quarter ended September 30, 2021 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 November 10, 2021.Kelt's operating results for the third quarter ended September 30, 2021 are summarized as follows:OPERATIONAL HIGHLIGHTSThree months ended September 30Nine months ended September 30(CA$ thousands, except as otherwise indicated)20212020%20212020%       Average daily productio...