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Kelt Reports Financial and Operating Results for the Three and Nine Months Ended September 30, 2022
Calgary, Alberta--(Newsfile Corp. - November 10, 2022) - 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, 2022Calgary, Alberta--(Newsfile Corp. - November 10, 2022) - 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, 2022. 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)20222021%20222021%          Petroleum and natural gas sales143,25475,76189460,638196,240135 Cash provided by operating activities85,10446,54783242,280107,658125 Adjusted funds from operations (1)65,18936,33679234,14193,239151  Basic ($/ common share) 0.340.19791.230.49151  Diluted ($/ common share) 0.330.19741.200.49145          Net income and comprehensive income 23,0893,752515104,52061,26071  Basic ($/ common share)0.120.025000.550.3272  Diluted ($/ common share)0.120.025000.540.3269          Capital expenditures, net of A&D (1)76,18171,1627248,946146,39370 Total assets1,078,619872,212241,078,619872,21224 Net debt (surplus) (1)33,53728,1741933,53728,17419 Shareholders' equity845,103668,56126845,103668,56126          Weighted average shares outstanding (000s)        Basic191,812188,8422190,799188,6881  Diluted196,118191,0923195,159190,2993   (1) Refer to advisories regarding Non-GAAP and Other Financial MeasuresFinancial StatementsKelt's unaudited consolidated interim financial statements and related notes for the quarter ended September 30, 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 November 10, 2022.Kelt's operating results for the third quarter ended September 30, 2022 are summarized as follows:OPERATIONAL HIGHLIGHTSThree months ended September 30Nine months ended September 30 (CA$ thousands, except as otherwise indicated)20222021%20222021%          Average daily production  Oil (bbls...