Business
Kelt Reports Financial and Operating Results for the Three and Six Months Ended June 30, 2022
Calgary, Alberta--(Newsfile Corp. - August 4, 2022) - Kelt Exploration Ltd. (TSX: KEL) ("Kelt"...
About this update from Kelt Exploration Ltd.
[{"type":"text","content":"Kelt Reports Financial and Operating Results for the Three and Six Months Ended June 30, 2022Calgary, Alberta--(Newsfile Corp. - August 4, 2022) - Kelt Exploration Ltd. (TSX: KEL) (\"Kelt\" or the \"Company\") reports its financial and operating results to shareholders for the three and six months ended June 30, 2022. The Company's financial results are summarized as follows: FINANCIAL HIGHLIGHTSThree months ended June 30 Six months ended June 30 (CA$ thousands, except as otherwise indicated)20222021%20222021%       Petroleum and natural gas sales178,93860,644195317,384120,479163Cash provided by operating activities91,62334,529165157,17661,111157Adjusted funds from operations (1)94,78329,452222168,95256,903197      Basic ($/ common share) (1)0.500.162130.890.30197      Diluted ($/ common share) (1)0.480.152200.870.30190       Net income and comprehensive income 70,71154,6542981,43157,50842      Basic ($/ common share)0.370.29280.430.3043      Diluted ($/ common share)0.360.29240.420.3040       Capital expenditures, net of A&D (1)89,07245,78695172,76575,232130Total assets1,035,372842,454231,035,372842,45423Net debt (surplus) (1)23,117(6,696)-44523,117(6,696)-445Shareholders' equity818,734663,28423818,734633,28423       Weighted average shares outstanding (000s)      Basic191,174188,6341190,284188,6101      Diluted195,848190,4913194,576190,2232   (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 June 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 August 4, 2022.Kelt's operating results for the second quarter ended June 30, 2022 are summarized as follows:OPERATIONAL HIGHLIGHTS Three months ended June 30 Six months ended June 30(CA$ thousands, except as otherwise indicated)20222021%20222021%          Average daily prod...