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Kelt Reports Financial and Operating Results for the Three and Six Months Ended June 30, 2024
Calgary, Alberta--(Newsfile Corp. - August 8, 2024) - 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 Three and Six Months Ended June 30, 2024Calgary, Alberta--(Newsfile Corp. - August 8, 2024) - 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, 2024. 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)20242023%20242023%                     Petroleum and natural gas sales109,093110,061-1235,484249,632-6 Cash provided by operating activities46,41968,163-32108,912168,323-35 Adjusted funds from operations (1)42,45758,810-28103,633150,810-31  Basic ($/ common share) (1)0.220.31-290.530.78-32  Diluted ($/ common share) (1)0.210.30-300.520.77-32                     Net income and comprehensive income10,90525,799-5822,75242,135-46  Basic ($/ common share)0.060.13-540.120.22-45  Diluted ($/ common share)0.050.13-620.110.22-50                     Capital expenditures, net of A&D (1)73,81045,03564153,991121,66427 Total assets1,328,1481,174,609131,328,1481,174,60913 Bank debt12,611--12,611-- Net debt (surplus) (1)63,084(18,580)-44063,084(18,580)-440 Shareholders' equity1,033,204948,21591,033,204948,2159                     Weighted average shares outstanding (000s)        Basic195,566192,5382195,110192,3001  Diluted199,620196,3662198,957195,8422 (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, 2024 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 8, 2024.Kelt's operating results for the second quarter...