Business
Kelt Reports Financial and Operating Results for the Three Months Ended March 31, 2024
Calgary, Alberta--(Newsfile Corp. - May 9, 2024) - Kelt Exploration Ltd. (TSX: KEL) ("Kelt" or th...
About this update from Kelt Exploration Ltd.
[{"type":"text","content":"Kelt Reports Financial and Operating Results for the Three Months Ended March 31, 2024Calgary, Alberta--(Newsfile Corp. - May 9, 2024) - Kelt Exploration Ltd. (TSX: KEL) (\"Kelt\" or the \"Company\") reports its financial and operating results to shareholders for the first quarter ended March 31, 2024. The Company's financial results are summarized as follows:FINANCIAL HIGHLIGHTSThree months ended March 31 (CA$ thousands, except as otherwise indicated)20242023%            Petroleum and natural gas sales126,391139,571-9 Cash provided by operating activities62,493100,160-38 Adjusted funds from operations (1)61,17692,000-34       Basic ($/ common share) (1)0.310.48-35        Diluted ($/ common share) (1)0.310.47-34                 Net income and comprehensive income11,84716,336-27        Basic ($/ common share)0.060.09-33        Diluted ($/ common share)0.060.08-25                 Capital expenditures, net of A&D (1)80,18176,6295 Total assets1,282,4561,174,4899 Net debt (surplus) (1)31,961(4,899)-752 Shareholders' equity1,018,604919,80911                 Weighted average shares outstanding (000s)           Basic194,655192,0601        Diluted198,285195,3701  (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 March 31, 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 May 9, 2024.Kelt's operating results for the first quarter ended March 31, 2024 are summarized as follows:OPERATIONAL HIGHLIGHTSThree months ended March 31 (CA$ thousands, except as otherwise indicated)20242023%          Average daily production    &...