Business
Kelt Reports Financial and Operating Results for the Three Months Ended March 31, 2025
Calgary, Alberta--(Newsfile Corp. - May 8, 2025) - 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, 2025Calgary, Alberta--(Newsfile Corp. - May 8, 2025) - Kelt Exploration Ltd. (TSX: KEL) (\"Kelt\" or the \"Company\") reports its financial and operating results to shareholders for the first quarter ended March 31, 2025. The Company's financial results are summarized as follows:FINANCIAL HIGHLIGHTSThree months ended March 31(CA$ thousands, except as otherwise indicated)20252024%Petroleum and natural gas sales142,501126,39113Cash provided by operating activities86,92962,49339Adjusted funds from operations (1)78,21461,17628 Basic ($/ common share) (1)0.400.3129 Diluted ($/ common share) (1)0.390.3126          Net income and comprehensive income18,97911,84760 Basic ($/ common share)0.100.0667 Diluted ($/ common share)0.090.0650          Capital expenditures, net of A&D (1)104,74680,18131Total assets1,512,7521,282,45618Net debt (1)150,02431,961369Shareholders' equity1,086,2641,018,6047          Weighted average shares outstanding (000s)    Basic197,531194,6551 Diluted200,525198,2851 (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, 2025 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 8, 2025.Kelt's operating results for the first quarter ended March 31, 2025 are summarized as follows:OPERATIONAL HIGHLIGHTSThree months ended March 31(CA$ thousands, except as otherwise indicated)20252024%Average daily production Oil (bbls/d) (2)9,4448,7588 NGLs (bbls/d)5,6313,49761 Gas (Mcf/d)149,637123,93121 Combined (BOE/d)40,01532,91022Production per million common shares (BOE/d) (1)20316920          Net realized prices, before derivative financial instruments(1)    Oil ($/bbl)93.3290.154 NGLs ($/bbl)41.0752.18-21 Gas ($/Mcf)2.932.94-          Operating netbacks ($/BOE) (1)    Petroleum and natural gas sales39.5742.20-6 Cost ...