Brief: Kelt Exploration Q3 Adjusted FFO Per Share C$0.25

Kelt Exploration

09/11/2018 13:22

Nov 9 (Reuters) - Kelt Exploration Ltd  KEL.TO :
    * KELT REPORTS FINANCIAL AND OPERATING RESULTS FOR THE THREE
AND
NINE MONTHS ENDED SEPTEMBER 30, 2018
    * Q3 ADJUSTED FFO PER SHARE C$0.25
    * Q3 REVENUE C$100.2 MILLION
    * Q3 FFO PER SHARE C$0.25
    * QTRLY  AVERAGE PRODUCTION WAS 26,204 BOE PER DAY, UP 16%
    * REALIZED AVERAGE OIL PRICE DURING Q3 OF 2018 WAS $80.62
PER
BARREL, UP 51%
    * REDUCED ITS ANNUAL 2018 AVERAGE PRODUCTION ESTIMATE TO BE
WITHIN
A RANGE OF 27,000 TO 28,000 BOE PER DAY
    * QTRLY PETROLEUM AND NATURAL GAS REVENUE, BEFORE ROYALTIES
C$100.2 MILLION VERSUS C$56.4 MILLION
    * SEES FY CAPITAL EXPENDITURES, NET OF DISPOSITIONS $287.0
MILLION
    * SEES FY FFO $1.04    PER SHARE
    * PREPARED ITS 2019 FINANCIAL GUIDANCE BASED ON A CAPITAL
EXPENDITURE BUDGET OF $270.0 MILLION
    * ESTIMATED AVERAGE PRODUCTION OF 33,500 TO 34,500 BOE PER
DAY IN
2019
    * PRODUCTION MIX IS EXPECTED TO BE WEIGHTED 47% TO OIL &
NGLS AND
53% TO GAS IN 2019
    * ESTIMATED FUNDS FROM OPERATIONS OF $240.0 MILLION, OR
$1.23 PER
SHARE, IN 2019
    * 2018 CAPITAL EXPENDITURE PROGRAM INCLUDES ABOUT $60.0
MILLION OF
DRILLING AND COMPLETION EXPENDITURES FOR WELLS

Source text for Eikon:  ID:nGNX8L12c7 
Further company coverage:  KEL.TO 

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