Brief: Kelt Exploration Reports Q3 Results

Kelt Exploration

08/11/2019 13:25

Nov 8 (Reuters) - Kelt Exploration Ltd  KEL.TO :
    * KELT REPORTS FINANCIAL AND OPERATING RESULTS FOR THE THREE
AND
NINE MONTHS ENDED SEPTEMBER 30, 2019
    * Q3 ADJUSTED FFO PER SHARE C$0.21
    * Q3 REVENUE C$93.3 MILLION
    * Q3 FFO PER SHARE C$0.21
    * LOWERED ITS FORECASTED COMMODITY PRICE ASSUMPTIONS FOR
2019
    * KELT EXPLORATION- WTI OIL PRICES EXPECTED TO AVERAGE
US$56.00
PER BARREL AND NYMEX NATURAL GAS PRICES ARE EXPECTED TO AVERAGE
US$2.70 PER MMBTU FOR 2019
    * REDUCED ITS ANNUAL 2019 AVERAGE PRODUCTION ESTIMATE TO BE
WITHIN
A RANGE OF 30,500 TO 31,500 BOE PER DAY
    * KELT EXPLORATION- EXPECTS ADJUSTED FUNDS FROM OPERATIONS
IN 2019
TO BE $190.0 MILLION OR $1.03 PER DILUTED SHARE
    * REALIZED AVERAGE OIL PRICE DURING Q3 OF 2019 WAS $65.41
PER
BARREL, DOWN 19% FROM $80.62 PER BARREL IN Q3 OF 2018
    * KELT EXPLORATION - QTRLY AVERAGE PRODUCTION WAS 31,150 BOE
PER
DAY, AN INCREASE OF 19%
    * KELT EXPLORATION- EXPERIENCED DELAYS COMMENCING PRODUCTION
FROM
ITS WELLS AT WEMBLEY

Source text for Eikon:  ID:nGNX3my4xw 
Further company coverage:  KEL.TO 

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