Brief: Kelt reports financial and operating results for the three and nine months ended September 30, 2016

Kelt Exploration

10/11/2016 12:00

Nov 10 (Reuters) - Kelt Exploration Ltd  KEL.TO  
    * Kelt reports financial and operating results for the three 
and nine months ended September 30, 2016 
    * Kelt exploration ltd qtrly says average daily production 
combined 20,542 boe/d versus 18,695 boe/d 
    * Kelt exploration ltd says forecasted 2017 funds from 
operations of $124.0 million 
    * Kelt exploration ltd says board increased Kelt's 2016 
capital expenditures budget to $97.0 million, up 11% from its 
previous budget of $87.0 million 
    * Kelt exploration ltd says board has also approved an 
initial capital expenditure budget of $134.0 million for 2017 
    * Kelt exploration says forecast average production of 
23,000 boe/day in 2017, a 10% increase from forecast average 
production of 21,000 boe per day in 2016 
    * Kelt exploration ltd says Kelt estimates that company's 
bank debt, net of working capital, will be approximately $148.0 
million as at December 31, 2017 
    * Q3 FFO per share c$0.10 
    * Q3 revenue c$47.8 million versus I/B/E/S view c$46 million 
 
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