Welcome to our dedicated page for Kelt Exploration news (Ticker: KELTF), a resource for investors and traders seeking the latest updates and insights on Kelt Exploration stock.
Kelt Exploration Ltd. (TSX: KEL; OTC: KELTF) is an oil and gas producer that issues frequent operational and financial updates, making its news flow relevant for investors following the crude petroleum and natural gas sector. The company reports petroleum and natural gas sales, adjusted funds from operations, capital expenditures and net debt, and regularly publishes guidance that links its capital programs to expected production in barrels of oil equivalent per day.
News releases from Kelt often cover quarterly and year-to-date financial and operating results, including average daily production volumes, product mix between oil, natural gas liquids and gas, and realized prices for each commodity. The company also reports on operating netbacks, non-GAAP financial measures and derivative financial instrument gains or losses, providing context on how commodity prices and hedging strategies affect its performance.
Operational updates are another key component of Kelt's news. The company provides detail on drilling and completion activity in its Wembley/Pipestone, Pouce Coupe/Progress/Spirit River and Oak/Flatrock divisions, including the number of wells drilled and completed on specific pads and timing for bringing wells on production. Kelt also reports on access to third-party gas processing capacity, such as firm service at the CSV Midstream Solutions Corp. Albright Gas Plant and other gas plants, and how these facilities influence shut-in volumes and production ramp-up.
In addition, Kelt's news includes annual capital expenditure budgets and financial and operating guidance, with forecasted commodity price assumptions, expected adjusted funds from operations and net debt metrics. Governance-related announcements, such as shareholder meeting results, board changes and equity plan approvals, are also disclosed. Investors and analysts can use this news stream to follow Kelt's production trends, capital allocation and risk management practices over time.
Kelt Exploration (TSX: KELTF) provided its 2026 financial and operating guidance on January 5, 2026, setting a $355.0 million capital expenditure budget and forecasting $355.0 million of adjusted funds from operations (AFFO) for 2026. Production is guided to 50,000–52,000 BOE/d (38% oil & NGLs, 62% gas), a 26% increase versus 2025 forecast mid-point. Key financials: AFFO +27% to $355.0M, capital spending up to $355.0M (71% drilling/completions), year-end net debt forecast at $170.0M and net debt/AFFO of 0.5x. Commodity-price sensitivities: 10% oil change impacts AFFO by $25.3M; 10% gas change impacts AFFO by $19.4M.
Kelt Exploration (TSX:KELTF) reported Q3 2025 results on November 13, 2025. Q3 production averaged 37,710 BOE/d, up 16% year-over-year, and petroleum and natural gas sales were CA$110.4M. Adjusted funds from operations for Q3 were CA$44.6M (CA$0.22/share diluted). Net capital expenditures in Q3 were CA$89.8M and net debt at September 30 was CA$223.7M.
The company forecasts 2025 average production of 40,000–41,000 BOE/d, adjusted funds from operations of CA$280M, and expects year-end net debt of CA$170M (0.6x AFFO). Q3 realized oil and NGL prices declined YoY while gas prices rose.
Kelt Exploration (TSX: KEL) announced that CSV Midstream Solutions has completed commissioning and started operations at the new Albright gas plant near Wembley/Pipestone, Alberta.
Kelt has begun deliveries and will ramp volumes during start-up. The company said 2025 average production guidance from the low end (previously ~42,000 BOE/d) is expected to be reduced by 3%–5% due to the plant delay and temporary shut-ins. Kelt had shut-in ~60 MMcf/d for ~15 days and has since returned that gas to service as AECO recovered to near $2.45/GJ (Nov 2025) and $3.25/GJ (Dec 2025). Wembley/Pipestone divisional production was ~14,300 BOE/d (55% liquids) for the seven months ended July 31, 2025, and is expected to rise to 23,000–25,000 BOE/d after Albright ramp-up.
Kelt Exploration (TSX:KEL) provided an update regarding delays at the third-party Albright Gas Plant near Wembley/Pipestone, Alberta. The plant, owned by CSV Midstream Solutions, has encountered technical issues with its sulphur recovery system during commissioning, specifically a malfunctioning four-way valve. CSV is currently conducting a root cause analysis, with results expected in early September 2025.
The delay significantly impacts Kelt's production, as the company has contracted 50 MMcf per day of the plant's 150 MMcf per day capacity. Each week of delay reduces Kelt's 2025 daily average production by 175 BOE per day. The company's Wembley/Pipestone division currently produces 14,300 BOE per day and is expected to increase to 23,000-24,000 BOE per day once Albright becomes operational.
Kelt Exploration (TSX:KEL) reported strong Q2 2025 financial results with significant year-over-year growth. Production averaged 38,734 BOE per day, up 26% from Q2 2024, with a 36% oil and NGLs weighting. The company achieved petroleum and natural gas sales of $116.4 million and adjusted funds from operations of $61.8 million ($0.31 per share).
Net income reached $32.5 million, a 198% increase year-over-year. The company maintained a strong balance sheet with net debt of $178.2 million, representing 0.5x forecasted 2025 adjusted funds from operations. For 2025, Kelt revised its production guidance to 42,000-45,000 BOE/d due to delays in the Albright Gas Plant startup, while maintaining its adjusted funds from operations forecast at $325 million.
Kelt Exploration (TSX: KEL) held its Annual and Special Meeting of Shareholders on April 23, 2025, with 67.5% of common shares represented. The company announced significant board changes, including the retirement of Michael R. Shea after seven years of service and the election of Ray Kwan as a new director.
Kwan, who brings over 20 years of capital markets and energy industry experience, will serve as chair of the audit committee and member of the reserves committee. The shareholders approved fixing the board size at six directors and elected all nominated directors with strong majority votes exceeding 97%.
Additionally, shareholders approved amendments to the restricted share unit plan and a new performance share unit plan, both receiving over 98% support. PricewaterhouseCoopers LLP was appointed as auditor with 99.2% approval.
Kelt Exploration has released its Q4 and full-year 2024 financial results. Q4 production averaged 36,450 BOE per day, up 13% from Q4 2023, while full-year production increased 9% to 33,115 BOE per day. Q4 production mix was 39% oil/NGLs and 61% gas.
Q4 2024 petroleum and natural gas sales decreased 3% to $125.1 million, with full-year sales down 5% to $468.4 million. Net realized prices declined across all products: oil (-3% to $92.53/barrel), NGLs (-23% to $38.50/barrel), and gas (-27% to $2.02/Mcf).
The company reported Q4 adjusted funds from operations of $69.4 million ($0.35 per share), compared to $66.6 million in Q4 2023. Full-year net income was $45.4 million ($0.23 per share), down from $86.0 million in 2023. Net debt increased to $124.9 million from $13.0 million year-over-year.
Proved plus Probable reserves increased to 435.2 million BOE, with oil and NGL reserves up 16% year-over-year. The company's 2025 capital expenditure guidance remains at $328.0 million, with production expected between 44,000-48,000 BOE per day.
Kelt Exploration reported its 2024 production volumes, achieving an average of 33,115 BOE per day (37% liquids, 63% gas), aligning with previous guidance. The company finished strong with December production averaging 38,369 BOE per day (38% liquids, 62% gas).
The company anticipates continued production growth in 2025 as new raw gas processing capacity becomes available, bringing additional production from existing wells and new production from its 2025 program. Kelt has also announced the appointment of McDaniel & Associates Consultants as its independent qualified reserves evaluator for the year ended December 31, 2024.
The company plans to release its annual reserve evaluation alongside year-end financial results on March 13, 2025. This timing adjustment will enable Kelt to use audited financial figures for calculating metrics like finding and development costs, recycle ratios, and operating netbacks.
Kelt Exploration has announced its 2025 financial and operating guidance with a capital expenditure budget of $328.0 million. The company forecasts $345.0 million in adjusted funds from operations, representing a 56% increase from 2024. Production is expected to average between 44,000 and 48,000 BOE per day, up 40% from 2024, with a product mix of 37% oil/NGLs and 63% gas.
The capital budget allocation includes $209.0 million (64%) for drilling 30.5 net wells and completing 33.5 net wells, $97.0 million (30%) for equipment and infrastructure, and $22.0 million (6%) for land purchases and seismic operations. The company projects to end 2025 with net debt of $100.0 million, representing a healthy 0.3x net debt to AFFO ratio.