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BRIEF-Kelt Exploration Reports Q3 Results

Published 2019-11-08, 08:25 a/m
© Reuters.  BRIEF-Kelt Exploration Reports Q3 Results
KEL
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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

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