Kelt Exploration ( (KELTF) ) has released its Q3 earnings. Here is a breakdown of the information Kelt Exploration presented to its investors.
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Kelt Exploration Ltd. is a Canadian oil and gas company primarily engaged in the exploration, development, and production of petroleum and natural gas resources, with a focus on the Montney resource play in Alberta and British Columbia.
In its latest earnings report for the nine months ending September 30, 2025, Kelt Exploration Ltd. reported a modest increase in petroleum and natural gas sales, alongside a significant rise in cash provided by operating activities. However, the company faced a decline in adjusted funds from operations and net income for the third quarter compared to the previous year.
Key financial metrics highlighted in the report include a 2% increase in petroleum and natural gas sales to $110.4 million for the third quarter and a 25% increase in cash provided by operating activities over the nine-month period. Despite these gains, the company experienced a 9% decrease in adjusted funds from operations for the quarter, alongside a net loss of $7.4 million. Kelt’s production saw a notable increase, with average daily production rising by 16% year-over-year. However, the company also reported a significant increase in net debt, which rose by 133% to $223.7 million.
Looking ahead, Kelt Exploration anticipates significant production growth in the fourth quarter of 2025, driven by new gas processing capacity. The company plans to reduce its net debt by year-end and has adjusted its production and financial forecasts to reflect current market conditions. Kelt remains proactive in managing commodity price risks amid ongoing economic uncertainties.