Kelt Exploration ( (KELTF) ) has released its Q2 earnings. Here is a breakdown of the information Kelt Exploration presented to its investors.
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Kelt Exploration Ltd. is a Canadian company engaged in the exploration, development, and production of petroleum and natural gas, operating primarily in the oil and gas sector. The company is known for its strategic focus on resource-rich areas in Western Canada.
In its latest earnings report for the six months ended June 30, 2025, Kelt Exploration Ltd. showcased a solid financial performance with notable increases in revenue and net income. The company reported a 10% increase in petroleum and natural gas sales, reaching $258.9 million, and a significant 126% rise in net income, amounting to $51.4 million compared to the same period in the previous year.
Key financial metrics highlighted in the report include a 36% increase in cash provided by operating activities, totaling $147.6 million, and a 35% rise in adjusted funds from operations, reaching $140.1 million. The company’s average daily production also saw a substantial increase of 24%, with a combined output of 39,370 BOE per day. Despite a decline in realized oil and NGL prices, Kelt managed to improve its operating netback by 11% to $21.39 per BOE.
Looking ahead, Kelt Exploration is poised for continued growth, with plans to ramp up production following the anticipated operational start of the Albright Gas Plant. The company expects to achieve an average production range of 42,000 to 45,000 BOE per day for 2025, supported by strategic investments in drilling and completion activities. Kelt’s management remains focused on navigating the volatile commodity market and capitalizing on new revenue streams, such as sulfur sales, to enhance financial performance.