Kelt Exploration Reports Strong Q1 2025 Performance

Kelt Exploration ( (KELTF) ) has released its Q1 earnings. Here is a breakdown of the information Kelt Exploration presented to its investors.

Kelt Exploration Ltd. is a Canadian company operating in the oil and gas sector, primarily engaged in the exploration, development, and production of petroleum and natural gas resources. The company is noted for its strategic focus on the Montney and Charlie Lake formations in Western Canada.

In the first quarter of 2025, Kelt Exploration reported significant growth in both financial and operational metrics. The company achieved a record average daily production of 40,015 barrels of oil equivalent per day (BOE/d), marking a 22% increase from the same period in 2024. Petroleum and natural gas sales rose to $142.5 million, a 13% increase year-over-year, while net income surged by 60% to $18.979 million.

Key financial highlights include a 39% increase in cash provided by operating activities, reaching $86.929 million, and a 28% rise in adjusted funds from operations, totaling $78.214 million. Despite a 369% increase in net debt to $150.024 million, the company maintained a strong financial position with total assets growing by 18% to $1.512 billion. Kelt also reported a strategic capital expenditure of $104.746 million, focusing on drilling, facilities, and seismic activities.

Looking ahead, Kelt Exploration anticipates continued growth with a forecasted production increase of up to 42% for 2025, targeting an average of 44,000 to 47,000 BOE/d. The company plans to invest $325 million in capital expenditures, focusing on expanding its drilling and processing capacities. Despite a revised outlook on commodity prices, Kelt remains optimistic about its operational efficiency and financial resilience.

Overall, Kelt Exploration’s robust first-quarter performance and strategic investments position the company well for sustained growth in the competitive oil and gas industry.