United Kingdom

Kelt Exploration posts Q3 adjusted FFO per share C$0.13

Thursday, 9 Nov 2017 

Nov 9 (Reuters) - Kelt Exploration Ltd :Kelt reports financial and operating results for the three and nine months ended September 30, 2017.Q3 adjusted FFO per share C$0.13.Q3 revenue C$56.4 million versus I/B/E/S view C$57.7 million.Sees FY 2018 FFO per share c$0.97.Q3 FFO per share c$0.13.Kelt Exploration Ltd - Qtrly ‍average production was 22,510 boe per day, up 10% from last year​.Kelt Exploration Ltd - ‍Expects to exit 2017 with about 27,500 BOE per day of estimated production, up 4% from previous estimate of 26,500 boe per day​.Kelt Exploration Ltd - ‍Kelt has prepared its 2018 budget based on capital expenditures of $210.0 million​.Kelt Exploration Ltd - ‍Company's board of directors has increased kelt's 2017 capital expenditures budget to $226.0 million​.Kelt Exploration Ltd - ‍Forecasted average production of 21,800 boe per day in 2017​.Kelt Exploration Ltd - ‍Forecasted average production in 2018 is estimated to be from 28,500 boe per day to 29,500 boe per day​.Kelt Exploration Ltd - ‍Kelt estimates that company's bank debt, net of working capital, will be approximately $155.0 million as at December 31, 2018​.