Kelt Reports 2024 Production Volumes and an Update on the Company's Engineering Evaluator
Kelt Exploration reported its 2024 production volumes, achieving an average of 33,115 BOE per day (37% liquids, 63% gas), aligning with previous guidance. The company finished strong with December production averaging 38,369 BOE per day (38% liquids, 62% gas).
The company anticipates continued production growth in 2025 as new raw gas processing capacity becomes available, bringing additional production from existing wells and new production from its 2025 program. Kelt has also announced the appointment of McDaniel & Associates Consultants as its independent qualified reserves evaluator for the year ended December 31, 2024.
The company plans to release its annual reserve evaluation alongside year-end financial results on March 13, 2025. This timing adjustment will enable Kelt to use audited financial figures for calculating metrics like finding and development costs, recycle ratios, and operating netbacks.
Kelt Exploration ha riportato i volumi di produzione per il 2024, raggiungendo una media di 33.115 BOE al giorno (37% liquidi, 63% gas), in linea con le indicazioni precedenti. L'azienda ha chiuso l'anno con forza, con una produzione media di 38.369 BOE al giorno a dicembre (38% liquidi, 62% gas).
L'azienda prevede una continua crescita della produzione nel 2025, poiché diventerà disponibile una nuova capacità di lavorazione del gas grezzo, portando a una produzione aggiuntiva dai pozzi esistenti e nuova produzione dal suo programma per il 2025. Kelt ha anche annunciato la nomina di McDaniel & Associates Consultants come valutatore indipendente qualificato delle riserve per l'anno conclusosi il 31 dicembre 2024.
L'azienda prevede di pubblicare la sua valutazione annuale delle riserve insieme ai risultati finanziari di fine anno il 13 marzo 2025. Questo aggiustamento temporale consentirà a Kelt di utilizzare i dati finanziari auditati per calcolare metriche come i costi di ricerca e sviluppo, i rapporti di riciclo e i ricavi operativi netti.
Kelt Exploration informó sobre sus volúmenes de producción para 2024, logrando un promedio de 33,115 BOE por día (37% líquidos, 63% gas), alineándose con las pautas anteriores. La empresa terminó el año con fuerza, con una producción promedio de 38,369 BOE por día en diciembre (38% líquidos, 62% gas).
La compañía anticipa un crecimiento continuo de la producción en 2025 a medida que se disponga de nueva capacidad de procesamiento de gas crudo, lo que traerá producción adicional de los pozos existentes y nueva producción de su programa de 2025. Kelt también ha anunciado el nombramiento de McDaniel & Associates Consultants como su evaluador independiente de reservas calificado para el año que finalizó el 31 de diciembre de 2024.
La empresa planea publicar su evaluación anual de reservas junto con los resultados financieros de fin de año el 13 de marzo de 2025. Este ajuste de tiempo permitirá a Kelt utilizar cifras financieras auditadas para calcular métricas como costos de búsqueda y desarrollo, tasas de reciclaje y márgenes operativos netos.
Kelt Exploration는 2024년 생산량을 보고하며 33,115 BOE 하루 평균 (37% 액체, 63% 가스)를 달성했으며, 이는 이전 가이드라인과 일치합니다. 회사는 12월에 38,369 BOE 하루 평균 (38% 액체, 62% 가스)의 생산량으로 강하게 마무리했습니다.
회사는 새로운 원가스 처리 능력이 가용해짐에 따라 2025년에도 지속적인 생산 증가를 예상하고 있으며, 이는 기존 유정에서 추가 생산과 2025년 프로그램에서의 새로운 생산을 가져올 것입니다. Kelt는 또한 McDaniel & Associates Consultants를 2024년 12월 31일 기준 독립 자격 보유 평가자로 임명했다고 발표했습니다.
회사는 2025년 3월 13일에 연간 자원 평가를 연말 재무 결과와 함께 발표할 계획입니다. 이 시기 조정은 Kelt가 탐색 및 개발 비용, 재활용 비율 및 운영 순이익과 같은 지표를 계산하기 위해 감사된 재무 수치를 사용할 수 있게 해줄 것입니다.
Kelt Exploration a rapporté ses volumes de production pour 2024, atteignant une moyenne de 33 115 BOE par jour (37 % liquides, 63 % gaz), conformément aux prévisions précédentes. L'entreprise a terminé l'année en force, avec une production moyenne de 38 369 BOE par jour en décembre (38 % liquides, 62 % gaz).
L'entreprise prévoit une croissance continue de la production en 2025 à mesure que de nouvelles capacités de traitement de gaz brut deviennent disponibles, entraînant une production supplémentaire des puits existants et une nouvelle production de son programme 2025. Kelt a également annoncé la nomination de McDaniel & Associates Consultants comme évaluateur indépendant qualifié des réserves pour l'année se terminant le 31 décembre 2024.
L'entreprise prévoit de publier son évaluation annuelle des réserves en même temps que les résultats financiers de fin d'année le 13 mars 2025. Ce réajustement temporel permettra à Kelt d'utiliser des chiffres financiers audités pour calculer des indicateurs tels que les coûts de recherche et développement, les ratios de recyclage et les marges nettes d'exploitation.
Kelt Exploration berichtete über seine Produktionsvolumina für 2024 und erzielte einen Durchschnitt von 33.115 BOE pro Tag (37% Flüssigkeiten, 63% Gas), was mit den vorherigen Vorgaben übereinstimmt. Das Unternehmen schloss das Jahr stark ab, mit einer durchschnittlichen Produktion von 38.369 BOE pro Tag im Dezember (38% Flüssigkeiten, 62% Gas).
Das Unternehmen erwartet ein kontinuierliches Produktionswachstum im Jahr 2025, da neue Rohgasverarbeitungskapazitäten verfügbar werden, was zusätzliche Produktion aus bestehenden Bohrlöchern und neue Produktion aus seinem Programm für 2025 mit sich bringt. Kelt hat auch die Ernennung von McDaniel & Associates Consultants als unabhängigen qualifizierten Reservenbewerter für das am 31. Dezember 2024 endende Jahr bekannt gegeben.
Das Unternehmen plant, seine jährliche Reservenbewertung zusammen mit den Jahresabschlusszahlen am 13. März 2025 zu veröffentlichen. Diese zeitliche Anpassung ermöglicht es Kelt, geprüfte Finanzzahlen zur Berechnung von Kennzahlen wie Such- und Entwicklungskosten, Recyclingverhältnissen und operativen Nettomargen zu verwenden.
- Production met guidance at 33,115 BOE per day in 2024
- Strong December 2024 exit rate of 38,369 BOE per day
- Expected production growth in 2025 from existing wells and new program
- None.
Calgary, Alberta--(Newsfile Corp. - February 20, 2025) - Kelt Exploration Ltd. (TSX: KEL) ("Kelt" or "the Company") is pleased to report on its 2024 production volumes and exit rates, together with a change of its qualified reserves evaluator.
Kelt's average production for 2024 was 33,115 BOE per day (
Kelt is also pleased to announce that it has retained McDaniel & Associates Consultants Ltd. ("McDaniel") as its independent qualified reserves evaluator for the year ended December 31, 2024. Kelt expects to release the highlights of its annual reserve evaluation together with its year-end financial and operating results on March 13, 2025. This timing change will allow Kelt to use audited financial figures in conjunction with its reserves information to provide finalized metrics in the calculation of certain metrics such as finding and development costs, recycle ratios, net debt, capital expenditures, operating income and operating netback. Kelt expects to incorporate this into its annual reporting practice, consistent with the trend among its industry peers.
The evaluator change was made to better align Kelt with the majority of Montney producers in Western Canada who already retain McDaniel for preparation of their independent reserve reports. This change also provides Kelt access to McDaniel's extensive experience in connection with the evaluation and transaction of assets, where they have worked with both buyers and sellers across numerous transactions. In addition, McDaniel will work closely with Kelt to continuously refine full field development plans across all of Kelt's assets.
Advisory Regarding Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of and of the words "expects", "will", and similar expressions are intended to identify forward-looking statements. In particular, this press release contains forward-looking statements pertaining to the following: the ability to achieve future production growth and the expected timing of wells brought on-production.
Certain information with respect to Kelt contained herein, including management's assessment of future plans and operations, contains forward-looking statements. These forward-looking statements are based on assumptions and are subject to numerous risks and uncertainties, many of which are beyond Kelt's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency exchange rate fluctuations, imprecision of reserve estimates, environmental risks, competition from other explorers, stock market volatility and ability to access sufficient capital. As a result, Kelt's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any events anticipated by the forward-looking statements will transpire or occur.
In addition, the reader is cautioned that historical results are not necessarily indicative of future performance. The forward-looking statements contained herein are made as of the date hereof and the Company does not intend, and does not assume any obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise unless expressly required by applicable securities laws.
Certain information set out herein may be considered as "financial outlook" within the meaning of applicable securities laws. The purpose of this financial outlook is to provide readers with disclosure regarding Kelt's reasonable expectations as to the anticipated results of its proposed business activities for the periods indicated. Readers are cautioned that the financial outlook may not be appropriate for other purposes.
Measurements
This press release contains various references to the abbreviation BOE which means barrels of oil equivalent. Where amounts are expressed on a BOE basis, natural gas volumes have been converted to oil equivalence at six thousand cubic feet per barrel and sulphur volumes have been converted to oil equivalence at 0.6 long tons per barrel. The term BOE may be misleading, particularly if used in isolation. A BOE conversion ratio of six thousand cubic feet per barrel is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead and is significantly different than the value ratio based on the current price of crude oil and natural gas. This conversion factor is an industry accepted norm and is not based on either energy content or current prices. Such abbreviation may be misleading, particularly if used in isolation. References to "liquids" in this press release include crude oil and field condensate and NGLs. NGLs include pentane, butane, propane, and ethane. References to "liquids" include field condensate and NGLs. References to "gas" in this discussion include natural gas and sulphur.
For further information, please contact:
Kelt Exploration Ltd., Suite 300, 311 - 6th Avenue SW, Calgary, Alberta, Canada T2P 3H2
David J. Wilson, President and Chief Executive Officer (403) 201-5340.
Or visit our website at www.keltexploration.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241609
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