Production Downtime
Commencing during the third week of
2022 Guidance
Kelt is reducing its production guidance to be in a range from 28,500 to 29,500 BOE per day (previously forecasted to be in the range from 30,000 to 31,000 BOE per day). At current future strip pricing for both oil and gas and after adjusting for shut-in production outlined above, Kelt expects its estimated 2022 adjusted funds from operations to be within 3% of its previous forecast of
Forward-looking Statements
This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words 'expect', 'anticipate', 'continue', 'estimate', 'execute', 'ongoing', 'may', 'will', 'project', 'should', 'believe', 'plans', 'intends', 'forecasted' and similar expressions are intended to identify forward-looking information or statements. In particular, this press release contains forwardlooking statements pertaining to the following: the expected timing of the drilling and completion of wells, the expected timing of wells being brought on-production, the expected timing of facility expenditures, the expected timing of facility start-up dates, the expected length and timing of facility downtime, timing and approval of permit applications in
Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the oil and gas industry in general, operational risks in development, exploration and production; risks associated with the COVID-19 pandemic; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production including the estimated timing and completion of maintenance on the NGTL and T-South pipeline systems the uncertainty of the completion of the turnaround maintenance at third party gas plants; the volatility of natural gas prices and the potential of future shut-in production caused by low prices;; failure to obtain necessary regulatory approvals for planned operations; health, safety and environmental risks; uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures; volatility of commodity prices, currency exchange rate fluctuations; imprecision of reserve estimates; as well as general economic conditions, stock market volatility; and the ability to access sufficient capital. We caution that the foregoing list of risks and uncertainties is not exhaustive. 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
Contact:
Suite 300,
President and Chief Executive Officer
T: (403) 201-5340
Vice President and Chief Financial Officer
T: (403) 215-5310
Website: www.keltexploration.com
(C) 2022 Electronic News Publishing, source