Kelt Exploration Sets New Quarterly Production Record Amid Soaring Oil Prices
Kelt Exploration Ltd., an oil and gas company based in Alberta, Canada, reported its financial and operating results for the three months ended June 30, 2026. The Company achieved a new record high quarterly production average of 50,388 BOE per day, up 30% from the corresponding period in 2025.
The realized average oil price was $131.65 per barrel, up 60% from $82.52 per barrel in the second quarter of 2025. Kelt's net debt stood at $242.1 million as of June 30, 2026, representing 0.6 times forecasted 2026 adjusted funds from operations.
The Company also announced that it has drilled and completed 12 Montney wells in its Wembley/Pipestone Division, with an additional five wells currently being completed. Kelt plans to drill and complete three more Montney D3/D4 wells by the end of the year.