# Kelt Exploration Posts C$193.3 Million in Q3 Revenue, C$0.13 GAAP EPS

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/56757
Published: 2026-11-13T14:22:45.000Z
Updated: 2026-11-13T14:22:45.000Z
Section: Business

> The company projects 50,000 to 51,000 barrels of oil equivalent per day in 2026, up from 40,397 barrels of oil equivalent per day in 2025.

Kelt Exploration Ltd. posted C$193.3 million in third-quarter revenue, up 75.1% from a year earlier, and forecast 25% higher combined production in 2026 than in 2025.

The company recorded GAAP earnings per share of C$0.13 for the quarter. Its 2026 combined production forecast is 50,000 to 51,000 barrels of oil equivalent per day, compared with 40,397 barrels of oil equivalent per day in 2025.

Kelt projected oil and natural gas liquids production of 19,800 to 20,200 barrels per day, up 35% from 14,861 in 2025. Gas production was forecast at 181,200 to 184,800 thousand cubic feet per day, a 19% increase from 153,214.

The 2026 forecast calls for C$821.5 million in petroleum and natural gas sales, 60% above C$513.1 million in 2025. Adjusted funds from operations were projected at C$427 million, up 63% from C$261.5 million. Diluted adjusted funds from operations per share was forecast at C$2.07, compared with C$1.29 in 2025.

Capital expenditures, net of acquisitions and dispositions, were projected at C$395 million, up 20% from C$328.3 million. Kelt forecast year-end net debt of C$153 million, down 19% from C$189.7 million, and a net debt-to-adjusted-funds-from-operations ratio of 0.4 times, compared with 0.7 times in 2025.