A: Kelt Exploration, $6.31, symbol KEL on Toronto (Shares outstanding: 174.6 million; Market cap: $1.1 billion; www.keltexploration.com), explores for oil and gas primarily in west-central Alberta and northeastern B.C. Its output is 69% gas and 31% oil.
In the quarter ended September 30, 2016, Kelt’s cash flow per share was unchanged at $0.10, from a year earlier. Higher production offset slightly lower realized oil prices. Production rose 9.9%, to an average of 20,542 barrels of oil equivalent per day from 18,695 barrels.
Like many producers, the company continues to cut its exploration and development. In 2016, it plans to spend $69 million. That’s a drop from the $183 million it spent in 2015. Kelt spent $651 million in 2014.
The reduced investment, along with low oil and gas prices, will cut the company’s per-share cash flow to an estimated $0.33 for the current year. That’s down from the $0.36 it reported for 2015.
However, Kelt’s cash flow could rise to as high as $0.90…
Privacy Policy and Terms of Use
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