Kelt’s 2015 year-end 2P reserves grew 52% on an absolute basis or 13% on a per share basis year-over-year, driven by the Company’s acquisition of Artek Exploration in early 2015. While FD&A costs were up slightly from 2014 levels, weak commodity prices in 2015 and a higher ratio of capital outlays for land and infrastructure led to reduced cash flow recycle ratios, which we view as anomalous in a long term view of the Company. Management is moving to a lower capex program in 2016e of $65 mm on a ....
11 Feb 2016
Kelt Exploration Ltd. (KEL) Reports 2015 Year-End Reserves, Revised 2016 Guidance
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Kelt Exploration Ltd. (KEL) Reports 2015 Year-End Reserves, Revised 2016 Guidance
Kelt Exploration Ltd. (KEL:TSE) | 0 0 -0.4% | Mkt Cap: 1,279m
- Published:
11 Feb 2016 -
Author:
Robert Fitzmartyn -
Pages:
9
Kelt’s 2015 year-end 2P reserves grew 52% on an absolute basis or 13% on a per share basis year-over-year, driven by the Company’s acquisition of Artek Exploration in early 2015. While FD&A costs were up slightly from 2014 levels, weak commodity prices in 2015 and a higher ratio of capital outlays for land and infrastructure led to reduced cash flow recycle ratios, which we view as anomalous in a long term view of the Company. Management is moving to a lower capex program in 2016e of $65 mm on a ....