Kelt the plan is happening, starting production ramp up
Dec 31, 2019 (Historically Speaking)
Kelt was trading for roughly $5 a share with 410 million in debt and producing 31,262 boe/day.
March 31, 2024 (Fast Forward)
Now let’s fast forward 4 years to the end of March 31, 2024, Kelt produced 32,910 boe/day for the Q1 2024, 34,000 boe/day for the month of march and ended the quarter with 32 million in net debt. 1600 boe/day production more than 2019, 380 million less debt, and the convertible debentures are all gone!
Just with respect to debt, Kelt is almost $2 dollars a share better off in terms of the balance sheet.
Going Forward (NOW)
However, the best is yet to come, every quarter for the next year will be associated with production increases.
Q2,Q1,Q3 8 more wells will be completed (2024) at OAK as well as the addition of 20 MMcf bringing the plant capacity up to at least 7,500 boe/day. 45 MMcf.
Q2 6.8 MMcf of gas production restored in Wembley
Q3 realize the impact of 6.8 MMcf of gas production.
Q3 September CVS Albright plant begins testing
Q3 Kelt continues on the completion of 3 well pads and 14 wells drilled in 2024 at Wembley/Pipestone, Kelt will be unloading some of the high liquids flush production in preparation for Plant startup.
Q4 CVS Albright Plant add 50 MMcf of production.
Q1 major reserve increase, significantly increases to 2025 capital budget, cashflow projection for 2025 way up, Kelt sets a new production record in Q1.
IMHO