9,000 to 12,000 BOE per day of shut-in productionKelt’s average production for the three months ended September 30, 2024, was 32,378 BOE per day, up 15% from average production of 28,179 BOE per day during the corresponding period in 2023 and up 5% from average production of 30,693 BOE per day during the second quarter of 2024.
Kelt now expects to exit 2024 with production in the 36,000 to 38,000 BOE per day range.
With commencement of Albright operations, Kelt expects to exit the first quarter of 2025 with production in the 45,000 to 50,000 BOE per day range.
54% production increase with the startup of the CVS Albright gas plant. (50,000 boe)
With 50,000 boe/day Kelt will get rerated, and it is also expecting to bring on another 25 MMcf of gas processing Mid 2025.
On December 31, 2024, the Company expects to have net debt of $117.0 million, or 0.5 times forecasted AFFO for 2024. (very low based on a trailing bases, essentially once they start producing 50,000 boe a day it wll be about .3 times forward AFFO in 2025)
Kelt has a quarter where a number of things were simply out of their control. The startup of the gas plant is a game changing event that will result in the bringing on APPROXIMATELY 12,000 boe of production.
Hang on tight.
IMHO