Kelt Exploration (TSE:KEL) has released an update.
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Kelt Exploration Ltd. is delaying the activation of new gas wells until the fourth quarter of 2024, expecting to close out the year with daily production between 45,000 to 50,000 barrels of oil equivalent. The deferral is due to weak current natural gas prices resulting from high storage inventories in North America. Meanwhile, the company is advancing its drilling programs across various divisions, with new wells coming on stream towards the end of the year following the completion of a new gas plant.
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