Kelt Provides Update on Start-Up of Third-Party Gas Plant at Wembley

Executive Summary

• Kelt Exploration reports that the Albright Gas Plant has been commissioned and is now operating, with initial gas deliveries underway.
• The start‑up delay and recent shut‑in of dry gas are expected to reduce 2025 average production guidance by approximately 3%–5% versus the low end of prior guidance.
• Production at the Wembley/Pipestone division is projected to increase to a range of 23,000 – 25,000 BOE/d following the plant’s start‑up.

Key Details

• CSV Midstream Solutions Corp. finalized commissioning of the Albright Gas Plant and began receiving gas deliveries from Kelt.
• Kelt will monitor delivery rates and provide an updated 2025 production guidance when Q3 results are released on 2025-11-13.
• Prior low‑end forecast for 2025 average daily production was 42,000 BOE/d; the revised outlook reflects a 3%–5% reduction due to Albright start‑up delay and previously shut‑in gas.
• Approximately 60 MMcf/d of relatively dry gas were shut‑in for ~15 days but have been brought back on‑stream as AECO prices recovered (Nov contract ≈ $2.45/GJ; Dec contract ≈ $3.25/GJ).
• For the seven months ended July 31, 2025, Wembley/Pipestone average production was ≈14,300 BOE/d (55% oil & NGLs, 45% gas).
• Post‑start‑up, Kelt expects Wembley/Pipestone production to rise to a range of 23,000 – 25,000 BOE/d.

Notable Quotes

(No direct quotes were provided in the release.)