Forecast - Production | Capital Markets | Capital Expenditure | Drilling Program - Wells | Capex Decrease | Capital Expenditure - 2020 | 2020 Guidance
Kelt Dials Down 2020 Capex by $80MM (36%); Defers Several Projects
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Kelt Exploration Ltd. has reported changes to its 2020 capital plan.
Kelt has approved a 36% ($80 million) reduction in capital expenditures for 2020. The company now plans to spend $145.0 million (previously $225.0 million).
The reduction in Kelt’s capital spending plans for the remainder of 2020 includes the deferral of the following projects:
Drilling of an exploratory well at Oak/Flatrock; Completions of seven development wells at Oak/Flatrock; Construction of pipeline tie-ins, gas compression and an oil battery at Oak/Flatrock; Drilling of a well at Wembley/Pipestone; Completion of a well at Wembley/Pipestone; Construction of pipeline tie-ins at Wembley/Pipestone; and Drilling and completions of a five well pad at Fireweed.The revised capital expenditure program will begin…
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