Kelt Exploration Profile
Kelt Exploration Ltd., an oil and gas company, engages in the exploration, development, and production of crude oil and natural gas resources primarily in northwestern Alberta and northeastern British Columbia, Canada.
The company’s land holdings are located in four operating divisions, namely: Pouce Coupe/Progress, Alberta -Kelt’s Alberta development division; Wembley/Pipestone, Alberta – Kelt’s Alberta exploration division; Inga/Fireweed, British Columbia – Kelt’s B.C. development division; and Oak/Flatrock, British Columbia – Kelt’s B.C. exploration division.
Oil and Gas Properties
Pouce Coupe/Progress
As of March 6, 2020, the company had interests in 158,348 gross (97,315 net) acres of land in this area which is located approximately 70 kilometres north of Grande Prairie, Alberta. At Pouce Coupe/Progress, the company has a 20.256% working interest in the 140 MMcf/d Progress gas plant located at 1-1-078-10W6M and a 100% working interest in a compression facility located at 6-33-77-11-W6M. At Pouce/Progress, the company has targeted several different geologic formations including Montney light oil, Montney and Doig natural gas and Charlie Lake and Halfway light oil.
Wembley/Pipestone
As at March 6, 2020, the company had interests in 142,560 gross (122,254 net) acres of land in this area which is located approximately 10 kilometres north of Grande Prairie, Alberta. At Wembley/Pipestone, the company has an oil battery at 01-14-072-08W6M with a capacity of 3,500 bbl/d of oil and 20 MMcf/d of natural gas. The company’s natural gas production is processed at third party facilities, including 30 MMcf/d of processing capacity at a deep cut gas processing plant at Pipestone that was completed in September 2019. The third-party gas plant at Pipestone provides the Corporation with processing capacity for the 13 Montney wells it had drilled in Wembley/Pipestone over the past two years.
Inga/Fireweed
As at March 6, 2020, the company had interests in 240,262 gross (230,730 net) acres of land in this area which is centered approximately 60 kilometres north west of Fort St. John, British Columbia. At Inga, the company has a 100% working interest in a 100 MMcf/d gas, dehydration and compressor facility located at 2-10-88-23 W6. At Fireweed, the company has a 100% working interest in a 16 MMcf/d compressor station located at A-16-A/094-A-13. At Inga/Fireweed, the Corporation is developing condensate rich natural gas in the Montney and Doig formations. In 2019, the company drilled and completed 18 wells on a 24 well development pad with the remaining 6 wells to be completed in 2020.
Oak/Flatrock
As at March 6, 2020, the company had interests in 207,567 gross (206,295 net) acres of land in this area which is located approximately 30 kilometres north east of Fort St. John, British Columbia. Oak/Flatrock is an exploration area for Kelt and as of December 31, 2019, the company has 5 completed Montney wells in the area. At Oak/Flatrock, the company is targeting light oil and condensate rich natural gas in the Montney formation. The company has planned several exploration and delineation wells for Oak in 2020.
