Kolibri Global Energy Announces Year End Results With a 15% Increase in Production to Over 4,013 BOEPD

Executive Summary

• Kolibri Global Energy reported 2025 average production of 4,013 BOEPD (‑15% vs. 2024), with net revenues of $56.9 M (‑3%) and adjusted EBITDA of $42.1 M (‑4%).
• Net income fell to $15.5 M ($0.44/share) from $18.1 M ($0.51/share) in 2024, driven by lower oil prices, higher depletion expense, and increased operating costs.
• Capital expenditures surged to $62.6 M in 2025 (‑100% vs. 2024), reflecting a larger drilling program and redrill costs from a drill‑pipe failure.

Key Details

• Production
• Average 2025 production: 4,013 BOEPD (+15% YoY) – driven by wells drilled in 2025.

• Q4 2025 average production: 4,493 BOEPD (+1% YoY).

• Financial Performance

• Net revenues 2025: $56.9 M (‑3% YoY).
• Adjusted EBITDA 2025: $42.1 M (‑4% YoY).
• Net income 2025: $15.5 M ($0.44/share) vs. $18.1 M ($0.51/share) in 2024 (‑15%).

• Netback from operations fell to $31.49/BOE (‑18% YoY).

• Operating Metrics

• Production & operating expense per BOE: $7.33 in 2025 vs. $7.44 in 2024 (‑1%).
• Depletion & depreciation expense increased $1.1 M due to higher production and PP&E balance.

• G&A expenses rose $0.1 M (‑3% ex‑special meeting costs).

• Capital Expenditures

• Total 2025 capex: $62.6 M vs. $31.3 M in 2024 (+100%).

• Drivers: four additional wells drilled, two fracture‑stimulated wells, redrill costs from drill‑pipe failure, and severe weather impacts.

• Reserves

• Proved reserves increased 1% to 40.8 MMBOE (NPV10 = $440.7 M).

• Quarterly Highlights (Q4 2025)

• Net revenues: $14.7 M (‑15% YoY).
• Adjusted EBITDA: $10.5 M (‑22% YoY).
• Net income: $3.3 M ($0.09/share) vs. $5.6 M ($0.16/share) in Q4 2024.

• Capital expenditures Q4: $18.4 M vs. $9.7 M in Q4 2024.

• Liquidity

• Cash & cash equivalents end‑2025: $2.8 M (down from $4.3 M).

• Borrowing capacity: $15.5 M at year‑end 2025 vs. $16.5 M in 2024.

• Outlook

• CEO Wolf Regener indicated that four wells coming online in December will boost production to >5,600 BOE/day in 2026.
• A 2026 drilling program is being finalized with an expected start in June; capital expenditures are projected to be “significantly lower” than 2025 levels.

Notable Quotes

• Wolf E. Regener, President & CEO:

  “We are pleased with the continued production growth… The four wells that started production at the end of the year increased our December production to over 5,600 BOE per day. The production and cash flow impact of these wells will now be reflected primarily in our 2026 results.”

• Wolf E. Regener:

  “We look forward to continuing our success with our 2026 drilling program… we expect our capital expenditures to be significantly lower than 2025 levels.”