Production / Operations
Kolibri Global Energy Inc. Provides Operations Update
KEI · Price
Executive Summary
- Kolibri Global Energy reports current field production of >6,000 BOEPD from its Tishomingo field in Oklahoma, driven by newly completed Barnes and Velin wells.
- The two 100% working‑interest Barnes wells are averaging ~465 BOEPD each (≈85% oil), with expectations of higher rates after tubing installation and additional frack‑fluid recovery in early 2026.
- Internal analysis of the four‑well Lovina pad indicates strong economics, projecting a 33% IRR at $60/barrel oil and 48% IRR at $70/barrel, despite lower gas/NGL recovery versus the IQRE reserve estimate.
Key Details
- Field Production: >6,000 BOEPD (includes offset wells shut‑in for fracture stimulations).
- Barnes Wells (100% WI):
- Barnes 6‑31‑2H & Barnes 6‑4H averaging ~465 BOEPD each (≈395 BOPD).
- Oil share ≈85%; lateral lengths 1.5 mi and 1 mi respectively.
- Anticipated production uplift after tubing strings are run in early 2026 and further frack‑fluid recovery.
- Velin Wells (97% WI):
- Two 1‑mile laterals averaging ~200 BOEPD total (≈145 BOPD).
- Early rates lower than expected due to extended shut‑in for Barnes completion; tubing being run to improve flow.
- Lovina Pad (4 wells, mixed WI):
- Demonstrated lower decline rates vs. historic wells.
- Internal IRR estimates: 33% at $60 /boe oil, 48% at $70 /boe oil (based on four months of actual data).
- Forecasted ultimate oil recovery aligns with IQRE’s December 2024 reserve report; gas and NGL recoveries are lower than IQRE estimates.
- Reserve Comparison (Internal vs. IQRE):
| Component | Internal Estimate (Mbbl) | IQRE Average (Mbbl) | Difference |
|---|---|---|---|
| Oil | 2,086 | 2,039 | +47 |
| Gas | 2,229 | 2,628 | –399 |
| NGL | 326 | 643 | –317 |
| Boe | 2,784 | 3,120 | –336 |
- Management Commentary (Wolf Regener, President & CEO):
- “Overall, I’m very pleased with how well the field continues to perform… high oil percentages are helping improve netbacks.”
- Emphasized confidence in lower decline rates and strong IRR forecasts for Lovina wells; optimistic about Barnes and Velin performance improvements.
Notable Quotes
- Wolf E. Regener: “The early production profile of the Lovina wells was different than many of our previous wells, and we are glad to see them achieving the lower decline rates… The early production data from the Barnes wells is very similar… we are hopeful that those wells will have similar results.”
All forward‑looking statements are subject to risks and uncertainties detailed in the release.
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Jun 29, 2026 · 06:45