Kolibri Global Energy Inc. Announces Highest Quarterly Net Revenue in Company History of $19.6 Million and a 15% Increase in Average Production

The most recent news, dated May 14, 2026, reports Kolibri's Q1 2026 financial results. The company achieved record quarterly net revenue of $19.6 million, a 20% year-over-year increase, driven by a 15% rise in average production to 4,685 BOEPD. Adjusted EBITDA rose 16% to $14.82 million. However, net income fell 31% to $4.0 million ($0.11 per share) due to a $2.9 million unrealized mark-to-market loss on commodity contracts as oil prices rose. The company is currently drilling three 1.5-mile lateral wells (Clifton Mack 11-14 series) with production expected in Q3 2026. This follows a May 11 announcement of an increased credit facility borrowing base to $75 million and an expected $4 million debt paydown. The April 13 news provided 2026 base case guidance at $74/barrel oil, projecting 4,400–4,800 BOEPD, $74–$79 million revenue, and $55–$60 million adjusted EBITDA, with year-end net debt of $25–$30 million.

The Q1 2026 results are positive but largely confirm the trajectory established in prior announcements. Record revenue and production were signaled by the April 13 guidance and the March 19 year-end results, which noted production had exited 2025 at over 5,600 BOE/day. The production average of 4,685 BOEPD falls within the guided range. The net income miss is attributable to non-cash mark-to-market losses on hedges—a paper loss that could reverse—and does not reflect operational deterioration. The increase in the credit facility and debt paydown plan were pre-announced on May 11. No genuinely new, unexpected market-moving information is presented. The results confirm execution is on track but introduce no material upside surprise relative to the April forecast. The stock traded at $7.42 on May 12, rose to $7.38 on May 11 after the credit facility news, and sat at $7.23 on May 13 before the May 14 earnings release, suggesting the market had already priced in positive operational momentum. The news is positive but expected.

Kolibri Global Energy is an oil and gas exploration and production company focused on the Tishomingo field in Oklahoma. The flagship project is the development of Caney formation wells, with additional Woodford and Sycamore wells at lower working interests. As of year-end 2025, total proved reserves were 40.8 MMBOE (NPV10 of $440.7 million), with proved plus probable plus possible reserves of 71.9 MMBOE. The company holds approximately 17,696 net acres with planned well spacing of 107–213 acres (~6 wells per section). Reserves are derived from 45 Caney wells, 4 Woodford wells, and 1 Sycamore well. The 2025 drilling program included Lovina, Barnes, Velin, and Forguson wells, with Lovina wells showing lower decline rates and strong IRRs (33% at $60 oil, 48% at $70). The 2026 program is currently drilling three Clifton Mack wells with 67% working interest.