Kolibri Global Energy Inc. Announces Production Increase for the Second Quarter and Anticipates Significantly Higher Production From 9 New Wells in the Second Half of 2025

Executive Summary

• Kolibri Global Energy Inc. reported its financial results for the second quarter and first six months of 2025, highlighting a decrease in net income and Adjusted EBITDA compared to the prior year period, primarily driven by a significant drop in average oil and gas prices.
• Average production increased by 3% to 3,220 BOEPD in Q2 2025, despite temporary shut-ins of four Lovina wells during completion operations.
• The company announced plans to bring nine additional wells into production in the second half of 2025, including new drilling and completion activities, anticipating significant increases in production and cash flow.

Key Details

• Q2 2025 Financial Performance:
  • Net Income: $2.9 million ($0.08 EPS), down from $4.1 million ($0.11 EPS) in Q2 2024.
  • Adjusted EBITDA: $7.7 million, down 23% from $10.0 million in Q2 2024.
  • Revenue (net of royalties): $10.8 million, down 22% from $13.9 million in Q2 2024.
  • Average Netback from Operations: $29.66/boe, down 27% from $40.40/boe in Q2 2024.
• H1 2025 Financial Performance:
  • Net Income: $8.6 million ($0.24 EPS), up from $7.4 million ($0.21 EPS) in H1 2024.
  • Adjusted EBITDA: $20.5 million, essentially flat compared to $20.4 million in H1 2024.
  • Revenue (net of royalties): $27.2 million, down 3% from $28.1 million in H1 2024.
• Production Metrics (Q2 2025):
  • Average Production: 3,220 BOEPD (up 3% YoY).
  • Average Oil Production: 2,115 BOPD.
  • Average Natural Gas Production: 2,880 MCFD.
  • Average NGL Production: 625 BOEPD.
• Price Metrics (Q2 2025):
  • Average Oil Price: $47.06/bbl (down 24% YoY).
  • Average Natural Gas Price: $3.09/MCF (up 268% YoY).
  • Average NGL Price: $17.59/BOE.
• Operational Updates:
  • Production was partially offset by a 540 BOEPD reduction due to four Lovina wells being shut-in for completion operations.
  • Lovina wells started production in late July under controlled flowback, with average 4-day production ranging from 322 to 643 BOEPD.
  • The Ferguson 17-20-3H well started flowback operations; cleanup is expected to take longer due to shallower depth.
  • Drilling of the 1.5-mile lateral Barnes 6-31-2H and Barnes 6-31-3H wells is scheduled to begin, to be completed along with two previously drilled Velin wells.
  • Management anticipates bringing nine wells into production in H2 2025.
• Capital & Liquidity:
  • Capital Expenditures (Q2): $16.9 million (up 163% YoY).
  • Capital Expenditures (H1): $26.9 million (up 129% YoY).
  • Available Borrowing Capacity (as of June 30, 2025): $34.5 million.
  • Share Repurchases: Over 207,000 common shares repurchased under Normal Course Issuer Bid from April to July 2025 at an average price of $6.42/share.

Notable Quotes

• Wolf Regener, President and CEO: “We are pleased that the Company’s wells continued to perform well with average production of 3,220 boepd despite a 540 boepd reduction due to several wells that were temporarily shut-in during the quarter for the Lovina wells completion. The Company generated Adjusted EBITDA of $7.7 million during the quarter, despite average prices decreasing by 24% and several wells being temporarily shut-in.”
• Wolf Regener, President and CEO: “We are excited for the second half of the year as the Company will be bringing nine wells into production, which we anticipate will significantly increase production and cash flow during the last two quarters of 2025.”