Kolibri Global Energy announces another record for its highest quarterly revenue of $22.5 million with a 46% production increase and a 197% net income increase for the Q2 2026.
All amounts are in U.S. Dollars unless otherwise indicated:
SECOND QUARTER HIGHLIGHTS
- Revenue, net of royalties was $22.5 million in the second quarter of 2026 compared to $10.8 million for the second quarter of 2025, an increase of 109% due to a 46% increase in production and a 41% increase in average prices
- Average production for the second quarter of 2026 was 4,690 BOEPD, an increase of 46% compared to the second quarter of 2025 average production of 3,220 BOEPD. The increase was primarily due to production from the wells that were drilled and completed in the last half of 2025
- Net income in the second quarter of 2026 was $8.5 million and basic EPS was $0.24/share, compared to $2.9 million and basic EPS of $0.08/share in the second quarter of 2025. The 197% increase was due to higher revenues, partially offset by higher operating expense and depletion expense due to the higher production and realized losses on commodity contracts in 2026
- Adjusted EBITDA(1) was $16.4 million in the second quarter of 2026 compared to $7.7 million in the second quarter of 2025, an increase of 114% due to higher revenues partially offset by higher operating expenses and realized losses on commodity contracts in 2026
- Average netback from operations(2) for the second quarter of 2026 was $43.92/BOE, an increase of 48% from the prior year second quarter of $29.66/BOE due to higher average prices partially offset by higher operating costs per BOE
- Production and operating expense per barrel averaged $8.90 per BOE in the second quarter of 2026 compared to $7.15 per BOE in the second quarter of 2025, an increase of 24%. The increase was primarily due to workover costs on a non-operated well which was $0.59 per BOE in the second quarter of 2026. The increases were also due to temporary higher water hauling volumes from wells offsetting the wells that were fracked at the end of 2025 and thus resulted in higher water hauling costs compared to the prior year period
- At June 30, 2026, the Company had $30.5 million of available borrowing capacity on its credit agreement. In May 2026, the credit facility was redetermined and the borrowing capacity was increased from $65 million to $75 million
- Adjusted EBITDA is considered a non-GAAP measure. Refer to the section entitled “Non-GAAP Measures” of this earnings release.
- Netback from operations is considered a non-GAAP ratio. Refer to the section entitled “Non-GAAP Measures” of this earnings release.
Kolibri’s President and Chief Executive Officer, Wolf Regener commented:
'We are excited to announce another Company record for highest quarterly revenue of $22.5 million which was an increase of 109% compared to the prior year quarter. Continuing to execute the Company’s strategy of growing production by converting our reserves into producing wells resulted in a 46% production increase. We also benefited from an increase in average prices of 41% in the second quarter of 2026 compared to the prior year quarter. We generated Adjusted EBITDA(1) of $16.4 million which was a 114% increase from the prior year quarter.
'The Company has just completed drilling the last of the three Clifton Mack wells and expects to begin fracture stimulation operations this month with production expected during the end of the third quarter. As we previously disclosed, the geologic conditions in this area required additional casing strings, which increased the cost of these wells compared to our standard Caney well design. We believe the pressures we encountered are supportive of potential high production rates from these wells. The geologic conditions that were encountered in this southwest corner of our acreage position appear to be isolated to this area, and we anticipate using our normal Caney well design on future Caney wells.
'As we recently announced, we revised our strategy to target additional benches in our field while we continue to develop the lower Caney as we have in the past. We are excited to begin drilling the Lovina 8-5-1HF well, which will test the False Caney bench and will also be our first 2 mile lateral well. Successful results in these additional benches will have the potential to add many future drilling locations which would increase our reserves and thus value for our shareholders.'
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Source: Kolibri Global Energy
