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Kolibri Global Energy Inc. (KGEIF, KGEID) has announced its operational guidance for 2022, focusing on its Tishomingo field in Oklahoma. The company plans to drill three additional horizontal wells, following two already in production, with a total capital budget exceeding US$31 million. The projected operational outcomes include annual production of 1,700 to 1,900 BOEPD, revenue exceeding US$39 million, and adjusted funds flow of US$26 million. The company anticipates a debt-to-EBITDA ratio below 1.0 and year-end net debt between US$15 million and US$17 million, despite a 20% cost inflation for remaining wells.
Kolibri Global Energy Inc. (TSX: KEI, OTCQB: KGEIF) announced strong initial production from its Barnes 8-4H well in Oklahoma, averaging 605 BOEPD (515 BOPD) in the first 30 days. This performance exceeds both the Reserve Report IP30 and Management IP30 estimates by 56% and 28%, respectively. The well was delayed in optimization, but recent production rates reached 615 BOEPD. The company’s management estimates a 145% Internal Rate of Return at $100 per barrel oil price. This well’s production forecasts are similar to the successful Glenn 16-2H well.
Kolibri Global Energy Inc. (TSX: KEI, OTCQB: KGEID) announced a new $75 million revolving line of credit from BOK Financial, with an initial commitment of $20 million. This four-year facility allows interest-only payments until June 2026, enabling the company to support its drilling program. Currently, $16.2 million is drawn at an interest rate of 4.64%. The temporary ticker KGEID will revert to KGEIF after 20 business days. CEO Wolf Regener highlighted the importance of this credit for ongoing projects.
