Core Viewpoint - Kolibri Global Energy Inc. has revised its 2025 operational guidance downward due to lower oil prices and delays in well production, but still anticipates significant growth in production, revenue, and Adjusted EBITDA compared to 2024 [2][3][6] Guidance Update - The average production, revenue, and Adjusted EBITDA guidance for 2025 has been adjusted lower from previous forecasts due to lower than expected oil prices, which averaged less than $70 per barrel [2] - The company expects annual capital expenditures to be between $55 million and $58 million, higher than originally forecasted due to redrilling and cost increases [3] - Net debt is projected to be between $46 million and $48 million, also higher than previously estimated, primarily due to the timing of well production [3] - Cash flow from production, including from the new wells, is expected to facilitate debt paydowns of $8 million to $10 million in the first quarter of 2026 [3] Operations Update - The Barnes 6-31-2H well was successfully drilled under budget, and completion operations will commence once the redrill of the Barnes 6-31-3H well is completed [4] - The four Lovina wells completed earlier this year are producing at a higher oil rate of 80% and are declining at lower rates compared to other wells [4][7] - The Forguson 17-20-3H well is showing a 21% increase in production since the last update, currently averaging about 195 barrels of oil equivalent per day [5] Management Commentary - The President and CEO expressed disappointment over the drilling program's delay due to a single component failure but noted that it will not affect the ultimate productivity of the wells [6] - The company anticipates that the new wells will begin production in December, significantly impacting production in the first quarter of 2026 [6] - The Lovina wells are expected to yield higher netbacks due to their higher oil rates [7]
Kolibri Global Energy Inc. Provides Guidance and Corporate Update