Latest news with #Lovina
National Post
2 days ago
- Business
- National Post
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
Article content THOUSAND OAKS, Calif. — All amounts are in U.S. Dollars unless otherwise indicated: Article content Article content Average production for the second quarter of 2025 was 3,220 BOEPD, an increase of 3% compared to the second quarter of 2024 average production of 3,128 BOEPD. The increase was due to production from the wells that were drilled and completed in the last half of 2024, partially offset by decreased production from wells that were shut-in during the completion operations for the four Lovina wells, which temporarily reduced quarter production by 540 boepd The Company has repurchased over 207,000 common shares under its Normal Course Issuer Bid from April to July 2025 for an average price of US$6.42/share, bringing its total repurchases to over 504,000 shares since September 2024 Production and operating expense per barrel averaged $7.15 per BOE in the second quarter of 2025 compared to $8.48 per BOE in the second quarter of 2024, a decrease of 16%. The decrease was due to lower water hauling costs and natural gas and NGL processing costs adjustments in 2024 related to prior years as the purchaser reassessed prior year gathering and processing costs General & Administrative (G&A) expense decreased by 9% primarily due to lower accounting fees compared to the prior year quarter, due to the listing on the NASDAQ stock market at the end of 2023 Net income in the second quarter of 2025 was $2.9 million and EPS was $0.08/share compared to $4.1 million and EPS of $0.11/share in the second quarter of 2024. The decrease was due to lower revenues Adjusted EBITDA (1) was $7.7 million in the second quarter of 2025 compared to $10.0 million in the second quarter of 2024, a decrease of 23% due to a 24% decrease in average prices Revenue, net of royalties was $10.8 million in the second quarter of 2025 compared to $13.9 million for second quarter of 2024, a decrease of 22% due to lower prices and lower oil production due to the shut-in wells Average netback from operations (2) for the second quarter of 2025 was $29.66/boe, a decrease of 27% from the prior year second quarter due to lower average prices partially offset by lower operating costs per BOE At June 30, 2025, the Company had $34.5 million of available borrowing capacity on its credit agreement Management will host an earnings conference call for investors this morning at 9:00 a.m. Pacific time to discuss the Company's results and host a Q&A session. Interested parties are invited to participate by calling: 1-877-317-6789 or for international callers: 1-412-317-6789. Please request to be joined to the Kolibri Global Energy Inc. call Article content Kolibri's President and Chief Executive Officer, Wolf Regener commented: Article content '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. All of the shut-in wells are now back online, some of which, as expected, are being dewatered. Article content 'As we announced last week, the Lovina wells started production in late July under a controlled flowback with the average 4-day production from the four wells ranging from 322 boepd to 643 boepd, while still cleaning up from the fracture stimulations. The wells are producing a higher percentage of oil than many of our previous wells, and we are running production tubing strings this week, which could lead to higher production based on our past experience. The Forguson 17-20-3H well has just started flowback operations. Cleanup of the fracture stimulation fluid is anticipated to take longer to get stabilized flow rates than the wells in the heart of our field, since it is shallower. The Company will start drilling the 1.5 mile lateral Barnes 6-31-2H and Barnes 6-31-3H wells this week, which will then be completed along with the two previously drilled Velin wells. 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.' Article content Second Quarter First Six Months 2025 2024 % 2025 2024 % Net Income $ 2,853 $ 4,061 (30)% $ 8,618 $ 7,406 16% Net income per basic common share $ 0.08 $ 0.11 (27)% $ 0.24 $ 0.21 14% Net Income per diluted common share $ 0.08 $ 0.11 (27)% $ 0.24 $ 0.20 20% Capital Expenditures $ 16,898 $ 6,427 163% $ 26,851 $ 11,747 129% Adjusted EBITDA $ 7,681 $ 10,036 (23)% $ 20,501 $ 20,410 – % Average Production (Boepd) 3,220 3,128 3% 3,646 3,216 13% Average Price per Barrel $ 47.06 $ 62.10 (24)% $ 52.75 $ 61.37 (14)% Average Netback from operations (2) per Barrel $ 29.66 $ 40.40 (27)% $ 34.05 $ 39.66 (14)% Average Netback including commodity contracts (2) per Barrel $ 29.79 $ 39.56 (25)% $ 34.11 $ 38.67 (12)% June 30, 2025 March 31, 2025 December 31, 2024 Cash and Cash Equivalents 3,132 4,878 4,314 Working Capital (12,911 ) (5,653 ) (657 ) Borrowing Capacity 34,542 22,542 16,542 Article content (1) Adjusted EBITDA is considered a non-GAAP measure. Refer to the section entitled 'Non-GAAP Measures' of this earnings release. (2) Netback from operations and netback including commodity contracts are considered non-GAAP ratios. Refer to the section entitled 'Non-GAAP Measures' of this earnings release. Article content Second Quarter 2025 versus Second Quarter 2024 Article content Oil and gas gross revenues totaled $13.8 million in the quarter versus $17.7 million in the second quarter of 2024, a decrease of 22%. Oil revenues decreased $4.7 million or 28% as average oil prices decreased by $17.23 per barrel or 22% and oil production was down by 8% due to the shut-in wells during the quarter. Natural gas revenues increased $0.7 million or 450% to $0.8 million as average natural gas prices increased by $2.25/mcf or 268% to $3.09/mcf and natural gas production increased by 50% to 2,880 mcfpd. Natural gas liquids (NGLs) revenues increased $0.2 million or 21% as NGL production increased 25% to 625 boepd partially offset by a 4% decrease in average NGL prices to $17.59/boe. Article content Average production for the second quarter of 2025 was 3,220 BOEPD, an increase of 3% compared to the second quarter of 2024 average production of 3,128 BOEPD due to production from the wells that were drilled in the last six months of 2024 partially offset by decreased production from wells that were shut-in during the completion operations for the four Lovina wells. Article content Production and operating expenses for the second quarter of 2025 were $1.7 million compared to $2.1 million in the prior year comparable period. The decrease was primarily due to higher water hauling costs in the prior year quarter and natural gas and NGL processing costs recorded in the second quarter of 2024 related to prior years as the purchaser reassessed prior year gathering and processing costs. Article content General and administrative expenses for the second quarter of 2025 was $1.4 million compared to $1.5 million for the second quarter of 2024, a decrease of 9%. The decrease was due to higher accounting fees in the prior year quarter due to the listing on the NASDAQ stock market at the end of 2023. Article content Finance expense decreased $0.4 million in the second quarter of 2025 compared to the prior year second quarter due to lower interest expense as a result of lower interest rates and an decrease in the outstanding bank loan balance in 2025. Article content FIRST SIX MONTHS 2025 HIGHLIGHTS Article content Average production for the first six months of 2025 was 3,646 BOEPD, an increase of 13% compared to the first six months of 2024 average production of 3,216 BOEPD. The increase is due to production from the wells that were drilled and completed in the last six months of 2024 Net income in the first six months of 2025 was $8.6 million and EPS was $0.24/share compared to $7.4 million and EPS of $0.21/share in the first six months of 2024. The increase was due to realized and unrealized gains on commodity contracts in 2025 versus losses in 2024 and a decrease in operating and interest expense partially offset by lower revenues Adjusted EBITDA (1) was $20.5 million in the first six months of 2025 compared to $20.4 million in the first six months of 2024, as a decrease in revenue for the first six months of 2025 was offset by lower operating expenses and a realized loss on commodity contracts in the prior year period. Production and operating expense per barrel averaged $7.11 per BOE in the first six months of 2025 compared to $8.42 per BOE in the first six months of 2024, a decrease of 16%. The decrease was due to lower water hauling costs and due to natural gas and NGL processing costs adjustments in 2024 related to prior years as the purchaser reassessed prior year gathering and processing costs Revenue, net of royalties was $27.2 million in the first six months of 2025 compared to $28.1 million for first six months of 2024, a decrease of 3%, due to a 14% decrease in average prices partially offset by a 13% increase in production Average netback from operations (2) for the first six months of 2025 was $34.05/boe, a decrease of 14% from the prior year period due to lower average prices Article content (1) Adjusted EBITDA is considered a non-GAAP measure. Refer to the section entitled 'Non-GAAP Measures' of this earnings release. (2) Netback from operations and netback including commodity contracts are considered non-GAAP ratios. Refer to the section entitled 'Non-GAAP Measures' of this earnings release. Article content First Six Months of 2025 versus First Six Months of 2024 Article content Oil and gas gross revenues totaled $34.8 million in the first six months of 2025 versus $35.9 million in the first six months of 2024, a decrease of 3%. Oil revenues decreased $3.2 million or 10% as average oil prices decreased by $10.24 per barrel or 13% which was partially offset by a 5% increase in oil production to 2,477 boepd. Natural gas revenues increased $1.5 million or 259% to $2.1 million as average natural gas prices increased by $2.00/mcf or 132% to $3.52/mcf and natural gas production increased by 56% to 3,339 mcfpd. Natural gas liquids (NGLs) revenues increased $0.6 million or 28% as NGL production increased by 24% to 612 boepd and average NGL prices increased 3% to $23.95/boe. Article content Average production for the first six months of 2025 was 3,646 BOEPD, an increase of 13% compared to the first six months 2024 average production of 3,216 BOEPD. The increases are due to production from the wells that were drilled and completed in the last six months of 2024. Article content Production and operating expense was $3.9 million in the first six months of 2025 compared to $4.4 million for the same period of 2024, a decrease of 9%. The decrease was primarily due to higher water hauling costs in the prior year period and natural gas and NGL processing costs recorded in the second quarter of 2024 related to prior years, as the purchaser reassessed prior year gathering and processing costs. Article content Finance income increased by $0.5 million for the first six months of 2025 due to realized and unrealized gains on commodity contracts in 2025. Article content Finance expense decreased $1.4 million in the first six months of 2025 compared to the prior year comparable period due to realized and unrealized losses on commodity contracts in 2024 and lower interest expense as a result of lower interest rates and a decrease in the outstanding bank loan balance in 2025. Article content June 30 December 31 2025 2024 Current Assets Cash and cash equivalents $ 3,132 $ 4,314 Accounts receivables and other receivables 3,660 9,733 Deposits and prepaid expenses 646 718 Fair value of commodity contracts 825 254 8,263 15,019 Non-current assets Property, plant and equipment 253,223 232,962 Right of use assets 1,331 748 Fair value of commodity contracts – 30 254,554 233,740 Total Assets $ 262,817 $ 248,759 Current Liabilities Accounts payable and other payables $ 20,099 $ 15,090 Lease liabilities 1,075 586 21,174 15,676 Non-current liabilities Loans and borrowings 29,702 33,240 Asset retirement obligations 2,414 2,168 Lease liabilities 294 167 Deferred taxes 10,755 8,701 Fair value of commodity contracts 85 – 43,250 44,276 Equity Shareholders' capital 295,490 295,309 Treasury stock (234 ) – Contributed surplus 26,401 25,380 Accumulated deficit (123,264 ) (131,882 ) Total Equity 198,393 188,807 Total Equity and Liabilities $ 262,817 $ 248,759 Article content KOLIBRI GLOBAL ENERGY INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited, expressed in Thousands of United States dollars, except per share amounts) ($000 except as noted) Second Quarter First Six Months 2025 2024 2025 2024 Oil and natural gas revenue, net $ 10,788 $ 13,915 $ 27,160 $ 28,141 Other income 325 1 326 60 11,113 13,916 27,486 28,201 Production and operating expenses 1,738 2,109 3,965 4,355 Depletion and depreciation expense 3,516 3,700 7,579 7,594 General and administrative expenses 1,409 1,528 2,734 2,793 Stock based compensation 488 411 725 539 7,151 7,748 15,003 15,281 Finance income 540 445 512 – Finance expense (713 ) (1,101 ) (1,460 ) (2,872 ) Income tax expense (936 ) (1,451 ) (2,917 ) (2,642 ) Net income 2,853 4,061 8,618 7,406 Basic net income per share $ 0.08 $ 0.11 $ 0.24 $ 0.21 Diluted net income per share $ 0.08 $ 0.11 $ 0.24 $ 0.20 Article content KOLIBRI GLOBAL ENERGY SECOND QUARTER 2025 (Unaudited, expressed in Thousands of United States dollars, except as noted) Second Quarter First Six Months 2025 2024 2025 2024 Oil gross revenue $ 11,978 $ 16,701 $ 30,028 $ 33,249 Gas gross revenue 809 147 2,127 592 NGL gross revenue 1,001 830 2,655 2,081 Oil and Gas gross revenue 13,790 17,678 34,810 35,922 Adjusted EBITDA (1) 7,681 10,036 20,501 20,410 Capital expenditures 16,898 6,427 26,851 11,747 Statistics: Second Quarter First Six Months 2025 2024 2025 2024 Average oil production (Bopd) 2,115 2,309 2,477 2,366 Average natural gas production (mcf/d) 2,880 1,916 3,339 2,143 Average NGL production (Boepd) 625 500 612 493 Average production (Boepd) 3,220 3,128 3,646 3,216 Average oil price ($/bbl) $ 62.45 $ 79.48 $ 66.96 $ 77.20 Average natural gas price ($/mcf) $ 3.09 $ 0.84 $ 3.52 $ 1.52 Average NGL price ($/bbl) $ 17.59 $ 15.97 $ 23.95 $ 23.18 Average price ($/boe) $ 47.6 $ 62.10 $ 52.75 $ 61.37 Less: Royalties ($/boe) 10.25 13.22 11.59 13.29 Less: Operating expenses $/boe) 7.15 8.48 7.11 8.42 Netback from operations (2) ($/boe) $ 29.66 $ 40.40 $ 34.05 $ 39.66 Price adjustment from commodity contracts ($/boe) 0.13 (0.84 ) 0.06 (0.99 ) Netback including commodity contracts (2) ($/boe) $ 29.79 $ 39.56 $ 34.11 $ 38.67 Article content (1) Adjusted EBITDA is considered a non-GAAP measure. Refer to the section entitled 'Non-GAAP Measures' of this earnings release. (2) Netback from operations and netback including commodity contracts are considered non-GAAP ratios. Refer to the section entitled 'Non-GAAP Measures' of this earnings release. Article content The information outlined above is extracted from and should be read in conjunction with the Company's unaudited financial statements for the three and six months ended June 30, 2025 and the related management's discussion and analysis thereof, copies of which are available under the Company's profile at Article content NON-GAAP MEASURES Article content Netback from operations, netback including commodity contracts and adjusted EBITDA (collectively, the ' Company's Non-GAAP Measures ') are not measures or ratios recognized under Canadian generally accepted accounting principles (' GAAP ') and do not have any standardized meanings prescribed by IFRS. Management of the Company believes that such measures and ratios are relevant for evaluating returns on each of the Company's projects as well as the performance of the enterprise as a whole. The Company's Non-GAAP Measures may differ from similar computations as reported by other similar organizations and, accordingly, may not be comparable to similar non-GAAP measures and ratios as reported by such organizations. The Company's Non-GAAP Measures should not be construed as alternatives to net income, cash flows related to operating activities, working capital or other financial measures and ratios determined in accordance with IFRS, as an indicator of the Company's performance. Article content An explanation of the composition of the Company's Non-GAAP Measures, how the Company's Non-GAAP Measures provide useful information to an investor and the purposes for which the Company's management uses the Non-GAAP Measures is set out in the management's discussion and analysis under the heading 'Non-GAAP Measures' which is available under the Company's profile at and is incorporated by reference into this earnings release. Article content The following is the reconciliation of the non-GAAP ratio netback from operations to net income, which the Company considers to be the most directly comparable financial measure that is disclosed in the Company's financial statements: Article content (US $000) Three months ended June 30, Six months ended June 30, 2025 2024 2025 2024 Net income 2,853 4,061 8,618 7,406 Adjustments: Income tax expense 936 1,451 2,917 2,642 Finance income (540 ) (445 ) (512 ) – Finance expense 713 1,101 1,460 2,872 Share based compensation 488 411 725 539 General and administrative expenses 1,409 1,528 2,734 2,793 Depletion, depreciation and amortization 3,516 3,700 7,579 7,594 Other income (325 ) (1 ) (326 ) (60 ) Operating netback 9,050 11,806 23,195 23,786 Netback from operations per BOE 29.66 40.40 34.05 39.66 Article content The following is the reconciliation of the non-GAAP measure adjusted EBITDA to the comparable financial measures disclosed in the Company's financial statements: Article content (US $000) Three months ended June 30, Six months ended June 30, 2025 2024 2025 2024 Net income 2,853 4,061 8,618 7,406 Income tax expense 936 1,451 2,917 2,642 Depletion and depreciation 3,516 3,700 7,579 7,594 Accretion 73 44 124 89 Interest expense 640 813 1,336 1,728 Unrealized (gain) loss on commodity contracts (490 ) (445 ) (455 ) 470 Share based compensation 488 411 725 539 Interest income (8 ) – (16 ) – Other income (325 ) (1 ) (326 ) (60 ) Foreign currency loss (gain) (2 ) 2 (1 ) 2 Adjusted EBITDA 7,681 10,036 20,501 20,410 Article content PRODUCT TYPE DISCLOSURE Article content This news release includes references to sales volumes of 'oil', 'natural gas', and 'barrels of oil equivalent' or 'BOEs'. 'Oil' refers to light crude oil and medium crude oil combined, and 'natural gas' refers to shale gas, in each case as defined by NI 51-101. Production from our wells, primarily disclosed in this news release in BOEs, consists of mainly oil and associated wet gas. The wet gas is delivered via gathering system and then pipelines to processing plants where it is treated and sold as natural gas and NGLs. Article content CAUTIONARY STATEMENTS Article content (a) The Company's natural gas production is reported in thousands of cubic feet (' Mcfs '). The Company also uses references to barrels (' Bbls ') and barrels of oil equivalent (' Boes ') to reflect natural gas liquids and oil production and sales. Boes may be misleading, particularly if used in isolation. A Boe conversion ratio of 6 Mcf:1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value. (b) Discounted and undiscounted net present value of future net revenues attributable to reserves do not represent fair market value. (c) Possible reserves are those additional reserves that are less certain to be recovered than probable reserves. There is a 10% probability that the quantities actually recovered will equal or exceed the sum of proved plus probable plus possible reserves. (d) The Company discloses peak and 30-day initial production rates and other short-term production rates. Readers are cautioned that such production rates are preliminary in nature and are not necessarily indicative of long-term performance or of ultimate recovery. Article content Caution Regarding Forward-Looking Information Article content This release contains forward-looking information including information regarding the proposed timing and expected results of exploratory and development work including production from the Company's Tishomingo field, Oklahoma acreage, projected increases in production and cash flow, adjusted EBITDA and net debt, the Company's reserves based loan facility, including scheduled repayments, expected hedging levels and the Company's strategy and objectives. The use of any of the words 'target', 'plans', 'anticipate', 'continue', 'estimate', 'expect', 'may', 'will', 'project', 'should', 'believe' and similar expressions are intended to identify forward-looking statements. Article content Such forward-looking information is based on management's expectations and assumptions, including that the Company's geologic and reservoir models and analysis will be validated, that indications of early results are reasonably accurate predictors of the prospectiveness of the shale intervals, that previous exploration results are indicative of future results and success, that expected production from future wells can be achieved as modeled, that declines will match the modeling, that future well production rates will be improved over existing wells, that rates of return as modeled can be achieved, that recoveries are consistent with management's expectations, that additional wells are actually drilled and completed, that design and performance improvements will reduce development time and expense and improve productivity, that discoveries will prove to be economic, that anticipated results and estimated costs will be consistent with management's expectations, that all required permits and approvals and the necessary labor and equipment will be obtained, provided or available, as applicable, on terms that are acceptable to the Company, when required, that no unforeseen delays, unexpected geological or other effects, equipment failures, permitting delays or labor or contract disputes are encountered, that the development plans of the Company and its co-venturers will not change, that the demand for oil and gas will be sustained or increase, that the Company will continue to be able to access sufficient capital through financings, credit facilities, farm-ins or other participation arrangements to maintain its projects, that the Company will continue in compliance with the covenants under its reserves-based loan facility and that the borrowing base will not be reduced, that funds will be available from the Company's reserves based loan facility when required to fund planned operations, that the Company will not be adversely affected by changing government policies and regulations, social instability or other political, economic or diplomatic developments in the countries in which it operates and that global economic conditions will not deteriorate in a manner that has an adverse impact on the Company's business and its ability to advance its business strategy. Article content Forward-looking information involves significant known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to: the risk that any of the assumptions on which such forward-looking information is based vary or prove to be invalid, including that the Company's geologic and reservoir models or analysis are not validated, that anticipated results and estimated costs will not be consistent with management's expectations, the risks associated with the oil and gas industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration and development projects or capital expenditures; the uncertainty of reserve and resource estimates and projections relating to production, costs and expenses, and health, safety and environmental risks including flooding and extended interruptions due to inclement or hazardous weather), the risk of commodity price and foreign exchange rate fluctuations, risks and uncertainties associated with securing the necessary regulatory approvals and financing to proceed with continued development of the Tishomingo Field, the risk that the Company or its subsidiaries is not able for any reason to obtain and provide the information necessary to secure required approvals or that required regulatory approvals are otherwise not available when required, that unexpected geological results are encountered, that completion techniques require further optimization, that production rates do not match the Company's assumptions, that very low or no production rates are achieved, that the Company will cease to be in compliance with the covenants under its reserves-based loan facility and be required to repay outstanding amounts or that the borrowing base will be reduced pursuant to a borrowing base re-determination and the Company will be required to repay the resulting shortfall, that the Company is unable to access required capital, that funding is not available from the Company's reserves based loan facility at the times or in the amounts required for planned operations, that occurrences such as those that are assumed will not occur, do in fact occur, and those conditions that are assumed will continue or improve, do not continue or improve and the other risks identified in the Company's most recent Annual Information Form under the 'Risk Factors' section, the Company's most recent management's discussion and analysis and the Company's other public disclosure, available under the Company's profile on SEDAR at Article content Although the Company has attempted to take into account important factors that could cause actual costs or results to differ materially, there may be other factors that cause actual results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The forward-looking information included in this release is expressly qualified in its entirety by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law. Article content Kolibri Global Energy Inc. is a North American energy company focused on finding and exploiting energy projects in oil and gas. Through various subsidiaries, the Company owns and operates energy properties in the United States. The Company continues to utilize its technical and operational expertise to identify and acquire additional projects in oil, gas and clean and sustainable energy. The Company's shares are traded on the Toronto Stock Exchange under the stock symbol KEI and on the NASDAQ under the stock symbol KGEI. Article content Article content Article content Article content Article content
National Post
6 days ago
- Business
- National Post
Kolibri Global Energy Inc. Announces Operations Update
Article content THOUSAND OAKS, Calif. — Kolibri Global Energy Inc. (the ' Company ' or ' Kolibri ') (TSX: KEI, NASDAQ: KGEI) is pleased to provide an operations update on its latest wells in its Tishomingo field in Oklahoma. Article content Article content The Lovina 9-16-1H, Lovina 9-16-2H, Lovina 9-16-3H, and Lovina 9-16-4H wells (all 100% working interest) have been successfully fracture stimulated and have been flowing back the fracture stimulation fluid through a conservative controlled flowback, and are in various stages of frack fluid recovery. While the wells are still cleaning up, they have been continuing to increase their production rates as more fracture stimulation fluid is recovered. For the last four days, the 1H well has been averaging 571 Barrels of oil equivalent per day ('BOEPD') with 473 Barrels of oil per day ('BOPD'), the 2H well has been averaging 643 BOEPD with 523 BOPD, the 3H well has been averaging 416 BOEPD, with 339 BOPD and the 4H has been averaging 322 BOEPD with 271 BOPD. The Lovina wells are producing much higher percentages of oil than many of our previously drilled wells. The higher oil percentage and the longer well lengths, with the controlled conservative flowback have led to a longer cleanup cycle compared to past Kolibri wells. Production tubing strings will be run in the wells starting next week, which previously led to significantly higher production rates in the offset well. Article content The Forguson 17-20-3H well has been successfully fracture stimulated and is anticipated to begin its flowback in the next few days. Kolibri is operator and has a 46% working interest in this well, which is testing the economics of our 3,000 acres located on the eastern side of our acreage. Article content A drilling rig is scheduled to move in on August 11, 2025, to begin drilling the Barnes 6-31-2H and Barnes 6-31-3H wells. These wells are planned to be 1.5-mile laterals, in which Kolibri has a 99.9% working interest. Once the drilling of both wells is complete, completion operations are planned to occur simultaneously with the two previously drilled Velin wells. Article content Wolf Regener, President and CEO, commented, 'We are thrilled about the high oil percentage of the Lovina wells, which we believe generally leads to higher netbacks for the Company and will lead to slower decline rates. We are also looking forward to seeing what the ultimate productivity of these wells will be. Article content The east side acreage, where the Forguson well is located and Kolibri has approximately 3,000 net acres, is not included in the December 31, 2024, reserve report. The Caney target for the Forguson well has very similar characteristics and thickness to the main part of the field in Kolibri's proved acreage, except that it is shallower. If the Forguson well proves to be economic, in addition to adding cash flow, it could lead to many additional development locations for the Company. Article content We are looking forward to the additional production and cash flow from all of these wells, which we expect will significantly increase the Company's cash flow and add incremental value to our shareholders.' Article content About Kolibri Global Energy Inc. Article content Kolibri Global Energy Inc. is a North American energy company focused on finding and exploiting energy projects in oil and gas. Through various subsidiaries, the Company owns and operates energy properties in the United States. The Company continues to utilize its technical and operational expertise to identify and acquire additional projects in oil and gas. The Company's shares are traded on the Toronto Stock Exchange under the stock symbol KEI and on the NASDAQ under the stock symbol KGEI. Article content Product Type Disclosure Article content This news release includes references to sales volumes of 'oil', 'natural gas', and 'barrels of oil equivalent' or 'BOEs'. 'Oil' refers to light crude oil and medium crude oil combined, and 'natural gas' refers to shale gas, in each case as defined by NI 51-101. Production from our wells, primarily disclosed in this news release in BOEs, consists of mainly oil and associated wet gas. The wet gas is delivered via gathering system and then pipelines to processing plants where it is treated and sold as natural gas and NGLs. Article content Cautionary Statements Article content In this news release and the Company's other public disclosure: The Company's natural gas production is reported in thousands of cubic feet ('Mcfs'). The Company also uses references to barrels ('Bbls') and barrels of oil equivalent ('Boes') to reflect natural gas liquids and oil production and sales. The references to Boes reflect natural gas, natural gas liquids and oil. Boes may be misleading, particularly if used in isolation. A Boe conversion ratio of 6 Mcf:1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value. Discounted and undiscounted net present value of future net revenues attributable to reserves do not represent fair market value. Possible reserves are those additional reserves that are less certain to be recovered than probable reserves. There is a 10% probability that the quantities actually recovered will equal or exceed the sum of proved plus probable plus possible reserves. Article content Readers should be aware that references to initial production rates and other short-term production rates are preliminary in nature and are not necessarily indicative of long-term performance or of ultimate recovery. Readers are referred to the full description of the results of the Company's December 31, 2024 independent reserves evaluation and other oil and gas information contained in its Form 51-101F1 Statement of Reserves Data and Other Oil and Gas Information for the year ended December 31, 2024, which the Company filed on SEDAR+ on March 13, 2025. Article content Certain statements contained in this news release constitute 'forward-looking information' as such term is used in applicable Canadian securities laws and 'forward-looking statements' within the meaning of United States securities laws (collectively, 'forward looking information'), including statements regarding the timing of and expected results from planned wells development, wells performing as anticipated, including anticipated increases in production, cash flow, higher netbacks, rates of return and efficiencies, statements regarding timing of flowback, that the Barnes 6-31-2H and Barnes 6-31-3H wells will be 1.5 mile laterals, statements regarding drilling and completion operations, and statements regarding additional development locations for the Company. Forward-looking information is based on plans and estimates of management and interpretations of data by the Company's technical team at the date the data is provided and is subject to several factors and assumptions of management, including that indications of early results are reasonably accurate predictors of the prospectiveness of the shale intervals, that required regulatory approvals will be available when required, that no unforeseen delays, unexpected geological or other effects, including flooding and extended interruptions due to inclement or hazardous weather conditions, equipment failures, permitting delays or labor or contract disputes are encountered, that the necessary labor and equipment will be obtained, that the development plans of the Company and its co-venturers will not change, that the offset operator's operations will proceed as expected by management, that the demand for oil and gas will be sustained, that the price of oil will be sustained or increase, that the gathering system issues will be resolved, that the Company will continue to be able to access sufficient capital through cash flow, debt, financings, farm-ins or other participation arrangements to maintain its projects, and that global economic conditions will not deteriorate in a manner that has an adverse impact on the Company's business, its ability to advance its business strategy and the industry as a whole. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions on which such forward looking information is based vary or prove to be invalid, including that the Company or its subsidiaries is not able for any reason to obtain and provide the information necessary to secure required approvals or that required regulatory approvals are otherwise not available when required, that unexpected geological results are encountered, that equipment failures, permitting delays, labor or contract disputes or shortages of equipment, labor or materials are encountered, the risks associated with the oil and gas industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration and development projects or capital expenditures; the uncertainty of reserve and resource estimates and projections relating to production, costs and expenses, and health, safety and environmental risks, including flooding and extended interruptions due to inclement or hazardous weather conditions), the risk of commodity price and foreign exchange rate fluctuations, that the offset operator's operations have unexpected adverse effects on the Company's operations, that completion techniques require further optimization, that production rates do not match the Company's assumptions, that very low or no production rates are achieved, that the gathering system operator doesn't get the issues resolved, that the price of oil will decline, that the Company is unable to access required capital, that occurrences such as those that are assumed will not occur, do in fact occur, and those conditions that are assumed will continue or improve, do not continue or improve, and the other risks and uncertainties applicable to exploration and development activities and the Company's business as set forth in the Company's management discussion and analysis and its annual information form, both of which are available for viewing under the Company's profile at Article content Article content , any of which could result in delays, cessation in planned work or loss of one or more leases and have an adverse effect on the Company and its financial condition. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law. Article content Caution Regarding Future-Oriented Financial Information and Financial Outlook Article content This news release may contain information deemed to be 'future-oriented financial information' or a 'financial outlook' (collectively, 'FOFI') within the meaning of applicable securities laws. The FOFI has been prepared by management to provide an outlook of the Company's activities and results and may not be appropriate for other purposes. The FOFI has been prepared based on a number of assumptions including the assumptions discussed above under 'Caution Regarding Forward-Looking Information'. The actual results of operations of the Company and the resulting financial results may vary from the amounts set forth herein, and such variations may be material. The Company and management believe that the FOFI has been prepared on a reasonable basis, reflecting management's best estimates and judgments. FOFI contained in this news release was made as of the date of this news release and the Company disclaims any intention or obligations to update or revise any FOFI contained in this news release, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law. Article content Article content Article content Article content Contacts Article content For further information, contact: Article content Article content Article content Email: Article content Article content
Yahoo
15-06-2025
- Climate
- Yahoo
Lovina completes sewing Verana's wedding dress and focuses on finishing last-minute chores
It is a nice sunny Sunday afternoon with a pleasant temperature of 75 degrees. It is great porch sitting weather. We attended church services this morning hosted by our neighbors. My cousin Lovina, her husband Pete and some of their families were there. It was good to visit with her again. I was surprised to see her. Cousin Lovina's daughter is getting married in July so we both are extra busy in our lives at the moment. I was surprised to hear this is the sixth of her children getting married. She has eighteen grandchildren. I don't know why I forget that while our family is growing, others also have children getting married and having children. It's probably because we don't see each other often and that reality doesn't sink in right away. Lovina's Dad, Chris, was my mother's only brother. We spent a lot of our childhood days together. We would help each other butcher hogs or cook apple butter in large quantities. Lovina and Pete live on Uncle Chris and Lizzie's farm. Lots of memories of years gone by. Yesterday was a busy workday here. A lot of jobs were completed for the upcoming wedding of daughter Verena and Daniel Ray. Daniel Ray's family and all of our family assisted with our work. The house siding was power washed, the pole barn was washed out well, flower and garden beds weeded, and sidewalks, pavement, and cement were all power washed. Windows, doors, cabinets, and walls were cleaned in the pole barn. Basement and breezeway windows were also cleaned. The younger children scrubbed the porch railings. Trimming was done around the fence lines, etc. We sure appreciated all of their help. Joe grilled forty pounds of chicken for lunch. I made creamed potatoes and dinner rolls to go along with that. Desserts were brought in. Friday evening most of our family had supper at daughter Loretta and Dustin's. We enjoyed spaghetti, banana poppers, grilled whole chicken, chips, applesauce, cookies, and cake. I had washed a lot of my clothes that day plus finished with my sewing, so it was a treat to not cook supper. Plus, I got to enjoy some time with my children and grandchildren while not working. Little Kylie is now five months and is at such a fun age. She's a real chatterbox. She weighs thirteen pounds now. She's a petite little girl. I sewed my son Kevin a new pair of pants for the wedding. I finished my dress, cape, and apron and also sewed my daughter Verena's wedding dress. She will wear a colonial blue colored wedding dress with a white cape and apron. The moms will wear dresses in a color called happy teal. The cooks will wear royal blue, and the sisters will wear a peacock color. The table waiter girls will wear aqua. This coming Wednesday my daughters and daughter in-law will come help do the last-minute cleaning. We have a new garage door ordered and the plans are to install it Tuesday evening. We also want to stain the ramp, steps, and the garden beds. Our to-do list is gradually getting jobs crossed off. The cook wagon, cooler, and wedding supply wagon will all come on Friday. On Saturday we will set the tables for the wedding. We usually can seat around 350 at one setting. This is a lot of plates, glasses, silverware, coffee cups, serving bowls, etc. to unpack. The wedding wagon owners usually want you to take a count of how many of each item there is then it is recounted when it's put back in. If anything gets lost or broken, then we have to pay the cost of it. On the bright side though we don't have to borrow dishes, stoves, etc. for the wedding. When Joe and I were married we didn't have the wedding wagons available to rent and everything was borrowed. Daughter Elizabeth will have her thirty-first birthday on Saturday, June 14. I wish her many more happy, healthy years. She was our first born and we named her after my mother. God bless you dear daughter on your birthday and always. On Saturday, Aug. 2, I will be at the Farmer's Market in South Bend, Indiana, from 8 to 11 a.m. for a book signing. I also will have books there to sell. The market is located at 1105 Northside Blvd., South Bend. I will be seated near the main office. I hope to meet some of you there! God bless! CREAMED POTATOES6-8 potatoesSeasoning of your choice to taste2 heaping tablespoons flour1 cup milk8 oz shredded Colby cheese or sliced cheese can also be usedPeel and dice potatoes into 1-inch pieces. Put potatoes in a 4-quart pot and cover with water. Bring to a boil then reduce heat and simmer for about 15 minutes. Mix flour and milk together and whisk until smooth. Stir into potatoes. Add seasoning. If you need thicker just mix more flour and milk. Add cheese and stir. Lovina's Amish Kitchen is written by Lovina Eicher, Old Order Amish writer, cook, wife, and mother of eight. Her three cookbooks, "The Cherished Table," "The Essential Amish Cookbook," and "Amish Family Recipes," are available wherever books are sold. Readers can write to Eicher at Lovina's Amish Kitchen, P.O. Box 234, Sturgis, MI 49091 (please include a self-addressed stamped envelope for a reply); or email questionsforlovina@ and your message will be passed on to her to read. She does not personally respond to emails. This article originally appeared on South Bend Tribune: Amish Kitchen: The Eichers are busy preparing for Verena's wedding
Buzz Feed
03-04-2025
- Entertainment
- Buzz Feed
14 Cool Female Tik Tok Accounts You Should Be Following
Whether they are making us laugh, think, tear up, learn to cook or just plain entertaining us! These ladies have got you covered…so get comfy, clear your schedule and scroll away! Cooking 1. Aims- we don't waste anything! Australian mom of 4 who doesn't waste any food at all. She will take the crusts and left over scraps from her kids breakfast and turn it into delicious granola. Using her air fryer or over; flour, sugar, honey, eggs, oats and spray, she can turn anything into something. Mixed in with some other really funny videos, Aims is a delight and her page is positive and fun and will bring a smile to your face everytime!! Check her out @ 2. Lovina - Amish recipes I just recently discovered her and her page is both educational and fun! Raised Amish but now living outside of the community with her husband, she upload cooking videos daily. Her recipes are all things she grew up making and they all look delicious. Mixed in with some interesting stories about her upbringing and the some history of the recipes, Lovina is a delight and will make you want to put on your apron asap! Check out her page here @literallyjust_a_girl 3. Jess- Aggressive Tutorials Jessica is a mom of 2, who's just about as real as they get. She says it like it is and doesn't hold back. The majority of her videos are of her daily life. Whether it's a realistic grocery haul or cooking meals for her family, her hilariously aggressive approach is very relatable. And her recipes are great and look super yummy! Check her out here @applesauceandadhd Comedy 4. Nicole - for those who love all things '90s/'00 Nicole makes really awesome videos that really capture those golden days. Whether it's a funny boy band video or a full on Y2K fashion haul and try-on; she is for the millennials. Creative, funny and great page if you need to escape for a bit. Check her out here @nicolestorydent 5. Chrissy - lover of dancing and boybands. Dentist by day, true millennial by night. This page is super fun and very hard to not watch every video…twice! Great music, dancing and super hilarious. Whether it's getting your ears pierced at Claire's, rollerskating parties, boy bands, doing car karaoke or waving your hands in the air like you just don't care. Fun, relatable and a great time. Check her out here @csapunch 6. Robyn Schall- Stand Up Comic Robyn went viral during the pandemic and even attracted the attention of Oprah and Jennifer Garner!!! She is a stand up comic from New York and posts daily videos of her life. From her bad dates, recreating other viral videos, her yearly goals list and her family and friends. Robyn is completely authentic, hilarious and very positive all the time. She has created a great community of followers called 'the kids' and is very interactive on her live shows. These videos are guaranteed to make you smile and brighten your day. Find her here @robynschallcomic Poetry - beautiful but might make you cry 7. Josie Balka Josie's poems are so beautiful and when she reads them it is mesmerizing. My favorite one is about being a fan of something. If you are in the mood to get into your emotions then check her out here @josiebalka 8. Whitney Hanson For those days when you want to get into your feels, this is the page for you. Beautiful and heartfelt and emotional are just a few words to describe her poetry. Her poem on grief will touch your heart and make you a little teary. If you love poetry and feeling all your emotions then please check her out @whitneyhansonpoetry 9. Karinna Aidan Poems about something we all experience.. love. Whether it's finding love or losing love or heartbreak, we've all been through it. These poems will make you think and reminisce about the people in your life, past or present. You can find her page here @karinnaaidan Miscellaneous 10. Love Luxery I am obsessed with this page. From the very interesting customers to the very awesome Mayra and Emily, to the insane cost of these bags!! These videos are so fun and informative! I have spent a lot of time watching all of them and kinda feel like an expert when it comes to designer bags now. Check these ladies out @ 11. Jodi Lytle The pallet lady! These videos are very fun and will introduce you to the world of unclaimed mail. Basically you can buy pallets of mail or returned mail and keep it for yourself. The excitement of watching Jodi open the mail and trying to guess what's inside it so fun. Not every item is a winner but occasionally there is some great stuff. Check her out here @palletprincess0 12. Morgan Chomps If you are looking to see someone try all the snacks and give an honest review then this is your page. From everything Reese's or cakes and candy, Morgan tries it all. The only downside is that it makes you want to eat, so maybe have a snack nearby before you watch @morganchompz 13. Dannah Eve All things safety. From getting in your car in the parking lot, to walking home at night, to avoiding someone who is hitting on you and everything in between. This page offers really simple and smart safety tips for every scenario. These videos are very informative and will give you tools and make you feel a bit more prepared if you every came accross any situation you don't want to be in. Definitely worth checking out her page @dannah_eve
