en.Wedoany.com Reported - Kolibri Global Energy released its second-quarter 2026 operating results, with production up 46% year-over-year to 4,690 barrels of oil equivalent per day, driven primarily by new wells brought online in the second half of 2025. The company is currently advancing its next round of drilling and completion operations.

The production increase drove quarterly revenue after royalties to a record $22.5 million, up 109% from $10.8 million in the same period last year; average realized prices also rose 41%, contributing to revenue. Net income for the quarter was $8.5 million, compared to $2.9 million in the prior-year period; adjusted EBITDA increased to $16.4 million, more than doubling year-over-year.

Kolibri has completed drilling on the final well of the three-well Clifton Mack pad, with hydraulic fracturing expected to begin this month, and all three wells are on track to reach production targets by the end of the third quarter. During drilling, downhole geological conditions required an additional casing string, resulting in higher costs than the standard Caney well design.

Company CEO Wolf Regener stated that the pressure conditions encountered during drilling may support higher initial production rates from these wells. Such geological conditions appear to exist only in the southwestern portion of the company's acreage, and future wells are expected to revert to the standard Caney well design.

Kolibri is also preparing to extend its development program beyond the Lower Caney interval, planning to drill the Lovina 8-5-1HF well to test the False Caney interval, which will be the company's first two-mile lateral well. Regener noted that successful development of other intervals would expand the company's future drilling inventory.

In the second quarter, the company's average operating netback was $43.92 per barrel of oil equivalent, up 48% year-over-year. Production and operating expenses rose from $7.15 to $8.90 per barrel of oil equivalent, partly due to workover costs on a non-operated well and higher temporary water hauling costs. Following the May redetermination of its credit facility, the company's borrowing capacity increased from $65 million to $75 million, with $30.5 million available under the facility as of June 30.