Kolibri Global Energy . Common Stock Stock Earnings Reports

Kolibri Global Energy reported strongest quarterly results in company history for Q1 2026, with record quarterly production (4,685 BOE/d), net revenue ($19.6M, +20% YoY) and adjusted EBITDA ($14.8M). Production rose 15% YoY driven by wells drilled in 2025; the company cites a 35% CAGR in production over the past three years. Net income was $4.0M ($0.11/sh) versus $5.8M a year ago, impacted by a $2.9M noncash unrealized mark-to-market loss on commodity contracts due to the March oil price surge. Operating expense rose to $8/BOE (from $7.07) mainly from one-time/nonoperated workover costs and higher water hauling tied to last year’s fracture stimulations, and management expects these costs to decline going forward. Netback improved modestly to $38.41/BOE. The credit facility borrowing capacity was increased to $75M (from $65M) and net debt was $45M at quarter-end, with subsequent paydowns of $4M and another $4M planned in May. Management is evaluating capital allocation options (drilling, further debt reduction, share buybacks) with input from three new board members and is continuing a 3-well drilling program (wells expected online around Q3). Hedging: about 50% of prior production guidance is hedged (mix of collars, deferred puts and some swaps), and most hedges were in place by March 31. Management remains optimistic about higher oil prices boosting cash flow and intends to continue share buybacks, drilling and investor outreach.