Kolibri Global Energy posts record Q1 output and EBITDA, ups credit line to $75M
Kolibri Global Energy posted record Q1 production and EBITDA from full-period contributions of 2025 wells, while net income fell on a $2.9 million non-cash mark-to-market commodity loss. It raised its credit facility to $75 million, paid $8 million debt and began a three-well Clifton Mack drilling program scheduled for Q3 2026.
1. Record Q1 Operational Performance
Kolibri Global Energy achieved record quarterly production and net revenue in Q1 2026, driven by full-period contributions from wells drilled during 2025. The company maintained a 35% compound annual production growth rate over the past three years and delivered a significant EBITDA increase despite a 13% rise in operating expenses per BOE due to workover costs and prior-year fee reassessments.
2. Strengthened Financial Position
The balance sheet was reinforced by expanding the revolving credit facility to $75 million and executing $8 million in debt paydowns through May. However, net income was constrained by a $2.9 million non-cash mark-to-market loss on commodity contracts triggered by the March oil price surge.
3. Strategic Drilling and Growth Initiatives
Management launched a three-well Clifton Mack drilling program with first production expected in Q3 2026 and appointed three new board members to guide capital allocation. The company is evaluating a strategic shift between accelerated drilling, further debt reduction and potential share buybacks as it anticipates oil prices will stay elevated longer than the market forward curve indicates.
4. Risk Management and Hedging
Kolibri increased its working interest in the current drilling program to 88% from 67% and hedged approximately 50% of its projected 2026 production using swaps, costless collars and deferred puts. The company expects water hauling costs to decline as the effects of 2025 fracture stimulations wane and confirms oil takeaway remains unconstrained while gas and NGL logistics are managed by a partner.