Q2 2026 Kolibri Global Energy Inc Earnings Call Transcript
Key Points
- Record quarterly revenue of $22.5 million, up 109% year-over-year, driven by a 46% increase in production and a 41% increase in average prices.
- Adjusted EBITDA reached an all-time high of $16.4 million, a 114% increase from the prior year quarter.
- Net income surged nearly 200% to $8.5 million, with basic EPS of $0.24 per share.
- Borrowing base increased by 15% to $75 million, providing greater financial flexibility and reflecting growing asset value.
- Exciting growth catalysts: drilling of the first False Caney well (Lovina 8-5-1HF) and completion of three Clifton Mack wells, expected to boost production in Q4.
- Three wells were shut in for one-third of the quarter due to drilling proximity to existing wells, temporarily reducing production.
- Production and operating expenses increased 24% to $8.90 per BOE, driven by workover costs on a non-operated well and higher water hauling costs.
- Realized losses on commodity contracts negatively impacted adjusted EBITDA and net income.
- Higher operating expenses, depletion, and interest expenses partially offset revenue gains.
- Cost pressures from rising chemical costs and higher drilling costs for the Clifton Mack wells due to unexpected pressure intervals, though management expects these to be isolated.
Good day, and welcome to the Kolibri Global Energy's second-quarter 2026 financials conference call. (Operator Instructions) Please note this event is being recorded. I advise participants that this conference call is being recorded today, August 13, 2026. This call will be available on the company's website at www.kolibrienergy.com.
Here is a disclaimer. This call may include forward-looking information regarding Kolibri's strategic plans, anticipated production, capital expenditures, exit rates, cash flows, reserves and other estimates and forecasts. Forward-looking information is subject to risks and uncertainties, and actual results will vary from the forward-looking statements.
This call may include future-oriented financial information and financial outlook information, which Kolibri discloses in order to provide readers with a more complete perspective on Kolibri's potential future operations, and such information may not be appropriate for other purposes. For a description of the assumptions on which such
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