Kolibri Global Energy posts $22.5M Q2 revenue on higher output

Kolibri Global Energy Inc. reported second-quarter 2026 revenue, net of royalties, of $22.5 million, up 109% from $10.8 million in the second quarter of 2025, according to a company press release. The increase was attributed to a 46% rise in average production and a 41% increase in average prices.

Average production for the quarter was 4,690 barrels of oil equivalent per day (BOEPD), compared with 3,220 BOEPD in the prior-year period. The company said the production gain was primarily driven by wells drilled and completed in the second half of 2025.

Net income for the quarter was $8.5 million, or $0.24 per basic share, versus $2.9 million, or $0.08 per basic share, in the second quarter of 2025, a 197% increase. The company said higher revenues drove the gain, partially offset by higher operating expenses, depletion expense, and realized losses on commodity contracts.

Adjusted EBITDA, a non-GAAP measure, was $16.4 million in the second quarter, up 114% from $7.7 million a year earlier. Production and operating expenses averaged $8.90 per BOE, compared with $7.15 per BOE in the prior-year quarter, an increase the company attributed partly to workover costs on a non-operated well and higher water hauling expenses.

For the first six months of 2026, revenue net of royalties was $42.1 million, up 55% from $27.2 million in the same period of 2025. Net income for the six-month period was $12.5 million, or $0.35 per basic share, compared with $8.6 million, or $0.24 per basic share, a year earlier.

As of June 30, 2026, the company had $30.5 million of available borrowing capacity under its credit agreement. In May 2026, the borrowing capacity was increased from $65 million to $75 million following a redetermination. Capital expenditures in the second quarter were $21.7 million, compared with $16.9 million a year earlier.

Kolibri Global Energy trades on the Toronto Stock Exchange as on NASDAQ: KGEI.

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