Kolibri Global Energy CEO Wolf Regener on oil efficiency gains and future prospects

Proactive - Interviews for investors

Kolibri Global Energy Inc (TSX:KEI, NASDAQ:KGEI) CEO Wolf Regener talked with Proactive's Stephen Gunnion about the company's ongoing efforts to enhance operational efficiency and its strategic goals for 2024. Regener shared insights into how Kolibri has reduced drilling times significantly over the years, stating, "We’ve reduced drilling from 30 days down to 12 days for one-mile laterals and only 14 days for longer ones." He emphasized that this efficiency allows them to get 50% more productive interval with just two extra days of drilling. Kolibri's operations are centered in Oklahoma, focusing on oil production from the Ardmore Basin. The company expects to produce between 3,200 and 3,700 barrels of oil equivalent per day (boe/d) and has 32 million barrels of crude reserves. Additionally, Kolibri has seen a 30% rise in production and a 38% increase in revenue for the second quarter of 2024, leading to an expected revenue range of $57 to $62 million for the full year. Kolibri's adjusted EBITDA is forecasted at $43 to $48 million, with capital expenditures set between $33 and $39 million. As a result, the company plans to return capital to shareholders through share buybacks. Visit Proactive's YouTube channel for more videos, and don't forget to like, subscribe, and enable notifications for future updates! #KolibriGlobalEnergy #OilProduction #EnergyEfficiency #WolfRegener #OklahomaOil #LateralWells #OilandGas #ProactiveInterview #ShareholderReturns #ProactiveInvestors #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews