-- Kolibri Global Energy (KEI.TO) said Monday that it will accelerate its plan to drill three 1.5-mile lateral wells in the Tishomingo field in Oklahoma amid the recent spike in oil prices.
The company said it expects to begin drilling the Clifton Mac 11-14-1H, Clifton Mac 11-14-2H, and Clifton Mac 11-14-3H wells next week.
As a result, Kolibri expects its 2026 average production to rise 10%-20% year over year to a range of 4,400-4,800 barrels of oil equivalent per day. Revenue is projected to climb 30%-39% to a range of US$74 million-US$79 million.
The company also forecast a 31%-43% increase in adjusted EBITDA to a range of $55 million-$60 million. All estimates are based on an oil price of $74 per barrel.
"The cash flow generated will be used to pay down debt, return capital to shareholders, and also provides us with the ability to drill more wells this year," chief executive Wolf Regener said. "If oil prices remain elevated above our base forecast case, this would result in even greater free cash flow and provide us with more options."