$KGEI

3 stories mentioning KGEIUpdated 76d ago

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Sector Update: Energy Stocks Higher Monday Afternoon

Energy stocks advanced Monday afternoon, with the NYSE Energy Sector Index increasing 0.2% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.4%.The Philadelphia Oil Service Sector Index was shedding 0.8%, and the Dow Jones US Utilities Index decreased 0.6%.Front-month West Texas Intermediate crude oil rose 2.4% to $70.92 a barrel, and the global benchmark Brent crude contract added 1.8% to $73.31 a barrel. Henry Hub natural gas futures fell 2.9% to $3.18 per 1 million BTU.In sector news, President Donald Trump said the US will meet with Iran in Doha, Qatar, on Tuesday, after US officials said both sides agreed to "stand down for now" and that negotiations remained on track following strikes over the weekend, CNN reported Monday, adding that Iran has not confirmed that talks will take place.In corporate news, Matador Resources' (MTDR) majority-owned San Mateo Midstream joint venture has agreed to acquire the operating subsidiaries of Cardinal Midstream Partners from EnCap Flatrock Midstream for $752 million in cash. Matador shares rose 0.6%.Kolibri Global Energy (KGEI) shares jumped 7% after the firm said it expects revenue of $78 million to $84 million for its 2026 base forecast, assuming a $70 oil price for the rest of the year.Williams Companies (WMB) a natural gas processing infrastructure enterprise, may buy peer pipeline operator Momentum Midstream for about $5.5 billion, Bloomberg reported Sunday. Williams shares were down 3.7%.

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Commodities76d ago

Kolibri Global Energy Expands Oklahoma Drilling Strategy, Updates 2026 Outlook

Kolibri Global Energy (KGEI) said Monday that it expanded its long-term drilling strategy and updated its 2026 outlook by targeting additional formations across its Tishomingo field.Rather than concentrating primarily on the Lower Caney, the company will also develop the False Caney, Upper Caney, T-zone, and Sycamore benches while continuing drilling in the Lower Caney.Kolibri added a False Caney well to its 2026 drilling schedule. The company expects to target the Upper Caney in late 2026 or early 2027 before deciding when to drill the T-zone and potentially test the Sycamore.The company is drilling the three previously announced Clifton Mack wells and will then move the rig to the Lovina 5-8-1H well, a two-mile False Caney lateral where it holds a 98.5% working interest, it added.Unexpected geological conditions prompted Kolibri to redesign and redrill the Clifton Mack 11-14-1HR well, adding casing. The company is applying those findings as it batch-drills the remaining Clifton Mack wells, which it expects to complete in the third quarter.Using an assumed oil price of $70 per barrel, Kolibri forecasts 2026 production of 4,700 to 5,200 barrels of oil equivalent per day, revenue of $78 million to $84 million, and capital expenditures of $39 million to $43 million.Compared with fiscal 2025, the outlook implies production growth of 17% to 30% and revenue growth of 37% to 48%, according to the company.Chief Executive Officer Wolf Regener said the revised outlook reflects the company's broader development strategy, despite lowering its assumed oil price to $70 per barrel from $74 per barrel. He said additional casing increased drilling costs for the Clifton Mack wells, but reservoir pressures encountered there support strong production potential.Price: $4.92, Change: $+0.34, Percent Change: +7.42%

$KGEI

Equities76d ago

Kolibri Global Energy Raises 2026 Revenue Forecast

Kolibri Global Energy (KGEI) expects 2026 revenue of $78 million to $84 million, it said Monday.A single analyst surveyed by FactSet expects $88 million.The company said the revised forecast assumes a $70 oil price for the rest of the year.The company is also shifting strategy from mainly developing its Lower Caney in the company's Tishomingo field in Oklahoma to other benches that can be economically developed, including the False Caney, the Upper Caney, the T-zone, and the Sycamore, the company said.The company is also adding an additional well to its 2026 drilling program, which will target the False Caney, the company said.

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