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A B2i Digital Featured Company, Kolibri Global Energy Inc. (Nasdaq: KGEI, TSX: KEI), https://lnkd.in/eVHcxRGp, released its second quarter 2024 financial and operating results, which featured a 30% production increase and a 38% revenue increase. Wolf Regener, President and CEO, commented: “We are pleased that the Company continues to increase production and Adjusted EBITDA as we demonstrate the growth potential of the Tishomingo field. Average production increased by 30% and Adjusted EBITDA increased 31% in the second quarter of 2024 compared to the second quarter of 2023 demonstrating our continued growth. We are excited to enter into a new phase of the Company’s development where we believe the most economic and efficient strategy is to drill longer laterals. We just started drilling the three Alicia Renee wells (all 100% working interest) that will each have a 1.5 mile lateral and we expect to bring those wells on production early in the fourth quarter of 2024.” Highlights from the Q2 2024 results include: - Average production increased 30% to 3,128 BOEPD compared to Q2 2023 - Revenue, net of royalties, increased 38% to $13.9 million compared to Q2 2023 - Adjusted EBITDA increased 31% to $10.0 million compared to Q2 2023 - Net income was $4.1 million with EPS of $0.11/share - As of June 30, 2024, the Company had $16 million of available borrowing capacity on its credit agreement For the full earnings release, please visit: https://lnkd.in/eTcrrfzT Kolibri focuses on acquiring and developing energy projects across the United States. The company’s success is driven by an experienced management team, including Gary Johnson, CPA, MBA, CFO, Allan Hemmy, Senior Geologist, and Dalia "Lupita" Isaac, Landman, who provide substantial industry expertise to drive continued growth and development. Kolibri has established a shareholder loyalty program in partnership with B2i Digital and TiiCKER. Current and prospective shareholders can learn more at https://lnkd.in/eW89Uiv2. #KolibriGlobalEnergy #EnergySector #OilProduction #Q22024Results #ShareholderReturns #B2iDigital #KGEI #KEI #ShareholderLoyalty #TiiCKER #ShareholderPerks #EnergyInnovation
