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Kolibri Global Energy Announces a 24% Increase in Production in 2024 With Record Annual Revenues and Adjusted EBITDA and Net Income of US$18.1 Million
All amounts are in U.S. Dollars unless otherwise indicated: 2024 HIGHLIGHTS Net revenue...
About this update from Kolibri Global Energy Inc
[{"type":"text","content":"Kolibri Global Energy Announces a 24% Increase in Production in 2024 With Record Annual Revenues and Adjusted EBITDA and Net Income of US$18.1 Million\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n.bwalignl { text-align: left }\n.bwalignr { text-align: right; list-style-position: inside }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwdoublebottom { border-bottom: double black 2.25pt }\n.bwlistdisc { list-style-type: disc }\n.bwpadb3 { padding-bottom: 4px }\n.bwpadb4 { padding-bottom: 5px }\n.bwpadl0 { padding-left: 0px }\n.bwpadl3 { padding-left: 15px }\n.bwpadr0 { padding-right: 0px }\n.bwsinglebottom { border-bottom: solid black 1pt }\n.bwtablemarginb { margin-bottom: 10px }\n.bwvertalignb { vertical-align: bottom }\n.bwvertalignt { vertical-align: top }\n.bwwidth1 { width: 1% }\n.bwwidth100 { width: 100% }\n.bwwidth11 { width: 11% }\n.bwwidth13 { width: 13% }\n.bwwidth5 { width: 5% }\n.bwwidth51 { width: 51% }\n.bwwidth53 { width: 53% }\n.bwwidth69 { width: 69% }\n.bwwidth7 { width: 7% }\n.bwwidth76 { width: 76% }\n.bwwidth9 { width: 9% }\n \n\n\n\n All amounts are in U.S. Dollars unless otherwise indicated:\n \n\n 2024 HIGHLIGHTS\n \n\n\n Net revenues for 2024 were $58.5 million, an increase of 16% compared to 2023, and within guidance. This increase was primarily due to a 24% increase in production partially offset by a 7% decrease in average prices in 2024 compared to 2023.\n \n\n Average production for 2024 was 3,478 BOEPD, an increase of 24% compared to 2023 production of 2,796 BOEPD, and within guidance. The increase is due to production from the wells that were drilled and completed in 2024\n \n\n Adjusted EBITDA\n \n (1)\n \n was $44.0 million in 2024 compared to $39.1 million in 2023, an increase of 13%, and within guidance. This increase was due to the increase in revenue partially offset by higher operating and G&A expense\n \n\n The Company’s Total Proved Reserves for 2024 increased by 24% to 40.2 million barrels of oil equivalent, from 2023 with an NPV10 of $534.7 million, according to the Company’s December 31, 2024, independent reserves evaluation\n \n\n Net income in 2024 was $18.1 million ($0.51 per basic share) compared to $19.3 million ($0.54 per basic share) in 2023. Net income decreased by 6% in...