Kolibri Global Energy Stock Gains After-Hours On Q4 Profit Rise, Retail Sentiment Spikes To 1-Year High

Its average production rose 56% to 4,440 barrels of oil equivalent per day for the fourth quarter compared to a year earlier as it drilled new wells.

Kolibri Global Energy (KGEI) shares rose 3.6% in extended trading on Tuesday after the company posted a rise in quarterly earnings.

The oil and gas producer reported a net income of $5.64 million for the three months ended Dec. 31, compared with $4.8 million a year earlier.

Kolibri’s net revenue rose 29% to $17.4 million for the fourth quarter. Wall Street expected it to post $17.9 million in revenue.

The company’s average price per barrel fell to $54.32 from $65.76 in the year-ago quarter.

Kolibri’s average production rose 56% to 4,440 barrels of oil equivalent per day for the fourth quarter compared to a year earlier as it drilled new wells.

The Thousand Oaks, California-based company said its oil revenue before royalties was $19.7 million in the fourth quarter, compared with $16.2 million a year earlier, aided by higher production.

“The cost efficiencies that our field operations team has achieved have allowed us to continue to grow production and revenue and drill 50% longer laterals while spending 12% less per well than we had forecast to spend in our 2023 drilling program,” CEO Wolf Regener said.

Kolibri forecasted its 2025 revenue to be between $75 million and $89 million.

The company had earlier forecast 2025 production to average between 4,500 to 5,100 boepd.

Retail sentiment on Stocktwits moved higher into the ‘extremely bullish’ (97/100) territory than a day ago and hit a 1-year high, while retail chatter remained ‘extremely high.’

Kolibri shares have gained 33.1% year-to-date (YTD).

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