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01/11 07:32
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Access earnings results, analyst expectations, report, slides, earnings call, and transcript.
The earnings call presents a mixed picture. Despite production increases and cost reductions, revenue and net income have declined due to lower oil prices and production disruptions. The Q&A indicates management's cautious optimism but also highlights uncertainties, particularly regarding production guidance and the potential of new wells. The positive impact of share buybacks is offset by financial risks and reliance on credit facilities. Overall, the sentiment is balanced, resulting in a neutral prediction for stock price movement.
Average Production (Q2 2025) 3,220 BOE per day, up 3% year-over-year. The increase was due to production from wells drilled and completed in the last 6 months of 2024, partially offset by temporary shut-ins during Lovina completion operations.
Net Revenue (Q2 2025) $10.8 million, down 22% year-over-year. The decrease was due to a 24% drop in average prices and lower oil production from shut-in wells.
G&A Expense (Q2 2025) $1.4 million, down 9% year-over-year. The decrease was attributed to lower accounting and auditing fees.
Adjusted EBITDA (Q2 2025) $7.7 million, down 23% year-over-year. The decline was due to lower average prices.
Net Income (Q2 2025) $2.9 million, down from $4.1 million year-over-year. The decrease was due to lower revenue.
Netback from Operations (Q2 2025) $29.66 per BOE, down from $40.40 per BOE year-over-year. The decline was due to lower average prices, partially offset by lower operating expenses per BOE.
Average Production (Year-to-Date June 2025) 3,646 BOE per day, up 13% year-over-year. The increase was due to production from wells drilled in the last 6 months of 2024, partially offset by production loss from shut-in wells.
Net Revenue (Year-to-Date June 2025) $27.2 million, down 3% year-over-year. The decrease was due to a 14% drop in average prices, partially offset by increased production.
Net Income (Year-to-Date June 2025) $8.6 million, up from $7.4 million year-over-year. The increase was due to lower operating and interest expenses and gains on commodity contracts, partially offset by lower revenues.
Adjusted EBITDA (Year-to-Date June 2025) $20.5 million, roughly flat compared to $20.4 million year-over-year. Lower operating expenses and reduced losses on commodity contracts offset the impact of lower revenues.
Netback from Operations (Year-to-Date June 2025) $34.05 per BOE, down 14% year-over-year. The decline was due to lower average prices, partially offset by lower operating expenses per BOE.
Production: Production increased to 3,220 BOE per day in Q2 2025, up 3% from the prior year quarter. This was achieved despite temporarily shutting in 540 BOE per day of wells for Lovina well completions.
New Wells: Four Lovina wells were brought online, showing high oil percentages. Two new wells, Barnes 6-31-2H and 3H, are being spudded.
Revenue: Net revenue decreased 22% to $10.8 million in Q2 2025 due to a 24% decrease in average prices and lower oil production from shut-in wells.
Credit Facility: Borrowing base increased by 30% from $50 million to $65 million, providing more flexibility in managing working capital.
Operating Expenses: Operating expenses remained low at $7.15 per BOE, contributing to cost efficiency.
Netback: Netback from operations decreased to $29.66 per BOE from $40.40 in the prior year quarter due to lower average prices.
Share Buybacks: The company repurchased approximately 130,000 shares in July 2025 as part of its strategy to return capital to shareholders.
Future Production Plans: Nine new wells are expected to start production in the second half of 2025, anticipated to significantly increase production and cash flow.
Production Disruptions: Temporary shut-in of wells during Lovina completion operations reduced production by 540 BOE per day in the quarter, impacting revenue.
Revenue Decline: Net revenue decreased by 22% compared to the prior year quarter due to a 24% decrease in average prices and lower oil production from shut-in wells.
Price Volatility: Lower average oil prices led to a 23% decrease in adjusted EBITDA and a 14% decrease in netback from operations year-to-date.
Operational Costs: While operating expenses per BOE decreased, the company faces ongoing challenges in managing costs amidst fluctuating production levels.
Financial Flexibility: Although the borrowing base increased by 30%, reliance on credit facilities could pose risks if market conditions worsen or production targets are not met.
Production and Cash Flow: The company plans to bring 9 new wells into production in the second half of 2025, which is expected to significantly increase both production and cash flow during the last two quarters of the year.
Capital Management: The borrowing base of the credit facility was increased by 30% from $50 million to $65 million, providing greater flexibility for managing working capital and reflecting the growing value of the field.
Shareholder Returns: The company intends to continue returning capital to shareholders through share buybacks, with approximately 130,000 shares repurchased in July 2025.
Operational Growth: The company is focused on executing its growth strategy, including spudding two new wells (Barnes 6-31-2H and 3H) and testing the Forguson well in the coming weeks.
Share Buyback Program: Kolibri Global Energy Inc. has been actively returning capital to shareholders through share buybacks. In July 2025, the company repurchased approximately 130,000 shares. The company intends to continue this program as part of its strategy to enhance shareholder value.
The earnings call reveals mixed signals: strong production growth and share buybacks are positives, but declining net income, netbacks, and increased OpEx are concerns. The Q&A highlights uncertainties around future drilling plans and reliance on oil prices, which could limit growth. Given these factors, the stock price is likely to remain stable, leading to a neutral sentiment.
The earnings call presents a mixed picture. Despite production increases and cost reductions, revenue and net income have declined due to lower oil prices and production disruptions. The Q&A indicates management's cautious optimism but also highlights uncertainties, particularly regarding production guidance and the potential of new wells. The positive impact of share buybacks is offset by financial risks and reliance on credit facilities. Overall, the sentiment is balanced, resulting in a neutral prediction for stock price movement.
The earnings call reveals strong financial performance with significant growth in net income, EPS, and adjusted EBITDA. Despite some uncertainties in the Q&A, the company's strategic initiatives, such as increased production and drilling efficiency, alongside shareholder returns through buybacks, paint a positive outlook. The decrease in CapEx and operational costs further supports a positive sentiment. Although commodity price fluctuations pose risks, the overall financial health and optimistic guidance suggest a positive stock price movement.
The earnings call reveals mixed results: strong revenue growth and increased production, but decreased net income and EPS. However, the continuation of a share buyback program, a potential partnership with a large oil company, and improved Q4 financial metrics suggest a positive sentiment. Despite challenges such as increased operating expenses and regulatory risks, the optimistic guidance and strategic partnerships are likely to result in a positive stock price movement over the next two weeks.
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