Kolibri Global Energy Slashes Full-year Outlook

(RTTNews) - Kolibri Global Energy Inc. (KEI) on Friday said it now expects full-year production, revenue and adjusted EBITDA to be lower than the previous outlook.

The company said this was due to several reasons including new wells started producing later than previously forecasted, oil prices that are lower than previously assumed, and production impacts from the shut-in of wells surrounding the latest completions.

Kolibri now expects full-year revenue to be in the range of $51 million to $53 million, adjusted EBITDA in the range of $39 million to $41 million, and average production to be between 2,800 boepd and 3,000 boepd.