Kolibri Global Energy Expects Q2 Revenue Of $57M-$62M, Boosts Production with Successful Nickel Hill Wells, Plans Longer Laterals and Share Buyback to Enhance Field Economics and Shareholder Value
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Kolibri Global Energy Inc. (NASDAQ: KGEI) expects Q2 revenue of $57M-$62M, driven by successful Nickel Hill wells. The company plans longer laterals and a share buyback to enhance field economics and shareholder value. Updated 2024 guidance includes a 14%-33% increase in average production and a 13%-23% increase in revenue.
July 08, 2024 | 10:57 am
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Kolibri Global Energy Inc. (NASDAQ: KGEI) expects Q2 revenue of $57M-$62M, driven by successful Nickel Hill wells. The company plans longer laterals and a share buyback to enhance field economics and shareholder value. Updated 2024 guidance includes a 14%-33% increase in average production and a 13%-23% increase in revenue.
The successful performance of the Nickel Hill wells and the planned longer laterals are expected to improve field economics, leading to higher valuations. The share buyback program could further enhance shareholder value. The updated 2024 guidance indicates significant growth in production and revenue, which is positive for the stock.
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