Kolibri Global Energy Inc. (KEI) announced on Monday its projected revenue for the fiscal year 2024 to fall between $60 million to $65 million, reflecting an 18%-23% increase from its fiscal 2023 projection.
The company's adjusted earnings before interest, taxes, depreciation, and amortization, also known as EBITDA, is estimated to range from $46 million to $51 million for the year. This represents an 18%-24% growth from the fiscal 23 forecast.
The average production is projected to be within 3,500 to 4,000 barrels of oil equivalent per day (boepd), up 25% to 33% compared to the fiscal 2023 production outlook.
President and CEO, Wolf Regener, expressed optimism about another year of robust revenue and cash flow growth for the company, anchoring this optimism on their 2024 forecast. He particularly noted a 25% reduction in well costs, which dropped from $7.2 million last year to roughly $5.4 million for the two most recent Emery wells.
