Kolibri Global Energy Reports Strong Production from False Caney and Clifton Mack Wells
Kolibri Global Energy Inc. (TSX: KEI, NASDAQ: KGEI) has announced encouraging operational results from its latest drilling activities in the Tishomingo field in Oklahoma, highlighting strong early production from its first False Caney well and continued progress at three Clifton Mack wells. The results are expected to support the company’s production growth, increase cash flow and potentially expand its future drilling inventory and reserves.
The operational update provides an overview of two important developments within Kolibri’s Oklahoma operations. The Lovina 5-8-1HF well represents the company’s first test of the False Caney formation, while the Clifton Mack wells demonstrate the performance of a revised fracture stimulation design. Both developments are expected to contribute to the company’s broader strategy of developing additional productive formations alongside its established Caney operations.
Lovina Well Delivers Encouraging False Caney Production
The Lovina 5-8-1HF well, which is Kolibri’s first False Caney well, has recorded an average production rate of approximately 636 barrels of oil equivalent per day (BOEPD). This production includes approximately 545 barrels of oil per day, representing a strong early result from the well’s 1.2-mile lateral.
The initial production performance is particularly encouraging for the company because the False Caney formation represents a new development opportunity within its Tishomingo field. The results provide an important indication of the formation’s potential productivity and will help Kolibri evaluate the commercial prospects of additional drilling opportunities in this geological interval.
The company is working to establish the productive potential of the False Caney formation through its initial well results. Unlike the existing Caney development, the False Caney currently has no drilling locations included in Kolibri’s reserves report. Consequently, successful development of this formation could create additional opportunities for future drilling and expand the company’s overall resource base.
Kolibri believes that the False Caney could provide numerous future drilling locations if the strong production performance demonstrated by the initial well can be sustained and replicated. Additional development opportunities could potentially translate into increased reserves and greater long-term value for shareholders.
The company also indicated that future False Caney wells are expected to use primarily two-mile laterals. These longer lateral sections could deliver higher production rates if they achieve similar productivity per foot of lateral length as the Lovina 5-8-1HF well. The approach would allow Kolibri to evaluate the potential benefits of longer horizontal drilling sections while developing the formation.
However, the company will continue to assess production performance and operational results as it gathers more information from the initial test. The longer-term contribution of the False Caney to production and reserves will depend on the results of future wells and the company’s ability to develop the formation economically.
Clifton Mack Wells Record Combined Production of 1,911 BOEPD
Alongside the encouraging False Caney results, Kolibri reported continued progress at its three Clifton Mack wells, which have working interests ranging from 97.45% to 99.03%.
Since the company’s previous operational update, tubing installation has been completed across all three wells. The wells have subsequently been placed on controlled flowback and production as the company evaluates their performance following fracture stimulation.
The Clifton Mack wells have demonstrated a different flowback pattern compared with Kolibri’s earlier Caney wells. According to the company, the revised fracture stimulation design has resulted in significantly greater recovery of stimulation fluid during the initial flowback period.
The wells have recovered substantially more fracture stimulation fluid within the time they have been producing than previous Caney wells. They have also continued to maintain higher fracture fluid rates, providing additional information about how the updated completion approach is performing.
The three Clifton Mack wells are currently producing at a combined rate of approximately 1,911 barrels of oil equivalent per day. This production includes approximately 720 barrels of oil per day, representing another important contribution to the company’s operating production.
The performance of these wells is also relevant to Kolibri’s reserve development strategy. The Clifton Mack wells were drilled on acreage classified as probable reserves in the company’s reserve report. Based on their production results, Kolibri expects the wells to contribute additional proved reserves in its next reserve report.
The results provide further information about the effectiveness of the revised fracture stimulation design and could help guide future completion activities across the company’s acreage. Kolibri expects to incorporate operational experience from these wells into subsequent development projects, including additional modifications to the stimulation design where appropriate.
Management Highlights Future Development Opportunities
Wolf Regener, President and Chief Executive Officer of Kolibri Global Energy, expressed confidence in the early performance of the company’s first False Caney test and the production contribution expected from its latest wells.
Regener highlighted the strong early results from the Lovina 5-8-1HF well, noting that its production performance and flowback characteristics have been particularly encouraging. The company hopes that production will remain strong as the well continues to operate, potentially supporting the addition of numerous future drilling locations within the False Caney formation.
He also emphasized the potential production advantages of developing future False Caney wells with two-mile laterals. If these wells achieve productivity comparable to the initial test on a per-foot basis, their longer horizontal sections could generate higher production rates.
Management considers the absence of False Caney reserves in the existing reserve report an important factor in evaluating the potential significance of the discovery. Successful development could provide an opportunity to add meaningful reserves and strengthen the company’s long-term asset value.
Regener also pointed to the anticipated production and cash flow contributions from the Lovina and Clifton Mack wells. The company expects these developments to support higher overall cash flow and create additional shareholder value as production increases.
Kolibri Expands Its Development Strategy Beyond the Existing Caney Formation
Looking ahead, Kolibri plans to focus its future development activities on two complementary areas: continuing the development of the established Caney formation and pursuing additional opportunities in other geological benches that are not currently included in its reserves report.
The company’s latest operational results provide an opportunity to evaluate the production potential of these additional formations while improving its understanding of completion techniques. The False Caney test is particularly important because it could establish a new source of drilling inventory beyond the locations already recognized in the company’s reserves.
The revised fracture stimulation design is also expected to play an important role in upcoming drilling activities. Kolibri intends to use the new design for future wells, with further adjustments based on the operational lessons learned from the latest projects.
The company will continue monitoring production performance, fluid recovery and flowback characteristics to assess how the revised approach affects well productivity. Information collected from the Clifton Mack wells could help refine completion strategies and improve operational execution across future development programs.
Together, the Lovina 5-8-1HF and Clifton Mack wells represent important developments in Kolibri’s Tishomingo field operations. The initial False Caney production provides encouraging evidence of a potentially new development opportunity, while the Clifton Mack wells are contributing substantial production and may support additional proved reserves.
Kolibri’s strategy of advancing its existing Caney development while testing additional formations is intended to broaden its production base and strengthen its long-term growth opportunities. The company expects the latest wells to contribute incremental production and cash flow as it continues evaluating the potential of its Oklahoma acreage.
Future development decisions will be guided by well performance, reserve potential and operational experience gained from the latest drilling and completion activities. If the early results are sustained and replicated, the company’s additional geological targets could provide further opportunities to expand production, increase reserves and enhance shareholder value.
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