Kolibri Global Energy Boosts Proved Developed Reserves by 30% Amid Lower Oil Price Assumptions
Event summary
- Kolibri Global Energy's proved developed producing reserves rose 30% in 2025 due to successful drilling program.
- Total proved reserves increased by just 1%, with NPV of $440.7 million (down 18% from 2024).
- 2026 oil price assumption for reserve report was $58/barrel, 24% below prior year's $76/barrel.
- Company plans to begin 2026 drilling program in June with multiple pad locations ready for expansion.
The big picture
Kolibri's reserve growth comes amid a strategic tension between conservative pricing assumptions and current market realities. The company's 35% compound annual production growth over three years positions it as an aggressive player in the shale oil sector, though its ability to sustain this momentum depends on maintaining high drilling activity levels despite volatile commodity prices.
What we're watching
- Reserve Conversion Dynamics
- How the company will convert its proved undeveloped reserves (71% of total) into future production.
- Pricing Disconnect
- Whether current $90+ oil prices will sustain higher drilling activity than 2025 levels.
- Execution Risk
- The pace at which Kolibri can ramp up drilling operations starting in June 2026.
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