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     117  0 Kommentare Kolibri Global Energy Inc. Provides 30 Day Rates and Announces Expanded 2023 Drilling Program

    Kolibri Global Energy Inc. (the “Company” or “KEI”) (TSX: KEI, OTCQX: KGEIF) is pleased to provide an operations update for its Tishomingo field in Oklahoma.

    Barnes 8-1H and 8-2H Caney Wells

    The Barnes 8-2H well had a thirty-day production rate of 476 barrels of oil equivalent per day (BOEPD), with 80% being oil. The Barnes 8-1H had a thirty-day production rate of 390 BOEPD, with 81% being oil. The Company attributes the higher production rate of the Barnes 8-2H well to it being in the Lower part of the Caney formation but believes both are economic wells at their forecasted decline curves. The data collected to date indicates that the optimum development of the Caney, at six well spacing, should be with all six wells placed in the lower Caney, which will access the Upper and Lower Caney reserves.

    Barnes 8-3H, T-zone Well

    The Barnes 8-3H well, which is the first T-zone well that utilized the Company’s latest fracture stimulation technique, is performing better than previous T-zone wells. The well had a thirty-day production rate of 480 BOEPD, with 68% being oil. The Barnes 8-3H is producing at a 20% higher oil rate than our previous best performing T-zone well.

    Additional Wells and Drilling Program Expansion

    Drilling is underway on the Barnes 7-5H well, which will be followed by the Barnes 7-4H well. Both wells are targeting the Lower Caney formation, and both will be fracture stimulated simultaneously after the drilling is complete.

    The Company now plans to drill another three well pad immediately after the Barnes 7-4H is finished drilling. The three well pad is planned to consist of two Lower Caney formation wells and one T-zone well. This will expand our 2023 drilling program to eight wells from the previous forecast of 6-7 wells for the year.

    The Company plans to release earnings after market close on August 3, 2023, and has also uploaded a new investor presentation to its website.

    Wolf Regener, President, and CEO commented, “We are pleased with the first three wells in our 2023 program as we continue to fine-tune our development program to maximize the value of the field. The Barnes 8-1H and 8-2H wells are on track to confirm our belief that the downspacing of the Caney is economic, which should enable much more production from this field.

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    Kolibri Global Energy Inc. Provides 30 Day Rates and Announces Expanded 2023 Drilling Program Kolibri Global Energy Inc. (the “Company” or “KEI”) (TSX: KEI, OTCQX: KGEIF) is pleased to provide an operations update for its Tishomingo field in Oklahoma. Barnes 8-1H and 8-2H Caney Wells The Barnes 8-2H well had a thirty-day production rate of …