Drilling & Completions | Key Wells | Drilling Activity
Kolibri Preps to Drill Three Wells at SCOOP Prospect
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Kolibri Global Energy Inc. provided an update on its operations located in the Company’s Tishomingo field in Oklahoma.
Operations
The Company has completed the location work for the Glenn 16-3H and Brock 9-3H wells, which are the third and fourth wells in the Company’s 2022 drilling program. The location for the 5th well, the Emery 17-2H, should be completed by the end of the month. The drilling rig loads finished arriving on location last week and a third-party crane is expected on site tomorrow to begin rigging up the drilling rig.
The rig is expected to spud the Glenn 16-3H by September 1st. All three wells are planned to be drilled back to back and the completion operations for the Glenn 16-3H and Brock 9-3H wells have been tentatively scheduled for the first week of October.
Wolf Regener, President and CEO, commented, “I am excited that we will be continuing our 2022 drilling program shortly. The Barnes 7-3H and Barnes 8-4H wells both continue to exceed our management type curve. We are currently on target to meet or exceed our previously announced financial guidance. This guidance has the Company exiting the year with production rates that are about three times higher than the beginning of the year, with 2022 adjusted funds flow that is about four times higher than what we achieved in 2021, and a total debt to EBITDA ratio at year-end of less than 1.0.”
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