Kolibri to Frack Three Clifton Mack Wells, With Production Expected in Third Quarter

Kolibri Global Energy plans to carry out fracture stimulation on three Clifton Mack wells once drilling finishes, with production "currently expected in the third quarter of 2026," the company said on May 14.

The wells are the Clifton Mack 11-14-1H, 11-14-2H and 11-14-3H. Each has a 1.5-mile lateral, and Kolibri holds an 88.1% working interest. Fracture stimulation, or fracking, pumps fluid into the rock to open flow paths for oil and gas. The company has not given a start date for it, only the quarter in which production is expected.

What Kolibri holds

Kolibri is an oil and gas producer working in Oklahoma's Tishomingo field. Its filings list two assets with reserve estimates:

• Lovina Well Pad: 2.086 million barrels of oil, P50 estimate (December 2025), 100% company interest.
• Tishomingo Field: 26.169 million barrels of oil, P50 estimate (March 2026), 4.9% company interest.

The Clifton Mack wells are not part of those figures as stated, and the company has not said what reserves or output they might add. Any production uplift is therefore unquantified. If the wells come on as planned, they would add to a base that grew 15% year on year in the first quarter.

Where the company stands

First-quarter 2026 production averaged 4,685 barrels of oil equivalent per day, up from 4,077 a year earlier. Net revenue was $19.6 million, a company record, and adjusted EBITDA was $14.8 million. Net income fell to $4.0 million from $5.8 million, mainly because of a $2.9 million unrealized loss on commodity contracts as oil prices rose.

Capital spending dropped to $1.9 million from $10.0 million. Net debt was $45 million at quarter-end, and management aims to reduce it to $25 million to $30 million by the end of 2026. The credit facility's borrowing capacity was raised in May from $65 million to $75 million.

What is uncertain

The third-quarter production target is guidance, not a commitment. It depends on drilling finishing and the frack work going ahead, and the company has not stated a completion date for either. Earlier timing for the company's 2025 wells also shifted from the original plan of June production, though the filings do not explain why. Investors will want to see whether the three wells start producing within the window of July 1 to September 30, 2026, and what initial rates they report.