Kolibri Global Energy increases production with three more successful Oklahoma wells

(WO) – Kolibri Global Energy Inc. announced three more successful wells in its Tishomingo field in Oklahoma, which have been adding over 1,500 boed to the company’s production.

The Barnes 8-1H, 8-2H, and 8-3H wells were drilled and completed under budget and are still cleaning up after the fracture stimulations. The two Caney formation wells, the Barnes 8-1H and 8-2H, have produced at a 12-day average rate of 465 bpd and 565 boed respectively.

For the last five days, the Barnes 8-1H has averaged 500 boed, and the Barnes 8-2H has averaged 590 boed. These wells were the first down-spacing wells in the field and were drilled at a 6 well per section spacing pattern with the Barnes 8-1H in the upper Caney, and the Barnes 8-2H in the lower Caney.

The Barnes 8-3H well, which is in the T-zone formation and is located under and between the Barnes 8-1H and 8-2H wells, has an 11-day average rate of 445 boed and has averaged 490 boed for the last 5 days, with the last 2 days at 570 boed.

Production optimization is currently in progress on all three of the wells.

Wolf Regener, President, and CEO commented, “While it’s early, these wells are on track to confirm our belief that the down spacing of the field is economic, which would enable much more production from this field. The T-Zone, Barnes 8-3H well is also exciting for us as it is producing at higher oil rates than our previous T-zone wells and is not currently showing signs of decline. Achieving commercial rates from the T-zone could add many additional well locations and reserves that are not currently reflected in our reserve estimates. The T-zone formation is present over our entire acreage block and is thus potentially very significant to the Company. Over the coming months, we will be gathering data from these wells, which will be used to further optimize reserve recoveries from the field.