Kolibri reports improved well performance in Oklahoma’s Tishomingo field

Kolibri Global Energy has reported improving production performance from its latest operated wells in the Tishomingo field in Oklahoma, with early results indicating higher oil-weighted output compared with earlier wells drilled in the area.

The Barnes 6-31-2H and Barnes 6-4H horizontal wells, both operated at a 100% working interest, have now been on production for approximately 30 days. The 1.5-mile lateral Barnes 6-31-2H well averaged 634 boed over its most recent five-day period, including 529 bpd of oil, while its 30-day average stood at 529 boed. The 1-mile lateral Barnes 6-4H well averaged 451 boed over the last five days and posted a 30-day average of 452 boed.

Kolibri said the Barnes wells continue to produce a high oil cut of roughly 83%, consistent with performance from the Lovina wells drilled earlier in the year. On a lateral-length-adjusted basis, the Barnes wells are producing about 22% more boed at the same point in their production life compared with the Lovina wells.

The company also provided an update on the Velin 12-9H and Velin 12-10H wells, both 1-mile laterals operated at a 97% working interest. These wells were fracture-stimulated prior to the Barnes wells and brought online afterward. Over the most recent five days, the Velin 12-9H well averaged 283 boed, while the Velin 12-10H averaged 233 boed. Thirty-day average rates were reported at 257 boed and 176 boed, respectively.

Kolibri noted that the Velin wells continue to improve but have exhibited different early-time behavior than offset wells in the field. The company attributed the slower cleanup in part to extended shut-in periods following fracture stimulation, required due to the close proximity of the four wellbores during completion operations. Kolibri also cited localized subsurface complexity, including healed natural fractures and small-scale faulting near a structural uplift, as potential contributing factors.

According to the company, the higher oil weighting from recent wells has increased overall liquids production. Kolibri said oil accounted for more than 75% of its production mix in November, compared with 66% during the third quarter.

Kolibri added that it expects the oil-rich wells to exhibit lower decline rates, similar to the Lovina wells, supporting forecasted project returns. The company also said it continues to repurchase shares and plans to reduce its outstanding credit facility balance during the first quarter.