Kolibri Global Energy Announces Increases of 118% in Net Income and 100% in EPS for Third Quarter 2024
Kolibri Global Energy Inc. (KGEI)
Company Research
Source: Business Wire
THOUSAND OAKS, Calif.--(BUSINESS WIRE)--All amounts are in U.S. Dollars unless otherwise indicated:THIRD QUARTER 2024 HIGHLIGHTSNet income for the third quarter of 2024 was $5.1 million and EPS was $0.14/share compared to net income of $2.3 million and EPS of $0.07/share for the third quarter of 2023, an increase of 118% and 100%, respectively. The increase was mainly due to an unrealized gain on commodity contracts of $1.3 million that was recorded in the third quarter of 2024 compared to an unrealized loss on commodity contracts of $2.6 million in the third quarter of 2023. In addition, the third quarter of 2024 had higher production which was offset by lower average prices and higher income tax expense compared to the third quarter of 2023Average production for the third quarter of 2024 was 3,032 BOEPD, an increase of 11% compared to the third quarter of 2023, which was 2,737 BOEPD. The increase was due to production from the wells that were drilled and completed in the last th
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KGEI
Sec Filings
- 12/5/24 - Form 6-K
- 11/13/24 - Form 6-K
- 11/12/24 - Form 6-K
- KGEI's page on the SEC website