Kolibri Global Energy Shares Dip Despite Oil Move
Kolibri Global Energy shares fell 10 cents to $6.14 in midday Nasdaq trading Thursday, despite reporting record first-quarter net revenue of $19.6 million. Net income dropped to $4 million after a $2.9 million unrealized loss on commodity contracts. Oil prices climbed about 3% on renewed Iran supply concerns. Kolibri’s production averaged 4,685 BOEPD, with three new wells being drilled.