Karoon Energy (ASX: KAR) delivered a solid operational performance in the fourth quarter of 2025 despite asset-level challenges and softer oil prices. Total production for CY25 reached 10.3 MMboe, near the top end of guidance, supported by a material improvement in Baúna FPSO efficiency to 95.1% for the year. Fourth-quarter production declined sequentially due to downtime at Baúna wells, although sales volumes increased on shipment timing. Revenue moderated to US$156.1 million, reflecting lower realised prices. Operational reliability improved meaningfully, with no recordable safety incidents and one year without lost time injuries. At Who Dat, production benefited from the successful E6 sidetrack, delivered below budget and in line with expectations. Looking ahead, Karoon’s focus is on FPSO operatorship transition, restoring Baúna well production, and disciplined capital allocation. Preliminary 2026 guidance reflects lower near-term production, with improvement expected in the second half following planned maintenance and investment programs
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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Karoon Energy: Strong Operational Execution Amid Transition Phase
Karoon Energy (ASX: KAR) delivered a solid operational performance in the fourth quarter of 2025 despite asset-level challenges and softer oil prices. Total production for CY25 reached 10.3 MMboe, near the top end of guidance, supported by a material improvement in Baúna FPSO efficiency to 95.1% for the year. Fourth-quarter production declined sequentially due to downtime at Baúna wells, although sales volumes increased on shipment timing. Revenue moderated to US$156.1 million, reflecting lower realised prices. Operational reliability improved meaningfully, with no recordable safety incidents and one year without lost time injuries. At Who Dat, production benefited from the successful E6 sidetrack, delivered below budget and in line with expectations. Looking ahead, Karoon’s focus is on FPSO operatorship transition, restoring Baúna well production, and disciplined capital allocation. Preliminary 2026 guidance reflects lower near-term production, with improvement expected in the second half following planned maintenance and investment programs
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au