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Karoon Energy Ltd ( (AU:KAR) ) just unveiled an announcement.
In its fourth quarter report for 2024, Karoon Energy Ltd announced a record-breaking annual sales revenue of US$776.5 million, despite facing operational challenges including a 12-day shut-in at Baúna due to FPSO anchor chain repairs. The company reported a slight decline in production but a significant increase in sales volumes due to the timing of Baúna liftings. Karoon successfully completed its exploration program in the US Gulf of Mexico, resulting in a substantial increase in contingent resources at Who Dat East and plans for future development. The company is also negotiating the potential acquisition of the Baúna FPSO to enhance operational efficiency. Looking forward, Karoon plans further share buybacks and aims to tackle production declines with strategic interventions, highlighting its focus on organic growth opportunities.
More about Karoon Energy Ltd
Karoon Energy Ltd is a company operating within the oil and gas industry, focusing on exploration and production activities. Its primary operations are located in Brazil and the US Gulf of Mexico, with a notable emphasis on the development and management of offshore assets such as the Baúna Project and Who Dat fields.
YTD Price Performance: 0.23%
Average Trading Volume: 3,163
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $651.8M
For an in-depth examination of KAR stock, go to TipRanks’ Stock Analysis page.
