Karoon Energy Ltd (AU:KAR) has released an update.
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Karoon Energy Ltd has temporarily halted production at its Baúna Project due to a mooring incident involving the FPSO, Cidade de Itajaí. The company has adjusted its 2024 production guidance slightly downwards as it works on repairing the anchor chains and securing regulatory approvals to resume operations. Despite the setback, the Baúna Project reservoirs are performing as expected, maintaining investor interest in the company’s prospects.
For further insights into AU:KAR stock, check out TipRanks’ Stock Analysis page.
