Karoon Energy lifts quarterly oil production by 110%

• Karoon Energy reported a 110% increase in third-quarter oil production, reaching 2.27 million barrels of oil equivalent.
• Sales revenue rose 64% to US$191.6 million, supported by higher output despite lower average realised oil prices.
• The growth was driven by major FPSO revitalisation campaigns, alongside expansion progress at the Who Dat and Neon developments.

Karoon Energy (ASX:KAR) recorded third-quarter oil production of 2.27 million barrels of oil equivalent, representing a 110% increase over the second quarter of 2026.

The quarterly production surge lifted sales revenue by 64% to US$191.6 million, overcoming headwind pressures from lower average realised oil prices.

"Strong performance from Who Dat A1 sidetrack over Q3 FY26," said Karoon Energy CEO and Managing Director Carri Lockhart.

The company reported US$80.8 million in cash as of Sept. 30, funding all capital expenditures, buybacks of 13.3 million shares, and an interim dividend payment of US$6 million.

Management reiterated that full-year 2026 production and unit cost guidance remain unchanged following the operational updates.

Following the announcement, the Karoon Energy share price was down at $1.72.

The oil producer achieved operating efficiency of 96% at its Baúna facility and 100% at its Who Dat asset during the period.