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Production woes drive 18% revenue drop for Karoon Energy

Escrito por Heidi Cuthbert Publicado Apr 28, 2026, 3:42 AMÚltima atualização Jul 6, 2026, 12:58 PM

Karoon Energy (ASX: KAR) released its 1Q26 report today, outlining a quarter marked by maintenance and remediation activities in the U.S. and Brazil alongside a 16% increase in realised oil prices.

Aviso Legal

What industry does Karoon Energy operate in? Karoon Energy is an upstream oil and gas exploration and production company focused on offshore assets in Brazil and the US Gulf of Mexico. Why was Karoon’s production lower in 1Q26? Production declined mainly due to planned maintenance and revitalisation work at the Baúna FPSO in Brazil and a riser leak at the Who Dat field in the US Gulf of Mexico, which temporarily shut in around 15,000 boepd (gross). How did oil prices impact Karoon’s 1Q26 results? A sharp increase in oil prices in March, driven by heightened geopolitical risk in the Middle East and disruptions around the Strait of Hormuz, lifted average realised prices for Baúna and Who Dat liquids by about 16% versus 4Q25, partly offsetting lower volumes. What dividend did Karoon pay for 2025? Karoon paid a fully franked final 2025 dividend of 3.1 AUD cents per share on 31 March 2026. What is Karoon’s outlook for the rest of 2026? The company expects higher free cash flow in 2H26 as most capex and maintenance are weighted to 1H26, with production expected to improve as remediation and development activities at Baúna and Who Dat come through.

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