The latest announcement is out from Karoon Energy Ltd ( (AU:KAR) ).
Karoon Energy Ltd has successfully completed the SPS-88 well intervention, resuming production earlier than expected, with initial flow rates meeting expectations. The Baúna Project, which underwent scheduled maintenance, has restarted production, surpassing pre-shut-in levels. The company is progressing with the acquisition of the Baúna FPSO and plans to select a new operations and maintenance contractor by mid-year. This strategic move aims to enhance FPSO efficiency and production outcomes, with further maintenance activities planned for 2025 and 2026.
More about Karoon Energy Ltd
Karoon Energy Ltd is an energy company operating in the petroleum exploration and production industry. The company focuses on oil and gas projects, with a significant emphasis on the Baúna Project located offshore Brazil.
YTD Price Performance: 15.06%
Average Trading Volume: 4,221
Technical Sentiment Signal: Buy
Current Market Cap: $738.5M
See more data about KAR stock on TipRanks’ Stock Analysis page.