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Karoon Energy Ltd (ASX:KAR)

ALERT: Price-sensitive ASX Announcement for KAR
Current share price for KAR : $1.405 -0.46 (-24.66%)+
Announcement
Release
16 Jun 2026 10:02AM
Price at Release
$1.865
Full Release
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Summary
Karoon Energy Ltd has been notified by LLOG Exploration Company, the operator of the Who Dat Joint Venture, of operational issues that will delay the reinstatement of production through the Who Dat E manifold until the second half of 2027. Currently, Who Dat is producing at approximately 3,000 barrels of oil equivalent per day, with plans to commence production from the A-1 ST well by mid-year and the G-1 ST well by the fourth quarter of 2026. Consequently, Karoon has revised its production guidance for 2026, reducing Who Dat's expected production to 1.2 to 1.5 million barrels of oil equivalent from the previous guidance of 2.1 to 2.5 million. Total production guidance has been adjusted to 7.2 to 8.2 million barrels from 8.1 to 9.2 million. Despite mechanical and weather-related delays, interventions at Baúna are proceeding, with both wells expected online mid-year. The company is reassessing its 2026 investment commitments across various projects.
Key Points
  • Operational issues at Who Dat delaying production reinstatement until 2H27.
  • Who Dat current production rate is approximately 3,000 boepd.
  • A-1 ST well production is scheduled to start by mid-year 2026.
  • G-1 ST well operations planned for 4Q26 pending approvals.
  • 2026 production guidance for Who Dat revised to 1.2-1.5 MMboe.
  • Total production guidance revised to 7.2-8.2 MMboe from 8.1-9.2 MMboe.
  • SPS-92 and PRA-2 interventions at Baúna are delayed but proceeding.
  • Karoon is reviewing 2026 investment commitments across projects.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.