Latest KAROON ENERGY (ASX:KAR) News

Karoon Energy has finalized the acquisition of the Baúna FPSO vessel, marking a pivotal shift from exploration to operational control that promises enhanced efficiency and potential asset longevity.

Karoon Energy delivered a record full-year sales revenue of US$776.5 million in 2024 despite a slight production dip in the final quarter. The company’s revised resource estimates and plans to acquire the Baúna FPSO signal a pivotal phase for its growth trajectory.

Karoon Energy plans to expand its on-market share buyback program by an additional US$75 million, aiming to invest a total of US$125 million in shares by the end of 2025 amid a belief that its stock is undervalued.

Karoon Energy has concluded drilling at the Who Dat West exploration well, reaching its target depth but finding no significant hydrocarbons. The joint venture now shifts focus to development options for prior discoveries in the area.