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KAROON ENERGY


Sector: Oil and gas

Industry: Oil Production

The Bauna oil field offshore in Brazil comprises two producing oil reservoirs: Bauna and Piracaba, as well as an undeveloped Patola discovery. Both reservoirs are tied back to the leased floating production, storage and off-loading facility Cidade de Itajai.

The Patola project is subject to a final investment decision, which is due to occur prior to the end of FY21 (year end 30 June 2021). It has similar high quality reservoir characteristics to Bauna and Piracaba. First oil is expected from Patola in by the end of FY22.

The company’s expectations are high. Initial flow rates are projected to be greater than 10,000 barrels per day, but are expected to almost double oil production from current levels of around 15,000 to 25,000 to 30,000.

Operating costs in calendar year 2021 for Bauna are expected to be US$25/ barrel of oil. However, with Patola onstream and scale, Karoon expects life of field operating costs to drop to below US$20/bbl.

This is in the lowest quartile and is particularly impressive when you consider that the current oil price (Brent) is US$55/bbl.

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  • Radar Rating Unlock
  • Market Cap ($m)* 1078.3
  • Dividend Yield (%)* 0
  • NET CASH ($M) 245
  • * Data as of 18 January 2022

Latest Research Summary

KAROON ENERGY: RESEARCH TIP UPDATE - DECEMBER 2021
02 Dec, 2021

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Previous Research

Research Date Radar Rating  
KAROON ENERGY: RESEARCH TIP UPDATE - DECEMBER 2021 02 Dec, 2021 b3699e7f View Research
KAROON ENERGY: RESEARCH TIP UPDATE - SEPTEMBER 2021 23 Sep, 2021 0055653e View Research
KAROON ENERGY: RESEARCH TIP UPDATE - SEPTEMBER 2021 16 Sep, 2021 52506452 View Research
KAROON ENERGY: RESEARCH TIP UPDATE - JUNE 2021 24 Jun, 2021 0993b515 View Research
KAROON ENERGY: RESEARCH TIP UPDATE - JUNE 2021 10 Jun, 2021 705f0ff7 View Research
KAROON ENERGY : RESEARCH TIP UPDATES - May 2021 20 May, 2021 786937de View Research
KAROON ENERGY: RESEARCH TIP UPDATES - March 2021 18 Mar, 2021 ed3f4c2c View Research
KAROON ENERGY : RESEARCH TIP UPDATES - JANUARY 2021 21 Jan, 2021 3228adda View Research