Karoon Energy ramps up oil production in Brazil after Bauna repairs
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The news: Karoon Energy has ramped up oil production at its Bauna Project in Brazil to approximately 22,000 barrels of oil per day (bopd), driven by a strong contribution of around 8,600 bopd from its SPS-92 well.
The context: The increase in output follows the resumption of production at the PRA-2 well, following the successful reconnection of its subsea umbilical to the floating production vessel.
The well, which returned to service on 6 July and is currently undergoing clean-up, is producing between 1,000 to 1,200 bopd after an unexpected disconnection in October last year.
Karoon stated that all production wells at the Bauna Project are now active, further advancing the company’s objectives of driving higher production, lowering capital expenditure and generating stronger second-half cashflows.
What they said: “As we head into the second-half of 2026, our low-cost base, attractive operating break-even and production profile position the company to generate high cashflow margins, further strengthening our balance sheet and supporting disciplined capital allocation and long-term shareholder value creation,” Karoon CEO Carri Lockhart said.
The source: ASX
