Karoon Energy upgrades production guidance but flags Baúna fault
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The news: Oil producer Karoon Energy has upgraded its full-year production guidance, despite flagging an electrical issue at its Baúna project in Brazil.
The numbers: Karoon now expects to produce between 9.7 and 10.5 million barrels of oil equivalent (MMboe) for the 2025 calendar year.
Baúna production is forecast to be between 7.3 and 7.8 MMboe, up from previous guidance of 6.7 to 7.7 MMboe. Output from its Who Dat operation in the Gulf of Mexico was narrowed to 2.4 to 2.7 MMboe, from the earlier guide of 2.3 to 2.8 MMboe.
The context: Karoon said the upgrade was driven by Baúna's strong performance over the first half of 2025, until the recent electrical fault.
The company confirmed that Baúna's subsea SPS-92 well was impacted by the failure of its electrical submersible pump on 13 August.
While partial production at the well was restored on 18 August, work to replace the pump will require regulatory approvals and is therefore not expected to start until the second quarter of 2026 at the earliest.
The source: ASX
