Karoon Energy Ltd · ASX:KAR
Karoon Energy — Morgans Mid-Cap Afternoon (November 2022)
15 slides from Karoon Energy's conference presentation, Nov 2, 2022
Slide 1: Karoon Energy – Morgans Mid-Cap Afternoon
For personal use only Karoon Energy Morgans Mid-Cap Afternoon 2 November 2022
Slide 2: Disclaimer
Disclaimer For personal use only Disclaimer This presentation has been prepared by Karoon Energy Ltd. The information contained in this presentation is for information purposes only and does not constitute an offer to issue, or arrange to issue, securities or other financial products. The informatio
Slide 3: Overview of Karoon Energy
Overview of Karoon Energy Focus on oil in Santos Basin, Brazil For personal use only Oil producer with exposure to Brazilian oil industry: 100% owner/operator of high-quality Baúna field in BM-S-40 offshore Brazil Building reputation as safe, reliable and responsible operator: Experienced Board and
Slide 4: Location of Karoon interests in Santos Basin, Brazil
Location of Karoon interests in Santos Basin, Brazil Production and For personal use only Development Blocks Neon Exploration Blocks SANTOS BASIN Fields & Goia Discoveries Baúna, Piracaba Prospects and Patola Clorita Itajai 50km
Slide 5: Strategic Objectives
Strategic Objectives Deliver base production and sanctioned projects to create foundation for further growth For personal use only Execute Baúna base business, focus on safety, reliability, strict capital controls Deliver Baúna intervention and Patola development projects: Aim to double production a
Slide 6: Macro Environment
Macro Environment Current environment provides opportunities and risks for Karoon For personal use only Underlying oil demand outstripping supply, reducing inventories and putting pressure on refiners, pushing up prices High prices exacerbated by global economic turbulence - war in Ukraine, inflatio
Slide 7: Baúna Operating Performance
Baúna Operating Performance High facilities uptime and active well management For personal use only FOCUS ON SAFETY, FACILITY INTEGRITY AND PREVENTIVE MAINTENANCE Core focus is on maintaining safe and healthy work environment and protecting natural habitats High operational uptime in FY2022 of 99% (
Slide 8: Baúna Interventions and Patola
Baúna Interventions and Patola Targeting increase in total production to >30,000 bopd For personal use only BAÚNA INTERVENTION PROJECT BM-S-40 Planned interventions on four wells: Installation of Electric Submersible Pumps (ESP) in PRA-2 and SPS-92 PRA-1 Installation of gas lift in SPS-56 SPS-93 SPS
Slide 9: Baúna Interventions and Patola cont.
Baúna Interventions and Patola cont. Targeting increase in total production to >30,000 bopd For personal use only PATOLA DEVELOPMENT BM-S-40 Development comprises: Drilling two new wells PRA-1 SPS-93 SPS-57 Installation of subsea pipeline and umbilical from Patola to FPSO SPS-92 Piracaba PRA-2 Tying
Slide 10: FY2023 Indicative Production and Cost Profile
FY2023 Indicative Production and Cost Profile1 Based on development projects underway For personal use only INDICATIVE PRODUCTION PROFILE (MMBBL) TARGETING MATERIAL PRODUCTION INCREASE/UNIT 7.5 – 9 COST REDUCTIONS Production from BM-S-40 assumes 92 – 97% facilities uptime (excluding scheduled outage
Slide 11: Progressing Neon Development Concept
Progressing Neon Development Concept Control well drilling aimed at de-risking structure For personal use only NEON EVALUATION Neon, Goiá light oil discoveries 50-60km NE of Baúna, 300m water depth Revised preliminary development concepts confirmed sufficient commercial potential to justify control
Slide 12: Assessing Inorganic Growth Options
Assessing Inorganic Growth Options Disciplined process to identify and pursue value-accretive growth opportunities For personal use only Continuing to actively screen inorganic growth opportunities Rigorous screening process used, with key criteria including: Value accretive, with acceptable risk pr
Slide 13: Progress on Climate and Social Projects
Progress on Climate and Social Projects First standalone Sustainability Report released For personal use only CLIMATE Climate targets: Carbon neutral1 on Baúna operations from FY2021 - achieved for FY2021 and planned to be achieved for FY2022 and Net Zero by 20352 Priority to reduce emissions where
Slide 14: Cash and Available Liquidity
Cash and Available Liquidity FACILITY TENURE (US$ MILLION) For personal use only DEBT AND LIQUIDITY AT 30 SEPT 2022 At 30 September 2022, total liquidity of US$361.8 million, comprising US$181.8 million cash/cash equivalents and US$180 million in undrawn available debt (vs liquidity of US$337.7 mill
Slide 15: Summary: Well Positioned to Deliver Shareholder Value
Summary: Well Positioned to Deliver Shareholder Value Strong base business with organic and inorganic growth potential For personal use only Three-well Baúna intervention program has added ~11,000 bopd to production, currently ~24,000 bopd prior to natural decline of ~15% pa resuming With Patola dev
Karoon Energy — Morgans Mid-Cap Afternoon (November 2022) on 6ix