Karoon Energy Ltd · ASX:KAR
Karoon Energy — Investor Day (October 2024)
35 slides from Karoon Energy's investor day presentation, Oct 31, 2024
Slide 1: Karoon Energy Field Trip Presentation (ASX cover letter)
31 October 2024 Company Announcements Office ASX Limited Dear Sir / Madam For personal use only Karoon Energy Field Trip Presentation As part of an investor day in the United States of America, the CEO and Managing Director will deliver a presentation titled “Karoon Energy Field Trip”. Incorporated
Slide 2: Karoon Energy Field Trip
For personal use only Karoon Energy Field Trip 30 October 2024
Slide 3: Disclaimer
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 information contained in this presentation
Slide 4: Welcome
For personal use only Julian Fowles CEO and Managing Director Welcome
Slide 5: Safety Moment & Emergency Exits
Safety Moment & Emergency Exits 1 Emergency stairs 2 Emergency elevator 3 Reception In event of emergency, follow directions of Karoon’s For personal use only emergency staff 3 1 Leave by nearest fire exit stairs Only use the emergency lift if you are unable to use the emergency stairs 2 1 Evacuate
Slide 6: Investor Field Trip Agenda - USA
Investor Field Trip Agenda - USA Date Location Time Topic Speaker 30 October Houston, USA 12:00 pm Walk from hotel to Houston office For personal use only 12:15-12.30 Introductions /Safety moment - Karoon USA Julian Fowles 12:30-13:30 Operator presentation and Q&A on Who Dat Eric Zimmermann, COO, LL
Slide 7: Introducing Karoon's team – USA
Introducing Karoon’s team – USA For personal use only Julian Fowles Roland Hamp CEO and EVP Technical Managing Director Shuyu Zhang Laurel Gandler John-Carter Senior Petroleum Senior Murchison Engineer Geoscientist Head of Trading and Marketing 6
Slide 8: Strategic objectives for CY24/25 - Who Dat
Strategic objectives for CY24/25 - Who Dat Unlock the full value of assets For personal use only Work collaboratively with our joint venture partners, LLOG (Operator) and Westlawn Americas Offshore, to maximise the value of Who Dat Support and extend production profile by maturing various, low risk,
Slide 9: Performance of Who Dat to date
Performance of Who Dat to date Recent production impacted by Hurricane activity Who Dat production stable in 1Q & 2Q24, 3Q24 production impacted by Facility Uptime (%)* For personal use only hurricane activity and planned maintenance of one gas compressor 100 95.6 96.1 95.3 98.5 93.8 86.5 Facility u
Slide 10: Reserves and resource growth potential
Reserves and resource growth potential Opportunities to realise and add value Acquisition in November 2023 incorporated valuation for Who Dat US$720m Acquisition Price Allocation (US$m) 1 production, infill and exploration/appraisal assets For personal use only 30 720 Infill opportunities provide sc
Slide 11: Presentation by LLOG, Who Dat Operator
For personal use only Presentation by LLOG, Who Dat Operator
Slide 12: LLOG Exploration and Who Dat
For personal use only LLOG Exploration and Who Dat October 30, 2024
Slide 13: Disclaimer
Disclaimer THIS PRESENTATION OF LLOG EXPLORATION OFFSHORE, LLC (THE “COMPANY”, “WE,” “US,” OR “OUR”) HAS BEEN PREPARED AT THE REQUEST OF KAROON AS AN ACCOMODATION AND IS BEING PRESENTED FOR GENERAL INFORMATION PURPOSES TO KAROON. THIS PRESENTATION DOES NOT PURPORT TO CONTAIN ALL OF THE INFORMATION T
Slide 14: Two Decades in the Deepwater
Two Decades in the Deepwater Founded in 1977 as an onshore Gulf Coast company LLOG today is a pure play deepwater Gulf of Mexico operator Headquartered in Covington, LA with an office in Houston, TX For personal use only 2001 2012 2012 2016 2017 2019 2021 - 2022 2023 Payoff of Who Dat area Entire Fi
Slide 15: Experienced Deepwater Operator
Experienced Deepwater Operator Drilled 316 wells in the Gulf of Mexico since 2002 – 125 have been in the deepwater For personal use only Mississippi Canyon Ewing Bank East Breaks Garden Banks Green Canyon Atwater Valley Alaminos Canyon Keathley Canyon Walker Ridge 14
Slide 16: Balanced Portfolio
Balanced Portfolio Seadrill West Neptune Who Dat For personal use only Praline Under contract through March Drilling 3 prospect in 2024 2026 + options Who Dat Who Dat East Spruance Dome Patrol Bellis Taggart Noble Valiant Salamanca Mission Blacktip N. Castile Blacktip Leon Buckskin Producing Fields
Slide 17: Top Producers in the GOM OCS
Top Producers in the GOM OCS 7th largest producer (“gross”) in the Gulf of Mexico Top 20 Oil & Gas Producers in the OCS: Ranked by Operator Full Year 2023 (Welligence) For personal use only Millions (MMBOE) - 20 40 60 80 100 120 140 Shell BP Chevron Talos Energy Occidental Murphy Oil LLOG 7th Walter
Slide 18: Leader in Safety Metrics
Leader in Safety Metrics Outperforming industry in all safety metrics These outstanding metrics can be attributed to: For personal use only Management’s continued commitment to protecting the environment and the health and safety of our employers and contractors LLOG’s Safety and Environmental Manag
Slide 19: LLOG Wins 2024 NOIA Safety In Seas Award
LLOG Wins 2024 (NOIA) Safety In Seas – Culture of Safety Award! For personal use only 18
Slide 20: Who Dat + Dome Patrol Oil Production
Who Dat + Dome Patrol Oil Production Who Dat + Dome Patrol Oil Production G Manifold Wells A Manifold Wells (Monthly Average bo/day) E Manifold Wells use only 45,000 Total Fluid Peak Oil Rate 40,000 35,000 2023 Development Oil Rate (BOPD) For personal Program 30,000 25,000 20,000 15,000 10,000 5,000
Slide 21: 2024 Production Operations
2024 Production Operations 2024 Who Dat + Dome Patrol Daily Production BOEPD 50,000 FGC downtime For personal use only FGC downtime Shut ins due to 2 40,000 hurricanes and water quality issues 30,000 BOEPD 20,000 10,000 G Manifold Wells A Manifold Wells E Manifold Wells - Jan Feb Mar Apr May Jun Jul
Slide 22: 2024 Hurricanes to Date
For personal use only 2024 Hurricanes to Date HELENE FRANCINE BERYL Who Dat DEBBY Well Downtime from Hurricanes Cost Who Dat East 0 $0 MILTON Who Dat South 236 hrs $8.55 MM Who Dat Facility ~8 days Deferred Production 21
Slide 23: Development and exploration upside
For personal use only Shuyu Zhang Senior Petroleum Laurel Gandler Senior Development Engineer Geoscientist and exploration upside
Slide 24: Development opportunities in Who Dat
Development opportunities in Who Dat Stacked nature of reservoir sands allows low-cost development Reservoir schematic Stacked reservoir sands allows For personal use only various opportunities to be exploited to offset natural decline: G5 Sidetracks from existing wells Sleeving opportunities, to ac
Slide 25: Production optimisation opportunities
Production optimisation opportunities Debottlenecking potential Review of potential to debottleneck and increase capacity of facilities For personal use only and subsea infrastructure planned for 2025, including: Flash Gas Compression (FGC) system reliability and capacity Water Handling System capac
Slide 26: Production (2022 – September 2024)
Production (2022 – September 2024) Who Dat in-field development opportunities increase field production For personal use only Gas volumes are converted to barrels of oil equivalent (boe) on the basis of 6,000 scf = 1 boe 25
Slide 27: Exploration: Who Dat East
Exploration: Who Dat East Exploration/appraisal well unlocks potential For personal use only Who Dat East located ~ 27km east of Who Dat FPS Exploration/appraisal well drilled in 2Q24 successfully intersected 45m net pay Measured Depth of high yield gas- condensate1 Information from well (wireline l
Slide 28: 191% increase in Who Dat East 2C Contingent Resource
191% increase in Who Dat East 2C Contingent Resource 1 Prospective Resource assessment to be completed in 4Q24 For personal use only Who Dat East Schematic 1. Refer ASX release dated 30.10.24 “Who Dat East Contingent Resource Update” for details, including the basis of calculation of Reserves and Re
Slide 29: Exploration: Who Dat South
Exploration: Who Dat South Closest opportunity to Who Dat FPS infrastructure Located ~ 11km west of Who Dat FPS and 6km from Who Dat G subsea manifold (within tie-back distance to both) For personal use only Water depth ~780 metres, drilled as a deviated hole to final total depth of 7,014 metres MD3
Slide 30: Exploration: Who Dat West
Exploration: Who Dat West Largest resource potential of currently targeted Who Dat prospects Who Dat West Prospect located 31 kilometres west of Who Dat Seismic imaging and analogues support Prospective Resources in For personal use only two amplitude supported anomalies Who Dat West exploration wel
Slide 31: Financial and commercial
For personal use only John-Carter Murchison Head of Trading and Marketing Financial and commercial
Slide 32: Pathway to market
Pathway to market Existing pipelines provide access to various Gulf Coast markets Ac c e s s t o m a r k e t Ove r vie w For personal use only Oil transport Transco Zone 4, Florida Oil exported via the Mars Pipeline from a Who Dat owned lateral Offshore Louisiana Zone 3, Gulfstream, other markets pi
Slide 33: Fiscal regime - US Deepwater Gulf of Mexico
Fiscal regime - US Deepwater Gulf of Mexico Net working interest (NWI) oil and Gulf of Mexico is a major technical and financial centre of gas production the oil and gas industry For personal use only Less: ONRR(1) royalty 12.50% (18.75% for post-2022 leases) Less: third party royalties The fiscal r
Slide 34: Glossary
Glossary Term Definition 1H25 The period from 1 January to 30 June 2025 1Q25 The period 1 January to 31 March 2025 For personal use only 4Q24 The period from 1 October to 31 December 2024 A&O Altera&Ocyan API American Petroleum Institute gravity is a measure of how heavy or light a petroleum liquid
Slide 35: For personal use only
For personal use only