Karoon Energy Ltd · ASX:KAR
Karoon Energy — Non-Deal Roadshow (September 2023)
15 slides from Karoon Energy's roadshow presentation, Sep 12, 2023
Slide 1: Presentation for Macquarie Non-deal Roadshow
12 September 2023 Company Announcements Office ASX Limited Dear Sir / Madam For personal use only Presentation for Macquarie Non-deal Roadshow Enclosed is a presentation that is to be made by the CEO and Managing Director today. This announcement was authorised by the CEO and Managing Director. Your
Slide 2: Karoon Energy Macquarie NDR September 2023
For personal use only Karoon Energy Macquarie NDR September 2023
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: Overview of Karoon Energy
Overview of Karoon Energy Focus on oil production offshore Brazil as well as organic & inorganic opportunities Oil producer with exposure to Brazilian oil industry: For personal use only 100% owner/operator of high quality Baúna field in BM-S-40 offshore Brazil, 52 MMbbl 2P reserves1 Building reputa
Slide 5: Karoon interests in Santos Basin, Brazil
Karoon interests in Santos Basin, Brazil For personal use only Santos Neon Basin Goiá Baúna, Piracaba & Patola Block S-M-1537 Itajaí Production and Development Blocks Exploration Blocks Fields and Discoveries 50km Prospects 4
Slide 6: FY23 Overview
FY23 Overview Established profitable production base to underpin growth For personal use only Increased production and Advancing growth strategy Progress on sustainability Strong balance sheet profitability objectives As at 30 June 2023: Baúna intervention and Patola LTI rate of 0.10, TRIR of 0.41 1
Slide 7: Solid finish to FY23
Solid finish to FY23 Higher production and lower capex expected over next 12 months Production and revenue Capex 566.5 Higher production 250 238.4 12 600 in FY23 led to Limited capex For personal use only expected over next Production volumes (MMbbl) 44.8 10 500 revenue up 47% 200 12 months Sales re
Slide 8: Guidance
Guidance1 Period 6 months to 31 Dec 23 12 months to 30 June 24 NOTES: For personal use only (TY23) (NTM) 1. Guidance is subject to various risks (including those Low High Low High “Key Risks” set out in Karoon’s 2023 Annual Report) Production (MMbbl) 4.5 6.0 9 11 2. Unit Production Costs: based on d
Slide 9: BM-S-40: Baúna, Patola and Piracaba
BM-S-40: Baúna, Patola and Piracaba Interventions and Patola delivered safely, on time and below budget BM-S-40 Baúna intervention campaign completed in Sept 2022. Initial incremental production >11,000 bopd (targeted 5,000 – 10,000 bopd). Peak production For personal use only >25,000 bopd achieved
Slide 10: Baúna operating performance
Baúna operating performance Focus on maintaining facilities uptime and active well management FPSO efficiency in FY23 100% Karoon’s highest priority is maintaining safe and healthy work For personal use only environment, and minimising environmental impact 80% 60% Due to gas release from HP flare sy
Slide 11: Potential Neon development
Potential Neon development Control wells drilled safely and below budget; feasibility studies underway Both Neon control wells successful, achieved pre-drill objectives: For personal use only Neon-1 confirmed 39 API oil and oil-water contacts closely aligned to seismic predictions Neon-2 confirmed 3
Slide 12: Capital Allocation Framework
Capital Allocation Framework Building scale to achieve long term sustainable cashflow and shareholder returns Operating cash flow For personal use only Priority is to support safe and reliable operations at Baúna and meeting capital commitments including debt repayments Non-discretional capital spen
Slide 13: Assessing Inorganic Growth Options
Assessing Inorganic Growth Options Evaluation ongoing For personal use only Continuing to actively assess inorganic growth opportunities Rigorous and disciplined screening process used, with key criteria including: Value accretive, with acceptable risk profile Fundable Producing, or close to FID if
Slide 14: Sustainability
50 50 replace Emission intensity Emissions (tCO2e) 40 40 Sustainability (kgCO2e/bbl) 30 30 20 20 Focus on carbon emissions, social projects 10 0 10 0 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 Progress with Baúna FPSO Scope 1 emissions reduction achieved via Scope 1&2 emissions (tCO
Slide 15: Summary
Summary Focus on creating shareholder value Significant progress on delivering strategic objectives in FY23, with For personal use only production increase from 12,600 bopd to ~34,000 bopd at year end, unit cash cost reduced to US$15.75/bbl Production expected to increase to 9 – 11 MMbbl in NTM, wit