Karoon Energy Ltd · ASX:KAR
Karoon Energy — Macquarie Australia Conference 2024
17 slides from Karoon Energy's conference presentation, May 9, 2024
Slide 1: Macquarie Australia Conference Presentation cover letter
09 May 2024 Company Announcements Office ASX Limited Dear Sir / Madam For personal use only Macquarie Australia Conference Presentation 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. Yours faith
Slide 2: Karoon Energy Macquarie Australia Conference May 2024
For personal use only Karoon Energy Macquarie Australia Conference May 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: Overview
Overview Oil and gas producer with strong cash flows from high quality assets Interests in two world class oil and gas basins: Baúna Project in BM-S-40 offshore Brazil For personal use only Who Dat/Dome Patrol in US GoM Focus is to maximise performance and value of existing asset base through Intere
Slide 5: Six Month Financial Highlights
Six Month Financial Highlights1 Production growth with largely fixed cost base, supported by robust balance sheet Production (MMboe) Sales revenue (US$m) Unit Production Cost (US$/boe) For personal use only 6 5.47 500 30 27.49 26.10 412.9 5 25 23.54 400 4 3.67 299.4 3.37 20 17.25 300 267.1 3 2.50 14
Slide 6: 1Q24 Trading Update
1Q24 Trading Update No Lost Time or Recordable incidents in 1Q24 in either Brazil or US For personal use only Baúna Project Who Dat Assets Growth & exploration Robust balance sheet 1Q24 production of 2.16 MMbbl, 15% 1Q24 production of 0.78 MMboe on a Who Dat East appraisal/exploration At 31 March 20
Slide 7: Brazil: Baúna, Patola and Piracaba
Brazil: Baúna, Patola and Piracaba Facilities uptime remains key focus to optimise production BM-S-40 Average BM-S-40 (Baúna Project) production ~24,000 bopd for 1QCY24. Production impacted by SPS-88 offline (since Nov 2023), gas dehydration unit For personal use only and compression reliability iss
Slide 8: US: Who Dat operating performance
US: Who Dat operating performance Optimisation of production ongoing 1 G2 & G4 wells brought online in February 2024. Challenges experienced handling high pressures from new wells, including upper For personal use only G2 reservoir Comingled flow from upper and lower zones in G2 well started on 1 Ma
Slide 9: CY24 Production Guidance
CY24 Production Guidance 1 CY24 Baúna Project production forecast at 7.5 – 9.0 MMboe: For personal use only Low High Production Incorporates operational issues in April, extended annual Baúna Project (NWI) MMboe 7.5 9.0 maintenance shutdown in May-June (three weeks), and SPS-88 intervention completi
Slide 10: Organic Growth US: Infill and exploration at Who Dat
Organic Growth US: Infill and exploration at Who Dat Attractive near-field exploration/appraisal opportunities Oil discovery well MC 421 Who Dat East well spudded on 27 April. Who Dat South well to 2024 potential exploration well spud in 2Q24 Drill Centre / Production manifold For personal use only
Slide 11: Organic Growth Brazil: Potential Neon development
Organic Growth Brazil: Potential Neon development Further analysis over next 12 months to narrow range of uncertainties Board approved Neon Project to enter Concept Select (Decision Gate DG -1)2 For personal use only During Concept Select, will focus on addressing key economic and technical challeng
Slide 12: Capital Allocation Framework
Capital Allocation Framework Building long term sustainable cashflow and delivering shareholder value Safe and reliable operations, fund PBR contingent consideration, maintain / strengthen credit rating For personal use only Strong free cash flow from Baúna and Who Dat enhances capacity to pursue bo
Slide 13: Funding strategy – bond issue diversifies funding sources
Funding strategy – bond issue diversifies funding sources Strategy for growth underpinned by strong balance sheet Current RBL debt facility of US$340m, with strong support from high quality lending syndicate For personal use only Diversifying debt funding sources with inaugural U$350 million US 144A
Slide 14: CY24 Guidance
CY24 Guidance1 BASIS OF GUIDANCE 12 months to Period 31 Dec 24 1. Guidance is subject to various risks (including “Key Risks” set For personal use only Low High out in TY23 Annual Report) Production2 2. Production assumes drilling results and expected future development and appraisal projects being
Slide 15: Summary
Summary Focus on creating shareholder value Highest priority remains delivering safe and reliable operations while maximising production and value For personal use only Two high quality, low unit operating cost, producing assets in prolific hydrocarbon basins, with organic growth opportunities Near
Slide 16: Glossary
Glossary Term Definition 1QCY24 Quarter ended 31 March 2024 Bcf billion cubic feet For personal use only Boe Barrels of oil equivalent Carbon Neutral refers to having a balance between emitting and offsetting greenhouse gas emissions, achieved through acquiring carbon Carbon Neutral offsets in respe
Slide 17: Karoon Energy
For personal KAROON ENERGY