Karoon Energy Ltd · ASX:KAR
Karoon Energy — Macquarie Australia Conference 2023
14 slides from Karoon Energy's conference presentation, May 2, 2023
Slide 1: Macquarie Australia Presentation (ASX cover letter)
2 May 2023 Company Announcements Office ASX Limited Dear Sir / Madam For personal use only Macquarie Australia Presentation Enclosed is a presentation that is to be made by the CEO and Managing Director tomorrow at the Macquarie Australia conference. This announcement was authorised by the CEO and M
Slide 2: Karoon Energy – Macquarie Australia Conference May 2023
For personal use only Karoon Energy Macquarie Australia Conference May 2023
Slide 3: Disclaimer
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 pr
Slide 4: Overview of Karoon Energy
Overview of Karoon Energy Focus on oil offshore Brazil, and organic and inorganic growth 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, 55 MMbbl 2P reserves1 Building reputation as
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 Clorita Itajai Production and Development Blocks Exploration Blocks Fields and Discoveries 50km Prospects 4
Slide 6: Recent Progress
Recent Progress Growth activities delivered on time and within budget For personal use only Strong YTD operational Delivery of growth Sustainable operations Robust balance sheet and financial results (9 activities First Sustainability Report released At 31 March 2023: months) Baúna intervention and
Slide 7: BM-S-40: Baúna, Patola and Piracaba
BM-S-40: Baúna, Patola and Piracaba Baúna interventions and Patola development delivered on time and budget BM-S-40 Baúna intervention campaign completed in Sept 2022. Initial incremental production of >11,000 bopd (vs targeted 5,000 – 10,000 bopd). Peak production of >25,000 bopd For personal use o
Slide 8: Works progressing on FPSO
Works progressing on FPSO Production scheduled to resume in May Production suspended on 28 March1 following loss of gas containment incident associated with high pressure flare on FPSO, Cidade de Itajaí For personal use only Source of gas leak and repairs completed within two days Production suspend
Slide 9: Potential Neon development
Potential Neon development Control wells drilled below budget and have reduced subsurface uncertainty First Neon control well, Neon-1, on flank of structure, reached TD of 2,382m MD on 10 February 20232 : For personal use only 25m net pay interpreted, within pre-drill expectations 57m core acquired
Slide 10: Revised FY2023 guidance
Revised FY2023 guidance1 As at 27 April 2023 Half-Year Q3 Full Year FY2023 Guidance 22/2/23 27/4/23 For personal use only NOTES: PRODUCTION (MMBBL) 7.5 - 9.0 7.0 - 7.7 1. Guidance is subject to various risks (including those “Key Risks” set out in Karoon’s 2022 Annual Report). COSTS 2. Unit Producti
Slide 11: Sustainability
Sustainability Focus on carbon emissions, social projects FY2023 Scope 1 emissions impacted by Noble Developer drilling rig and For personal use only associated support vessels. Expected to decrease significantly following departure of rig in March 2023 Scope 1 and 2 GHG emissions from FY20221 will
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 and disciplined screening process used, with key criteria including: Value accretive, with ac
Slide 13: Summary and Outlook
Summary and Outlook Focus on creating shareholder value Significant progress on delivering strategic objectives For personal use only Baúna intervention program, Patola development and Neon drilling activities all delivered on time and within budget Initial production rates above expectations Produc
Slide 14: Appendix 1: Baúna reserves and resources
Appendix 1: Baúna reserves and resources1 Oil reserves at 31 December 2022 (MMbbl) For personal use only BM-S-40 (Baúna, Piracaba and Patola) 1P 2P 3P Compared to 30 June 2022, reserves at 31 December 2022: Developed2 30.9 38.6 45.3 1P +6.3 MMbbl Undeveloped3 11.9 16.4 20.2 2P +10.2 MMbbl Total 42.8