Karoon Energy Ltd · ASX:KAR
Karoon Energy — Non-Deal Roadshow (November 2023)
21 slides from Karoon Energy's roadshow presentation, Nov 27, 2023
Slide 1: Macquarie UK Presentation ASX cover letter
27 November 2023 Company Announcements Office ASX Limited Dear Sir / Madam For personal use only Macquarie UK Presentation Enclosed is a presentation that is to be made by the CEO and Managing Director tomorrow. This announcement was authorised by the CEO and Managing Director. Yours faithfully Dani
Slide 2: Karoon Energy Macquarie UK Roadshow
For personal use only Karoon Energy Macquarie UK Roadshow November 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 Oil production offshore Brazil, recent acquisition in US Gulf of Mexico and material organic growth opportunities Interests in Who Dat, Interests in two world class oil and gas basins: Dome Patrol and adjacent acreage in For personal use only 100% owner/operator of high qua
Slide 5: Delivering results and advancing strategy
Delivering results and advancing strategy Major production increase in FY23, maturing growth opportunities Completed Baúna intervention campaign and Patola development safely, on time and within For personal use only budget. Resulted in 52% production increase and 70% higher underlying NPAT Two succ
Slide 6: Trading Update strong performance
Trading Update strong performance First full quarter of Baúna production post interventions & Patola For personal use only Higher production & Advancing growth Progress on sustainability Strong balance sheet revenue in Sept Q 23 strategy objectives Sept Q sales revenue US$203.9 Progressed Neon subsu
Slide 7: BM-S-40: Baúna, Patola and Piracaba
BM-S-40: Baúna, Patola and Piracaba Interventions and Patola delivered safely, on time and within budget BM-S-40 Baúna intervention campaign and Patola development completed during FY23 For personal use only PRA-1 Personal safety improved on FY22 and no material environmental SPS-93 SPS-57 SPS-92 in
Slide 8: Baúna operating performance
Baúna operating performance Focus on safety and reliability Quarterly Production (MMbbl) Production shut-in for 3.0 Baúna six weeks due to gas leak Highest priority is maintaining a safe and healthy work environment, intervention and minimising environmental impact For personal use only 2.5 complete
Slide 9: Possible FPSO Life Extension Projects
Possible FPSO Life Extension Projects Studies ongoing on extending Baúna Project life (i) from 2028 to end 2032 (beyond current A&O lease) and (ii) potential extension from 2033 to 2038 (subject to contractual negotiations) For personal use only Booked 1C, 2C and 3C Contingent Resources of 10.5 MMbb
Slide 10: Organic Growth: Potential Neon development
Organic Growth: 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 Ne
Slide 11: Neon foundation project concepts under consideration
Neon foundation project concepts under consideration Stand-alone FPSO or subsea tieback Concept 1 Standalone FPSO Development Concepts being evaluated include: Standalone FPSO development S-M-1037 For personal use only New build or conversion / redeployed unit Subsea tie-back: Neon Neon field tied b
Slide 12: Neon hub-style development
Neon hub-style development Possible longer-term opportunities 2C Contingent Resources and 2U Prospective Resources of >100 MMbbl in Neon area: For personal use only Undrilled Neon West prospect located 2km west of Neon. Potentially part of Foundation Project. Structurally and stratigraphically analo
Slide 13: Acquisition of Who Dat assets in Gulf of Mexico
Acquisition of Who Dat assets in Gulf of Mexico Compelling value proposition Karoon to acquire 30% interest in offshore Who Dat and Dome Patrol Acquisition consideration of US$720m 5 funded by cash, debt and a For personal use only oil and gas fields, associated infrastructure and adjacent explorati
Slide 14: High margin production asset
High margin production asset Material growth underway, with development and exploration upside Location Mississippi Canyon, US Gulf of Mexico (offshore Louisiana, ~800m water US Gulf of Mexico Mississippi Canyon, United For personal use only depth) States Current production rate 1 ~42,000 boepd gros
Slide 15: Transformational impact
Transformational impact Material increase in Reserves, Resources and production CY24E Production Guidance 2P Reserves (MMboe) 1 2C + 2U Resources (MMboe) 1,4 (MMboe) 2,3 For personal use only Oil Gas 2C 2U Guidance range Potential conversion of 5.6 MMboe (NRI) of 2C Resources to 2P Reserves followin
Slide 16: 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 and meet capital commitments including debt repayments Non-discretionary capital spend Capital a
Slide 17: Sustainability
Sustainability Focus on carbon emissions, social projects Scope 1 and 2 GHG emissions for FY22 1 fully offset by VER Agreement with Shell Western Supply and Trading. Anticipate being Carbon Neutral 1 for For personal use only FY23, aiming for Net Zero2 by 2035 Target for being carbon neutral and Net
Slide 18: Summary
Summary Focus on creating shareholder value Significant progress on delivering strategic objectives For personal use only Focus on maintaining safe, reliable and sustainable operations, with integrity of Baúna FPSO a high priority US GoM acquisition is transformational, adding high margin, long term
Slide 19: Appendix 1: Guidance
Appendix 1: Guidance 1 Proforma CY24 12 months to Period BASIS OF GUIDANCE 31 Dec 24 For personal use only Low High 1. Production 2 Brazil MMboe 8.0 10.0 2. Production assumes drilling results and expected future development and appraisal projects being delivered in Who Dat (NRI) MMboe 4.0 4.5 accor
Slide 20: Appendix 2: Glossary
Appendix 2: Glossary Term Definition ASX Australian Securities Exchange Baúna Concession BM-S-40 containing the producing Baúna, Piracaba and Patola light oil fields in Brazil. For personal use only Boe Barrel of oil equivalent Boepd Barrels of oil equivalent per day bbl or barrel Barrel of oil = 42
Slide 21: Karoon Energy
For personal KAROON ENERGY