Karoon Energy Ltd (AU:KAR) has released an update.
Karoon Energy Ltd. reports a robust 18% increase in production for the March 2024 quarter, achieving 3.11 MMboe, despite lowered production guidance for the year due to Who Dat’s underperformance. Sales revenue for the quarter slightly fell to US$196.6 million with a strategic shift to prioritize oil over gas in response to low gas prices. Additionally, the company is advancing the Neon Foundation Project into the next phase of development and preparing to drill new wells off the Gulf of Mexico.
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