Karoon Energy Ltd (AU:KAR) has released an update.
Karoon Energy Ltd reported a record net profit of US$144.7 million for a six-month transitional period in 2023, marking the company’s highest production and sales volumes in its history. The period was highlighted by a strategic acquisition in the US Gulf of Mexico, which diversified the company’s asset base and promises sustainable shareholder returns. Despite operational challenges leading to production guidance downgrades, Karoon remains focused on safety and operational improvements to enhance performance in the latter half of 2024.
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