Karoon Energy: Earnings
Karoon Energy delivered a strong December half result, with solid earnings and cash flow. Dec-Half underlying EBITDA of US$283, +61% year-over-year.
The company continues to execute its objectives and growth strategy.
Karoon Energy
Karoon Energy has the correct trade setup and the stop loss will go at at the higher low formation.
Karoon Energy
Karoon Energy is a new entry in the ASX 200 Trade Table
Who Dat acquisition enables Karoon’s entry to US Gulf of Mexico (US GoM) & provides asset diversification. We factor in KAR’s acquisition at $720m equity raising (US$300m) and debt drawdown (US$274m). The acquisition now presents an opportunity for investors.
The Who Dat oil and gas field is located in Mississippi Canyon (MC) blocks 503 / 504 / 547 in
the Gulf of Mexico (GOM) in water depths of 945m. Who Dat was discovered in late 2007,
and has been in production since 2011. Who Dat is made up of numerous stacked reservoirs
of Pliocene & Miocene age. Producing reservoirs are located at depths of 10,000ft-17,000ft.
Oil is sold into the Mars pipeline (operated by Shell), while gas is sold into the Canyon Chief
pipeline (operated by Williams).
Level 29 Chifley Tower
2 Chifley Square
Sydney, NSW 2000
1300 614 002
Investor Signals Pty Ltd
ABN 44 143 555 453
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