Karoon Energy Updates Baúna SPS-92 Production and 2026 Guidance
Key points
- SPS-92 production restored at Baúna, achieving 8,600 bopd
- Total Baúna production now at 20,500 bopd
- Further production increase expected with PRA-2 well
- 2026 Baúna capex guidance increased due to SPS-92 intervention costs
- CEO confident in strong cash flow generation for the second half of 2026
Full summary
Karoon Energy Ltd. announced the successful restart of production at the Baúna SPS-92 well, following a well intervention to replace the electrical submersible pump (ESP). The well is now producing at a rate of 8,600 barrels of oil per day (bopd), bringing the total Baúna Project production to approximately 20,500 bopd. A further production uplift of 1,000-2,000 bopd is expected once the PRA-2 well is reconnected. The company has also updated its 2026 investment expenditure estimates, with Baúna capex guidance increasing due to higher intervention costs for SPS-92. Despite this, Karoon expects lower sustaining capital requirements at Baúna over the next few years.
Guidance
2026 Baúna capex guidance increased to $89-97 million due to higher SPS-92 intervention costs.
Outlook
Karoon expects materially lower sustaining capital requirements at Baúna over the next few years, with strong cash flow generation anticipated in the second half of 2026.
Summary generated by a large language model. Please interpret with care.