Key points
- Completion of Baúna 1H26 investment campaign.
- 1H26 sales revenue of US$244.9 million, underlying EBITDAX of US$129.7 million.
- Interim dividend declared of AUD 1.2 cents per share fully franked.
- Who Dat East Final Investment Decision approved.
- Decision on Neon FEED expected in 4Q26.
Full summary
Karoon Energy Ltd. completed a major investment campaign at Baúna, enhancing future operations and positioning the company for a stronger second half. The company reported a 1H26 sales revenue of US$244.9 million, underlying EBITDAX of US$129.7 million, and underlying net profit after tax of US$29.2 million. An interim dividend of AUD 1.2 cents per share, fully franked, was declared, payable on 30 September 2026. The Who Dat East Final Investment Decision was approved on 12 August 2026, and the company is progressing well with the potential development of Neon, with a decision on entering the Front-End Engineering and Design (FEED) phase expected in 4Q26.
Guidance
CY26 guidance includes Who Dat East Development 2H26 capex of US$15 - 20 million.
Outlook
Karoon Energy Ltd. is entering the second half of the year in a strong position, with a low-cost asset base, restored production at Baúna, and a robust balance sheet. The company aims to ensure safe, reliable, and efficient operations, mitigate natural decline, advance growth opportunities, and maintain capital discipline.