Karoon Ramps Up Bauna Production to 22,000 Barrels a Day
Synopsis
The oil producer has restored output at its Brazilian project after completing repairs to the PRA-2 well's subsea connection.
Key Highlights
- Karoon Energy has ramped up production at its Bauna Project in Brazil to approximately 22,000 bopd.
- The SPS-92 well is producing about (8,600 bopd).
- Production at all wells in the Bauna Project has returned to normal.
Production at the Bauna Project in Brazil has been ramped up to about 22,000 barrels of oil per day (bopd) after Karoon Energy (ASX: KAR) returned its PRA-2 well back to production.
Part of the increase in production was due to a significant contribution (~8,600 bopd) from the SPS-92.
PRA-2 Well Returns to Production
The output increase comes as the PRA-2 well's subsea umbilical is reconnected to the floating production vessel The well was brought back online on 6 July, after an unexplained disconnection last October. This is still being cleaned up at present and flows between 1,000-1,200 bopd.
Now Fully Activated Production Bauna Wells
Karoon said 100% of production wells at the Bauna Project are operational and in line with expectations, consistent with the company's strategy to maintain a robust production profile for capital-efficient cash flows into H226.
In an update, chief executive Carri Lockhart commented that the company’s low-cost base, favourable operating break-even and production profile means Karoon is uniquely placed to continue to generate strong cash flow margins, strengthen its balance sheet and fund disciplined capital allocation and long-term shareholder value creation.
Source: Capital Brief
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