Karoon Energy (ASX:KAR) downgrades FY24 production guidance to 10.1–10.3 MMboe, here’s why.

Mon 23 Dec 24, 03:43 AM | Team Kalkine

Image source: Shutterstock

Highlights

Karoon Energy Limited (ASX:KAR) is an ASX-listed oil and gas exploration and production firm that operates across Australia, Brazil and the United States.

In the third quarter of the financial year 2024 (3QFY24), the company recorded 28.94% YoY drop in its sales revenue to USD 144.90 million and 24% YoY decrease in sales volume to 2.06MMboe, driven by the timing of liftings with a cargo in transit at the end of the quarter.

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