Karoon Energy Ltd (ASX: KAR) announced on 16 June 2026, a revision to its calendar year 2026 production guidance, primarily due to operational delays at its Who Dat Joint Venture in the United States. Karoon Energy Ltd. is an international oil and gas exploration and production company with assets in Brazil, the United States of America and Australia, listed on the ASX. The company stated that the operator of the Who Dat Joint Venture, LLOG Exploration Company, L.L.C., has advised that the reinstatement of production through the Who Dat E manifold will now not occur in 2026.
LLOG has further informed Karoon that a remediation plan is being developed to restore the deferred production, which includes the removal of the failed riser, currently scheduled for the third quarter of 2026. Subject to laboratory analysis, the E manifold production is anticipated to be restored in the second half of 2027. Currently, Who Dat is producing at approximately 3,000 (NRI) barrels of oil equivalent per day. Despite these challenges, production from the A-1 ST well remains on track to commence by mid-year, and G-1 ST well operations are planned for the fourth quarter of 2026, pending final approvals for acceleration.
As a direct consequence of the Who Dat operational issues, Karoon’s CY26 Who Dat production guidance has been revised downwards to 1.2 to 1.5 (NRI) MMboe, from the previous forecast of 2.1 to 2.5 (NRI) MMboe. Consequently, total production guidance for CY26 has been adjusted to 7.2 to 8.2 MMboe, a decrease from the earlier range of 8.1 to 9.2 MMboe. Karoon’s Brazil production guidance remains unchanged. Separately, the SPS-92 and PRA-2 intervention programs at Baúna have experienced mechanical issues and weather delays, but these works are proceeding, with both wells still expected online around mid-year. Karoon is also currently reviewing and optimising its overall 2026 investment expenditure commitments across its Baúna, Who Dat, and other projects.
