Karoon Energy stock falls 12.61 percent after guidance cut

Published on 09/28/2026 at 08:14 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Karoon Energy stock traded at AUD 1.56 on the ASX on September 28, 2026, as FY26 output guidance fell to 6.6-7.2 MMboe. First-half revenue reached USD 244.9 million.

Karoon, AU000000KAR6, Illustration mit AI erstellt.

Karoon Energy stock (ISIN AU000000KAR6) fell 12.61 percent to AUD 1.56 on the ASX on September 28, 2026, after the company cut its 2026 production guidance following an electrical fault at the SPS-92 well in Brazil. Capital Brief reported that the revised guidance followed a controlled shutdown and a confirmed fault in the well's newly installed power cable.

Production guidance moves lower

Grafa reported on September 28, 2026, that Bauna production guidance was reduced from 6.0-6.7 million barrels to 5.4-5.7 million barrels. Total 2026 production guidance fell from 7.2-8.2 MMboe to 6.6-7.2 MMboe, while unit cost guidance increased from USD 12-15 per barrel to USD 15-16 per barrel.

The operational issue changes the near-term earnings equation because fewer barrels and higher unit costs affect both volume and margin. Karoon said a rig-based intervention is required to replace the faulty cabling before the well can return to full operation, while insurance may offset part of the revenue loss and repair costs.

First-half figures provide a base

In the first half of 2026, Karoon generated USD 244.9 million in revenue and underlying net profit after tax of USD 29.2 million, according to the company's earnings-call transcript published by Yahoo Finance for the period ended June 30, 2026. The company produced 3.17 MMboe and sold 3.08 MMboe during that half.

The same transcript showed Bauna FPSO efficiency of 97 percent in the second quarter of 2026, while average realized liquids pricing reached USD 80.65 per BOE. Those figures offer operational support, but the September production downgrade puts the second-half recovery plan at the center of the investment case.

Karoon stock trades near its yearly low

Karoon Energy stock was last at AUD 1.56 on the ASX on September 28, 2026, with a session range of AUD 1.53 to AUD 1.62 and volume of 12,503,411 shares. Its 52-week range was AUD 1.25 to AUD 2.26, while market capitalization stood at AUD 1.1 billion on the same date.