23 stories mentioning ASX:KARUpdated 6d ago
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Karoon Energy (ASX:KAR) received notice that Commonwealth Bank of Australia (ASX:CBA) and its affiliates became a substantial holder of the company on Wednesday, according to a Thursday filing with the Australian bourse.Commonwealth Bank of Australia now owns 35.9 million shares in the company, representing a 5.03% voting power, the filing said.Karoon's shares rose past 2% in recent Thursday trade.
Karoon Energy (ASX:KAR) said first-quarter total production reached 1.9 million barrels of oil equivalent on a net revenue interest basis, according to a Tuesday Australian bourse filing.The company's 2025 first-quarter production was 2.4 million barrels of oil equivalent on a net revenue interest basis.Total revenue in the three months ended March 31 was $128.2 million, compared with $148.6 million a year earlier.The company reaffirmed its 2026 total production guidance of 8.1 million to 9.2 million barrels of oil equivalent.The company's shares were down nearly 2% in recent Tuesday trade.
Karoon Energy (ASX:KAR) said that Fitch Ratings has affirmed its long-term issuer default rating at "B" while revising the outlook to negative from stable, according to a Monday filing with the Australian bourse.Fitch also reaffirmed the company's $350 million senior secured notes at a "B+" rating, per the filing.The rating reflects the company's low-cost production base, strong liquidity, and absence of near-term debt maturities, but is offset by operational disruptions at key assets and an expected natural decline in production, the filing said.Fitch expects the company to sustain moderate leverage and generate positive free cash flow to meet its obligations, while the negative outlook reflects concerns about production sustainability and the timing of project execution, the filing added.Karoon Energy's shares were down 4% in recent Monday trade.
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