2312 GMT - Karoon Energy's acquisition of six blocks in Brazil's Santos Basin is the latest positive catalyst for its stock. Citi thinks more are to come. Analyst Tom Wallington expects news soon on the outcome of so-called debottlenecking studies at the Who Dat operation in the Gulf of Mexico. This will help to determine whether Karoon makes a final investment decision on either Who Dat East or Who Dat South next year. "We also expect Karoon to announce the award of an Operation and Maintenance contract for the recently acquired FPSO at Bauna," says Citi, referring to Karoon's flagship operation in Brazil. Moreover, the bank expects a final investment decision for the nearby Neon project by early 2026. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
June 18, 2025 19:13 ET (23:13 GMT)
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