0054 GMT - Macquarie stays cautious about Karoon Energy following its 1Q performance, saying its ability to achieve annual production guidance is at risk. Karoon's average 1Q production rate at the Bauna oil field in Brazil was some 7% below that of the previous three months. Karoon recently took the field offline for scheduled maintenance lasting nearly a month. It also signaled a later resumption to full production from the Who Dat operation in the U.S. than previously thought. "While oil prices have been boosting cash flows, a recovery in operational momentum may be necessary for a re-rating," says Macquarie. It retains a neutral call on the stock. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
April 28, 2026 20:54 ET (00:54 GMT)
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