0022 GMT - Karoon Energy's shares rise 4.5% after it clinched a US$115 million cash deal to buy the floating production storage and offloading vessel at its Bauna oil field in Brazil. Among those happy with financial terms is Citi. It thinks buying the FPSO means output at Bauna can continue for longer, helping Karoon to convert more of its resources there to proven and probable reserves. That would boost its earnings per share, analyst James Byrne says. Citi has a buy call on Karoon. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 26, 2025 19:22 ET (00:22 GMT)
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