Karoon Energy Ltd (OTCMKTS:KRNGF – Get Free Report) shares dropped 1.6% during trading on Friday . The stock traded as low as $1.24 and last traded at $1.24. Approximately 400 shares traded hands during trading, a decline of 85% from the average daily volume of 2,650 shares. The stock had previously closed at $1.26.
Karoon Energy Stock Down 1.6%
The stock’s fifty day moving average is $1.11 and its 200-day moving average is $1.12.
Karoon Energy Company Profile
Karoon Energy is an Australian-based oil and gas exploration and production company with a strategic focus on deepwater offshore Brazil. Headquartered in Perth, the company maintains regional offices in Houston and Rio de Janeiro to support technical and commercial operations. Since its establishment in 2005, Karoon has transitioned from onshore Australian projects to build a high-potential portfolio in the prolific Santos and Campos basins.
The company’s flagship asset is its interest in the Sépia oil province in the Santos Basin, which commenced production in late 2020.
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