Atlanta asset looks like well suited to Karoon.
- Off shore pre salt Santos Basin - Enuata recently took 100% control. They are looking for new partners, to fund production expansion (below).
- Producing 17,000 bbls/ day (Jun '21). 3rd well online August '21 and 4th well Q3'22 boost production to 30,000 bbls /day.
- Long life reserves 2P = 103 million Bbls, with 3P upside (1.3 billion bbls in place.)
- Expanding production from existing Early Production System (EPS) 3 wells to 6-8 wells connected to a new Full Development System (FDS) 50k bpd FPSO by 2024.
- Enauta appears to have similar value-add growth strategy to existing producing assets as Karoon does with Bauna / Patola.
https://api.mziq.com/mzfilemanager/v2/d/58581687-ef6b-4185-99f8-7189e4d08a71/90738cd0-f2db-8cb1-7c54-996539eb50cb?origin=1
Karoon M&A, page-3
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