Karoon Energy, Australia’s oil and gas company, has revealed the name of its new Managing Director and Chief Executive Officer (MD and CEO), who will step into the role next month.
Karoon’s board, which has appointed Carri Lockhart as its new MD and CEO, effective from November 3, 2025, describes this appointment as a significant leadership transition at a time when the firm is preparing to take over operatorship of the FPSO Baúna and progress its organic growth opportunities in Brazil and the United States, as well as managing key farm-downs and creating value from the strategic exploration acreage in the Southern Santos Basin.
With more than 30 years of experience in the energy industry, most recently at Equinor, Lockhart will succeed Dr. Julian Fowles , who has resigned from the company. She has experience as a member of the management committee for Ascent Resources, a privately held energy company focused on northeast U.S. shale gas.
Commenting on her appointment, Lockhart said: “It’s an honour to be joining Karoon at this pivotal time in the Company’s journey. With low-cost production from two world-class assets, several interesting organic growth opportunities, a potentially significant new exploration play and a sound financial position, Karoonis well placed for an exciting future.
“I look forward to working closely with the Karoon Board, management team and wider Karoon family across Australia, Brazil and the US to implement the Company’s operational and strategic priorities to ensure safe and reliable operations and drive long-term value for shareholders.”
Karoon’s new CEO, who also worked at Marathon Oil Company, has board and governance experience gained through holding non-executive director roles in publicly traded companies within the energy industry, including Williams Companies, a U.S. natural gas processing and transportation company, and Innovex, an oil and gas engineering and manufacturing company.
Peter Botten , Karoon’s Chairman, stated: “We are delighted to announce Carri’s appointment as our new CEO/MD, which follows a comprehensive global search. As a reservoir engineer, Carri has a deep understanding of the oil and gas industry, with considerable experience in managing large scale production assets safely, reliably and efficiently, and maturing and sanctioning development projects. She has worked successfully across multiple countries in diverse operating environments.
“She also has demonstrated skills in building and leading high performing multi-disciplinary management and operating teams, fostering operational excellence, and developing a strong corporate culture. This, together with her extensive board experience and excellent industry connections, make her the ideal person to build on the legacy left by Julian and lead Karoon through its next phase of growth.”