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Horizon Oil Suspends Mereenie Infill Drilling, Cuts 2026 Capex by USD 5 Million
9:44am on Monday 13th of April, 2026 AEST
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Energy
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Horizon Oil Suspends Mereenie Infill Drilling, Cuts 2026 Capex by USD 5 Million
9:44am on Monday 13th of April, 2026 AEST
Key Points
Expiry of LOI with Power and Water Corporation halts new gas sales agreement
Existing gas supply contract remains valid through 2030
Planned drilling of two infill wells suspended, reducing 2026 capex by USD 5 million
Joint Venture retains flexibility to resume drilling if market conditions improve
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