Latest Horizon Oil (ASX:HZN) News

Horizon Oil Limited reported a 13% increase in production for FY25, driven by the Mereenie acquisition and infill drilling success, while completing a transformative acquisition of Thailand assets. Despite softer oil prices, the company declared a final unfranked dividend, underscoring robust cash flow and strategic growth.

Horizon Oil and its partners have secured a ten-year extension for the Maari oilfield permit in New Zealand, enabling continued production and strategic planning through 2037. This comes as the field hits its highest output in over five years.

Horizon Oil has completed the acquisition of significant stakes in two producing gas fields in Thailand, marking a strategic re-entry into the country and expanding its production footprint. The deal adds low-risk, cash-generative assets with long-term contracts, supporting Horizon’s growth and distribution plans.

Horizon Oil has completed its acquisition of significant interests in two producing gas fields in Thailand, adding 2,100 barrels of oil equivalent per day to its portfolio and expanding its footprint in Southeast Asia.

Horizon Oil reports a 9% decline in net Proved and Probable reserves to 9.0 million barrels of oil equivalent, offset partially by a life extension at Maari. A significant acquisition in Thailand is set to materially increase reserves in the near term.

Horizon Oil has reached financial close on a US$21.5 million amended senior debt facility with Macquarie Bank, paving the way for its strategic acquisition in Thailand. The facility enhances funding capacity for existing assets and supports future development plans.

Horizon Oil has finalized amendments to its senior debt facility with Macquarie Bank, enabling the acquisition of significant gas assets in Thailand that will add approximately 2,000 barrels of oil equivalent per day to its production.

Horizon Oil has commenced production from its newly drilled A9H infill well in China’s Beibu Gulf, revealing an unanticipated oil reservoir that could boost future output.

Horizon Oil reported steady Q3 FY25 production and cash flow, paid its fifth consecutive interim dividend, and announced a strategic acquisition in Thailand that promises to boost production and diversify its asset base.

Horizon Oil’s latest quarterly report reveals a significant production uplift at the Mereenie field following successful infill drilling, alongside steady cash flow and a strong balance sheet heading into 2025.

Horizon Oil has successfully completed the WM29 well and commenced drilling WM30 in the Mereenie Development Program, aiming to boost gas production and meet new Northern Territory gas sales commitments.