Horizon Oil Provides Oil Hedging Update
Key points
- Horizon has put in place oil hedging volumes to mitigate impact of oil price volatility
- 180,000 bbls of dated Brent swaps at $71/bbl, covering May 2025 to Dec 2025
- Majority of Mereenie gas production sold under fixed price contracts
Full summary
Horizon Oil Limited has advised that it has progressively put in place oil hedging volumes over recent months to mitigate the impact of oil price volatility on its corporate cashflows. The company currently has in place a total of 180,000 bbls of dated Brent swaps at a weighted average price of approximately US$71/bbl. This includes 110,000 bbls covering May 2025, aligned with the next forecast Maari and Block 22/12 oil liftings, and a further 70,000 bbls covering the period from June to December 2025. The company also advises that the majority of its Mereenie gas production is currently sold under fixed price gas contracts, and is therefore not materially impacted by near-term volatility in commodity prices.
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