Horizon Oil Ltd Quarterly Activities Report
Key points
- Record FY26 production and sales up 33% and 22% respectively
- Completed off-market takeover of Cue, increasing production by 15%
- Strong operating cash flow of US$23.6 million for the quarter
Full summary
Horizon Oil Ltd announced record production and sales for FY26, with a 33% increase in production and a 22% increase in sales. The company achieved quarterly production of 541,811 boe, generating revenues of US$34.7 million and net operating cash flow of US$23.6 million. The completion of the off-market takeover of Cue increased production by 15% and net 2P reserves by over 20%. The company maintained a strong balance sheet with cash reserves of US$37.4 million and a net debt position of US$11.3 million. The CEO highlighted the strategic value of the company's assets in the current global energy backdrop.
Guidance
Record FY26 production and sales, FY26 production 2.15 MMboe, FY26 sales 1.98 MMboe
Outlook
The company expects continued growth in FY27 with multiple production enhancement and development projects scheduled to deliver growth over the next six months.
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