Highlights:

  • Horizon Oil was trading at AUD 0.24, up 2.17% during the morning Trading session on 19 August 2026.
  • The Sinphuhorm Pad D Facility Project in Thailand achieved first gas on 11 August 2026, around 50 days ahead of schedule.
  • The PH-14 well produced gross gas rates of 25–30 million standard cubic feet per day during performance testing.
  • The facility has completed its 72-hour performance test and transitioned into normal operations.
  • Pad D is expected to support further optimisation of Horizon’s Thailand gas asset portfolio.

Horizon Oil Limited (ASX:HZN) has achieved first gas from the Sinphuhorm Pad D Facility Project in Thailand, marking the commencement of operations from new production infrastructure within its Thailand gas asset portfolio.

Horizon Oil was trading at AUD 0.24, up 2.17% during the morning trading session on 19 August 2026, while the company’s shares remained up 11.90% over the past year. The company’s latest update outlined progress at the Pad D facility, including completion of commissioning activities and initial production performance.

Sinphuhorm Pad D Achieves Early First Gas Milestone

Horizon announced that first gas from the Pad D Facility Project was achieved on 11 August 2026, approximately 50 days ahead of schedule.

Following first gas, commissioning activities progressed as planned, with the facility successfully completing a 72-hour performance test. During the test period, the PH-14 well produced gross gas rates ranging between 25 and 30 million standard cubic feet per day (MMSCFD).

The facility has since transitioned into normal operations.

Pad D Targets Northern Sinphuhorm Gas Resources

The Pad D development forms part of Horizon’s ongoing optimisation and expansion of production infrastructure within its Thailand gas portfolio.

Located at the northernmost extent of the Sinphuhorm field, Pad D provides access to an area of the field that has historically been less effectively drained. Horizon expects this area to contain a proportion of the field’s remaining recoverable gas resources.

The facility is designed to support production from multiple wells, including PH-14 and the recently recompleted PH-01ST1 well.

Existing Infrastructure Supports Future Production

The PH-01ST1 well is the original Sinphuhorm discovery well, drilled in 1983, and is expected to be brought online in the near term.

Horizon stated that the Pad D facility is expected to enhance field productivity, maximise utilisation of existing infrastructure and support continued domestic energy Supply into the Thai market.

Gas produced from the Sinphuhorm field is supplied under long-term gas sales contracts with oil-linked pricing.

Horizon holds an effective 7.5% interest in the Sinphuhorm gas and condensate field.

Management Highlights Project Execution

Horizon Oil Chief Executive Officer Richard Beament said achieving first gas ahead of schedule and completing performance testing reflected the planning and execution of the project team.

Mr Beament highlighted the initial PH-14 testing results, with production rates of 25–30 MMSCFD, as providing an indication of the potential contribution from the Pad D development.

He also acknowledged the role of operator PTTEP and project participants in delivering the facility transition safely and progressing additional production infrastructure for the northern area of the field.

Thailand Gas Portfolio Development Continues

The Pad D facility represents an additional development within Horizon’s Thailand operations, with the company focused on improving production capability from existing assets.

The development is intended to support continued access to remaining recoverable gas resources within the Sinphuhorm field while using existing infrastructure and long-term sales arrangements.

Horizon will continue monitoring the contribution of the Pad D development to production from the asset.

Investor Takeaway

Horizon Oil’s latest update highlights the commencement of production from the Sinphuhorm Pad D Facility Project after achieving first gas ahead of schedule.

Investors may continue monitoring production performance from PH-14, the planned addition of PH-01ST1, and the ongoing contribution of the Pad D development to Horizon’s Thailand gas portfolio.