Highlights

  • Horizon Oil Ltd (ASX:HZN) traded at AUD 0.22, up 2.27% during the morning session on 12 August 2026, with shares remaining up 7.14% over the past year.
  • The company reported record FY26 net production of 2.15MMboe, with current production of approximately 7,300 boepd.
  • Horizon’s enlarged portfolio includes 13.61MMboe of 2P reserves and 19.81MMboe of 2C contingent resources.
  • The company operates across five countries with nine production Assets across Thailand, Indonesia, Australia, New Zealand and China.
  • Horizon outlined multiple near-term opportunities across drilling, development, optimisation and infrastructure-led projects.

Horizon Oil Ltd (ASX:HZN) was trading at AUD 0.22, up 2.27% during the morning session on 12 August 2026, with shares remaining up 7.14% over the past year. The company has released its August 2026 corporate overview, highlighting its expanded Asia-Pacific oil and gas portfolio, record FY26 production and a pipeline of development and optimisation opportunities across its assets.

Following the completion of its Acquisition of Cue Energy Resources Limited (ASX:CUE) on 2 July 2026, Horizon has expanded its portfolio across five countries, adding further exposure across Australia, Indonesia and New Zealand assets.

Expanded Portfolio Supports Larger Production Base

Horizon Oil now holds interests across nine producing assets located in Thailand, Indonesia, Australia, New Zealand and China.

The company reported record FY26 net production of 2.15 million barrels of oil equivalent (MMboe), with current production reaching approximately 7,300 barrels of oil equivalent per day (boepd) in August 2026.

The portfolio includes oil and gas assets such as Thailand’s Sinphuhorm and Nam Phong gas fields, Indonesia’s Mahato and Sampang assets, Australia’s Mereenie, Palm Valley and Dingo fields, New Zealand’s Maari oil project and China’s Block 22/12 oil project.

Horizon reported 2P reserves of 13.61MMboe and 2C contingent resources of 19.81MMboe as at 30 June 2026.

FY26 Performance Highlights Cash Generation Focus

Horizon’s corporate overview highlighted FY26 Revenue of approximately US$105 million, supported by production across its portfolio.

The company reported annual EBITDAX of approximately US$55 million to US$70 million and highlighted historical distributions of more than AUD270 million over the past six years.

At 30 June 2026, Horizon held cash reserves of US$37.4 million after paying a US$17 million Interim Dividend in April and reducing Debt during the final quarter.

The company stated that Capital allocation remains focused on Shareholder returns and selective reinvestment into portfolio opportunities.

Thailand Assets Provide Gas Production Opportunities

Thailand remains an important contributor to Horizon’s portfolio, with interests in the Sinphuhorm and Nam Phong gas fields.

The company reported that Thailand operations delivered Cash Flow during FY26, with Q4 net production of approximately 1,912 boepd.

Horizon highlighted several near-term initiatives, including the Nam Phong booster compression project, Sinphuhorm Pad D tie-in activities and a potential 2027 infill drilling program at Sinphuhorm.

The company said existing infrastructure, including processing facilities, pipelines and power connections, supports ongoing development opportunities across the assets.

Indonesia Portfolio Includes Mahato Growth Activities

In Indonesia, Horizon has exposure to the Mahato and Sampang production sharing contracts.

At Mahato, two infill wells have been approved at the Bekasap field, with the first infill well PB-41 spudded in July 2026. The company is also progressing planning and approvals for the GA-1 exploration well and a Phase 3 development plan targeting further drilling opportunities.

Horizon’s Sampang asset continues to Supply domestic gas, with a compression project expected to support production and recoveries until the existing production sharing contract expiry in December 2027.

Australian Gas Platform Provides Long-Term Opportunities

Horizon’s Australian assets in the Amadeus Basin include Mereenie, Palm Valley and Dingo.

The company highlighted its domestic gas platform supported by existing infrastructure and contracted gas arrangements.

At Palm Valley, the PV14 appraisal well was spudded on 25 July 2026, with the program designed to evaluate additional gas resources and support contracted gas supply.

Horizon is also progressing a development review at Mereenie to assess future well locations and Demand opportunities.

Oil Assets Continue Optimisation Programs

Horizon’s Maari oil project in New Zealand remains a contributor to its offshore oil portfolio.

The company holds an approximately 28.9% effective interest in Maari and highlighted ongoing reservoir management activities, including water injection and workover programs.

In China, Horizon’s Block 22/12 oil project continues to provide production and cash flow support. The company is progressing optimisation activities, including water-handling improvements, targeted workovers and studies related to potential WZ12-8E Phase 2 development.

Future Growth Pipeline Across Existing Assets

Horizon has outlined a range of medium-term opportunities across its enlarged portfolio, including infill drilling, appraisal wells, exploration activities, infrastructure upgrades and potential field extensions.

The company’s indicative development pipeline includes activities across Thailand, Indonesia, Australia, New Zealand and China, subject to technical evaluation, joint venture approvals, regulatory approvals and economic assessment.

Horizon said its strategy remains focused on infrastructure-led opportunities, production optimisation and disciplined capital allocation.

Investor Takeaway

Horizon Oil’s latest corporate overview highlights the company’s expanded five-country Asia-Pacific production portfolio following the Cue acquisition, alongside record FY26 production and an increased reserves and resources base.

With current production of approximately 7,300 boepd, multiple development opportunities and ongoing optimisation programs across existing assets, investors may continue monitoring production performance, capital allocation decisions and progress across the company’s near-term project pipeline.