Horizon Oil Surges 33% on Record Production and Strategic Acquisitions
Horizon Oil reported its FY26 results on August 27, 2026, showcasing a transformative year marked by record production and strategic acquisitions. The company's production surged 33% to 2.15 million barrels of oil equivalent (MMboe), driven primarily by the integration of Thailand assets acquired in August 2025 and a controlling stake in Cue Energy Resources obtained in June 2026.
The company's diversified Asia-Pacific portfolio expanded through two significant transactions during the year, with Horizon now operating in five countries: Thailand, Indonesia, Australia, New Zealand, and China. Despite delivering strong operational metrics, shares slipped 2.13% to $0.23, leaving the stock near the lower end of its 52-week range of $0.19 to $0.295.
The company maintained cash operating costs below $25 per barrel of oil equivalent, with actual costs coming in around $21/boe according to management commentary. Horizon's presentation outlined its strategy across three core pillars: maximizing cash flow, reinvesting for growth, and returning capital to shareholders.