Horizon Oil Surges 33% on Record Production, Strategic Acquisitions
Horizon Oil Limited has reported its FY26 results, highlighting 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) for the year, driven primarily by the integration of Thailand assets acquired in August 2025 and a controlling stake in Cue Energy Resources obtained in June 2026.
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. Horizon's diversified Asia-Pacific portfolio now spans Thailand, Indonesia, Australia, New Zealand, and China.
The company reported underlying revenue of $107.2 million for FY26, broadly in line with the prior year's $105.3 million, despite a 22% increase in sales volumes to 1.98 MMboe. EBITDAX reached $56.4 million, up from $54.8 million in FY25, while operating cash flow increased 32% to $47.2 million.