Horizon Oil Surpasses Records as Thailand Assets Fuel Growth
Horizon Oil delivered record production and sales in FY26, producing 2.15 million barrels of oil equivalent (MMboe) and selling 1.98MMboe.
The group's newly acquired Thailand assets lifted output, with the Sinphuhorm and Nam Phong gas fields contributing 654,328 barrels of oil equivalent during their 11 months in Horizon’s portfolio.
Underlying revenue rose 2% to US$107.2 million, while earnings before interest, tax, depreciation, amortisation, and exploration expenditure increased 3% to US$56.4m despite deferred oil liftings that left substantial crude inventory unsold at year-end.
Cash operating costs were maintained at about US$21 per barrel of oil equivalent across the portfolio, while operating cash flow climbed 32% to US$47.2m and statutory profit after tax was US$11.1m.