Horizon Oil (HZN) Q2 2026 TU earnings summary

Executive summary

• Achieved an 18% increase in production and 17% rise in sales volumes quarter-over-quarter, driven by the first full quarter of Thailand asset contributions and strong legacy asset performance.

• Paid a final FY25 dividend, bringing five-year cumulative distributions to over A$250 million.

• Seamless integration of Thailand assets and strong partner collaboration supported operational and financial results.

Financial highlights

• Production revenue rose 2.7% quarter-over-quarter to US$27.4 million, with Thailand assets contributing over US$6 million.

• Calendar year production revenues totaled US$102.6 million.

• Net operating cash flow for the quarter was US$15.8 million.

• Cash reserves stood at US$35.6 million at quarter-end, with net debt at US$9.8 million after dividend payment.

• Group cash operating costs remained around US$20/boe, supported by low-cost Thailand production.

Outlook and guidance

• Binding LOI signed to supply uncontracted Mereenie gas through 2034, supporting drilling of two new infill wells.

• Nam Phong Booster Compressor FID reached, expected to boost field production by at least 40% from mid-2026.

• Ongoing feasibility studies for further development at WZ12-8E field in China.