Horizon Oil Limited (ASX:HZN www.horizonoil.com.au) is an ASX-listed petroleum exploration and production company, with a geographic focus on the Asia-Pacific region.
The company currently produces over 4,000 barrels of oil per day net from its fields in New Zealand and China, which generated over US$80 million in net operating income after operating expense for the year ended 30 June 2015. Further development candidates remain in and around these producing fields.
Horizon Oil maintains prudent policies of oil price hedging and loss of production insurance to ensure that sufficient cash flow is generated to meet the funding requirements of its growth program.
The company holds a large undeveloped reserves and contingent resource position in Western Province, onshore Papua New Guinea. These are liquids-rich gas resources and reflect Horizon Oil’s strategy to focus on Asian gas for growth. Gas constitute about 2/3 of the reserves and resource base. Commercialisation pathways for the gas are emerging.
Although Horizon Oil anticipates continuing strong cash generation over the medium term from its existing producing fields, these developed reserves account for only 10% of total reserves and resource base. The focus going forward will be on new field development, funded largely from existing production cash flow.
Latest Media Releases
18/12/2015 12:08:00
Horizon Oil is pleased to advise that the WZ12-10-2 field, located in the Weizhou 12-8 Fields Area of Block 22/12, Beibu Gulf, People’s Republic of China, has commenced production. The WZ 12-…
18/12/2015 09:53:00
Please find attached the media release from OMV New Zealand, operator of Horizon Oil’s Maari/Manaia field regarding the upgrade of the FPSO mooring system.
The work, which will…
Latest News
Market Reports /
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4 years ago
28 Feb 2020 - The ASX200 plunged at the open and has seen another sell-off throughout the day which dragged the index 3.3 per cent lower. The Australian dollar also hit a new 10 ye…
Market Reports /
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28 Feb 2020 - The Australian share market plunged at the open this morning, as the global sell-off continues, and is now tracking 2.8 per cent lower at noon. Horizon Oil (ASX:HZN) …
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10 Feb 2020 - The Australian share market opened weaker this morning, dropped in the first hour of trade and rebounded over the afternoon to close 0.1 per cent lower. Oil continued…
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Interviews /
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18 Apr 2017 - Horizon Oil (ASX:HZN) CEO and Managing Director, Brent Emmett, talks about production, highlights from its 1H17 results and outlook.
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17 Jul 2015 - ASX set for slightly higher start. Speculation mounts Horizon Oil Limited (ASX:HZN) may have caught the eyes of suitors.
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12 Mar 2015 - The plunging oil price may have forced energy players to revise capital expenditure but has also sparked opportunities in the sector.
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06 Mar 2015 - ASX drops into March, awaits US jobs. S&P Dow Jones Indices reveals its rebalance of S&P/ASX Indices for the March quarter.
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9 years ago
20 Feb 2015 - Horizon Oil Limited (ASX:HZN) CEO Brent Emmett outlines the company’s strategy and priorities for the year ahead.
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12 Jan 2015 - ASX set to drop after US jobs report. Shares in mining and materials company Arrium Limited (ASX:ARI) enjoy a rebound last week after sinking over 2014.
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13 Oct 2014 - ASX close to correction in early trade. Horizon Oil Limited (ASX:HZN) strikes oil for a second time in the Beibu Gulf offshore of China
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3 Oct 2014 – CSG mining and fracking have faced stiff community opposition and it remains to be seen if comments by the NSW Chief Scientist and Engineer will assuage fears.
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29 Sep 2014 - ASX see-saws on open reacting to soft economic data from China and defying positive leads from overseas markets. Horizon Oil Limited (ASX:HZN) makes new oil discovery…
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09 Sep 2014 - Horizon Oil Limited (ASX:HZN) CEO Brent Emmett outlines the company’s fiscal 2014 results and outlook.
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05 Aug 2014 - ASX lower and rates on hold. Horizon Oil Limited (ASX:HZN) has terminated its merger implementation deed with Roc Oil.
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04 Aug 2014 -ASX fails to regain early losses despite positive data on retail sales. Roc Oil Company Limited (ASX:ROC) attracts a take over offer with a 52 per cent premium to its …
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04 Aug 2014 - Oil and gas producer Roc Oil Company Limited (ASX:ROC) directors back a takeover bid from China's Fosun International.
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10 years ago
16 Jun 2014 - Aus shares trim losses as gold gains. Experts back a controversial proposed $800 million merger between Roc Oil Company Limited (ASX:ROC) and Horizon Oil Limited (ASX…
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02 May 2014 – Demand for gas is driving deals as high prices in Asia squeeze local supply.
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29 Apr 2014 - Horizon Oil Horizon Oil Limited (ASX:HZN) and Roc Oil Company Limited (ASX:ROC) to create a leading Asian E & P company.
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10 years ago
24 Apr 2014 - ASX rises over holiday shortened week. Transurban Group (ASX:TCL) announces plans to raise $2.74 billion to fund its $7 billion purchase of Queensland Motorways.
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10 years ago
24 Apr 2014 - Aus shares steady. Speculation over possible transaction between Horizon Oil Limited (ASX:HZN) and Roc Oil Company Limited (ASX:ROC), as both enter trading halt.
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10 years ago
17 Apr 2014 – Major miners report iron ore production figures exceeding expectations while China’s growth slows less than expected.