Horizon Oil Posts Record Production, Expands to Five Countries

Horizon Oil reported record production and sales for fiscal year 2026, with net production reaching 2.15 million barrels of oil equivalent, the company said on its earnings call Tuesday. The Cue acquisition expanded the producer's footprint to five Asia Pacific countries: Thailand, Indonesia, Australia, New Zealand and China.

CEO Richard Beament said the results reset the company's scale and cash flow base. "FY '26 resets Horizon's scale and cash flow base," Beament said on the call. "The business now operates from a larger, more diversified platform than this time last year."

The company maintained a strong balance sheet and continued shareholder returns during the period. CFO Kyle Keen also presented the financial results.

"Thailand is contributing low cost cash flow," Beament said.