Horizon Oil Limited Expands Footprint in Thailand

Horizon Oil Limited (ASX: HZN) has successfully completed a key acquisition in Thailand, securing a 7.5% share in the Sinphuhorm gas field and a 60% holding in the Nam Phong gas field, effectively expanding its production capacity and strengthening its regional presence. This move adds approximately 2,100 barrels of oil equivalent per day (boe/d) to its portfolio, increasing total output to nearly 6,500 boe/d. The transaction also boosts net 2P reserves by 3.9 MMboe, strengthening Horizon’s long-term production base.

The acquisition was primarily financed through debt with minimal cash impact, while expected to generate robust free cash flow over the next five years. By partnering with Matahio Energy and PTTEP, Horizon gains a low-cost entry platform for further growth in Southeast Asia. The gas produced will continue to support regional electricity generation, aligning with Thailand’s energy transition goals. This acquisition strengthens Horizon’s diversified production approach while underlining its dedication to delivering long-term value for shareholders.

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