The Horizon Oil Ltd (ASX: HZN) share price is under pressure today after announcing its FY26 results, which included record net production of 2.15 million barrels of oil equivalent (MMboe) and underlying revenue of US$107.2 million.
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What did Horizon Oil Ltd report?
- Record FY26 net production of 2.15 MMboe, up 33% year on year
- Underlying revenue of US$107.2 million (statutory revenue: US$84.2 million)
- EBITDAX of US$56.4 million
- Profit after tax of US$11.1 million
- Cash flow from operating activities up 32% to US$47.2 million
- Final dividend of 1.0 cents per share, taking total FY26 dividends declared to 2.5 cents per share
What else do investors need to know?
Horizon strengthened its production platform through two major acquisitions in the past year. The company integrated its newly acquired Thailand assets and obtained control of Cue Energy Resources Limited in June 2026, expanding its producing asset base across five countries.
Reserves also grew materially, with net 2P reserves up 51% to 13.6 MMboe and 2C contingent resources up 61% to 19.8 MMboe as of 30 June 2026. The group closed the year with US$37.4 million cash and modest net debt of US$11.3 million after paying out over A$33 million in shareholder dividends.
What's next for Horizon Oil Ltd?
Looking ahead, Horizon plans to unlock more value from its expanded portfolio with a series of near-term catalyst projects. The company is progressing field optimisation programs, infrastructure upgrades, and new drilling across its Asia-Pacific assets, including gas development in Thailand and appraisal activity in Australia and Indonesia.
Management highlighted ongoing cost discipline, a focus on high-return opportunities, and a strong commitment to shareholder returns as cornerstones of its future strategy.
Horizon Oil share price snapshot
The Horizon Oil share price is modestly beating the S&P/ASX 200 index (ASX: XJO) on a 12-month basis with a gain of around 7%.
