Horizon Oil Limited (AU:HZN) has released an update.
Horizon Oil Limited has successfully secured a significant gas sales agreement with the Northern Territory Government, ensuring the Mereenie joint venture will provide a stable gas supply to the region through 2030. This strategic move contracts Horizon’s Proved Developed Producing gas production and mitigates risks associated with the Northern Gas Pipeline by supporting contingency plans and promoting further field investment. The deal, which also includes an amended agreement with Arafura Rare Earths Limited, is expected to enhance Horizon’s project cash flows for the rest of the decade.
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