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Horizon Oil Limited ( (AU:HZN) ) has issued an update.
Horizon Oil Limited and its Mereenie Joint Venture partners have signed a Letter of Intent with the Northern Territory’s Power and Water Corporation to accelerate drilling of two new wells and establish long-term gas supply agreements. This initiative aims to enhance gas supply security in the region by targeting mid-2026 for drilling commencement and potentially supplying additional gas volumes to the market using existing field capacity. The agreements are expected to support the Northern Territory’s gas demand until 2034, with formal Gas Sale Agreements anticipated by February 2026.
The most recent analyst rating on (AU:HZN) stock is a Hold with a A$0.22 price target. To see the full list of analyst forecasts on Horizon Oil Limited stock, see the AU:HZN Stock Forecast page.
More about Horizon Oil Limited
Horizon Oil Limited is a company involved in the oil and gas industry, focusing on the exploration, development, and production of hydrocarbons. It holds a 25% interest in the Mereenie field, working alongside other joint venture participants to enhance gas supply in the Northern Territory.
YTD Price Performance: 25.77%
Average Trading Volume: 1,345,230
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$333.7M
See more insights into HZN stock on TipRanks’ Stock Analysis page.