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Horizon Oil Limited
(OTC:HZN)
Horizon Oil Limited (HZN) vs. S&P 500 (SPY)
Horizon Oil Limited Business Overview & Revenue Model
Horizon Oil Limited Financial Statement Overview
| Breakdown | ||||
| Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 | Jun 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 111.60M | 148.65M | 106.76M | 70.58M | 77.46M | Gross Profit |
| 55.19M | 66.77M | 50.73M | 20.52M | 19.36M | EBIT |
| 0.00 | 61.27M | 46.14M | 15.01M | 13.75M | EBITDA |
| 42.30M | 147.95M | 99.56M | 39.57M | 42.02M | Net Income Common Stockholders |
| 25.90M | 43.85M | 24.33M | 4.51M | -56.99M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 52.57M | 43.49M | 44.08M | 44.44M | 26.09M | Total Assets |
| 205.28M | 184.64M | 183.50M | 186.92M | 172.95M | Total Debt |
| 25.86M | 8.21M | 1.23M | 12.42M | 24.96M | Net Debt |
| -26.71M | -35.27M | -42.85M | -32.02M | -1.13M | Total Liabilities |
| 122.03M | 89.08M | 84.29M | 76.64M | 89.57M | Stockholders Equity |
| 83.24M | 95.55M | 99.21M | 110.28M | 83.38M |
| Cash Flow | Free Cash Flow | |||
| -9.70M | 40.50M | 44.07M | 16.15M | 29.64M | Operating Cash Flow |
| 0.00 | 71.05M | 53.97M | 23.31M | 37.97M | Investing Cash Flow |
| -36.01M | -31.88M | ― | ― | ― | Financing Cash Flow |
| -19.22M | -39.81M | -44.40M | ― | -25.05M |
Horizon Oil Limited Technical Analysis
Horizon Oil Limited Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $19.05B | 10.20 | 7.94% | 5.98% | -7.99% | -12.27% | |
62 Neutral | $18.40B | 12.89 | 14.75% | 5.54% | 8.09% | -13.99% | |
61 Neutral | AU$292.55M | 13.53 | 17.20% | 15.22% | -28.47% | -67.00% | |
56 Neutral | $6.99B | 3.67 | -4.87% | 5.88% | 0.18% | -49.70% | |
56 Neutral | $2.69B | 28.59 | 2.70% | 4.27% | 6.43% | ― |
Horizon Oil Limited Corporate Events
Horizon Oil Limited reported steady production and financial performance for the quarter ending 31 March 2025. The company paid an interim dividend and maintained robust cash reserves, supported by successful infill drilling at Mereenie and strategic acquisition of gas fields in Thailand. This acquisition marks a significant re-entry into the Thai market, expected to enhance production and provide stable cash flow. The company’s balance sheet remains strong, with continued investment in asset growth and shareholder returns.
Horizon Oil Limited has commenced a 2025 infill drilling operation in Block 22/12, Beibu Gulf, China, with a COSL-owned rig mobilized for a one-well campaign. This operation aims to recover incremental oil from an existing field, with an estimated recovery of 0.4 million barrels gross, of which Horizon’s net share is 0.1 million barrels. The project, operated by CNOOC, is expected to enhance production growth and will be funded from Horizon’s existing cash reserves, reflecting the company’s commitment to expanding its production capabilities.
Cue Energy Resources Limited announced that the conditional gas supply agreement for Arafura’s Nolans rare earths project has lapsed due to unmet conditions. The Mereenie Joint Venture, in which Cue holds a 7.5% interest, will now market the gas production volume to other customers in the Northern Territory and East Coast, potentially impacting future revenue streams and market positioning.
Echelon Resources Limited announced that its conditional Gas Sales Agreement with Arafura Rare Earths has lapsed due to unmet conditions. The company, part of the Mereenie Joint Venture, plans to re-market the gas while maintaining a positive relationship with Arafura. This decision reflects a strategic shift to ensure production and development certainty, potentially impacting stakeholders by redirecting focus and resources.
Horizon Oil Limited announced that the gas supply agreement for Arafura’s Nolans rare earths project has lapsed due to unmet conditions. As a result, Horizon and its Mereenie joint venture partners will re-market the gas production, initially intended for the Nolans project, to other customers in the Northern Territory and the East Coast, starting in 2028.
Central Petroleum Limited announced that its gas supply agreement for Arafura’s Nolan’s rare earth project has lapsed due to unmet conditions, prompting the company and its Mereenie joint venture partners to re-market the gas for sale starting in 2028. This decision underscores the critical need for reliable long-term gas supplies in the NT and east coast markets, highlighting Central Petroleum’s position as a key player in providing firm gas backed by proven reserves, which is crucial for funding and developing major capital projects.
Horizon Oil Limited has implemented a hedging strategy to manage the impact of oil price volatility on its cash flows. The company has secured 180,000 barrels of dated Brent swaps at an average price of US$71 per barrel, covering oil liftings from May to December 2025. Additionally, Horizon’s Mereenie gas production is largely protected from price fluctuations due to fixed-price contracts, ensuring stability in its revenue streams.
Horizon Oil Limited has announced a strategic acquisition of interests in two gas fields in Thailand, acquiring a 7.5% stake in the Sinphuhorm field and a 60% stake in the Nam Phong field. This acquisition, valued at $30 million, is expected to enhance Horizon’s production capacity by approximately 2,000 barrels of oil equivalent per day and increase its reserves by 3.9 million barrels of oil equivalent. The deal, funded through a combination of debt and cash flow from the acquired assets, represents a re-entry into the Thai market and aligns with Horizon’s strategy for growth and diversification. The acquisition is anticipated to boost Horizon’s cash flow and production base, supporting its long-term distribution strategy and contributing to Thailand’s energy transition goals.
Horizon Oil Limited announced a change in the director’s interest, specifically for Director Richard Beament. The change involves the issuance of additional Deferred STI Rights and Long Term Performance Rights as an adjustment following the company’s unfranked dividend declaration on February 27, 2025. This adjustment reflects the company’s commitment to aligning executive incentives with shareholder interests and maintaining transparency in its governance practices.
Horizon Oil Limited’s half-year 2025 results presentation highlights the company’s financial performance metrics such as EBITDAX, profit after tax, and free cash flow, which are not prescribed by Australian Accounting Standards. The presentation emphasizes the company’s adherence to its 2024 Reserves and Resources Statement, ensuring that all material assumptions and technical parameters remain unchanged. The estimates of petroleum reserves and resources are prepared under the supervision of the Chief Operating Officer, Mr. Gavin Douglas, ensuring compliance and accuracy in reporting.
Horizon Oil Limited announced a new dividend distribution of AUD 0.015 per share, related to the six-month period ending December 31, 2024. The ex-date is set for April 16, 2025, with the record date on April 17, 2025, and payment scheduled for April 24, 2025. This announcement reflects the company’s ongoing commitment to returning value to its shareholders, potentially enhancing its market position and investor confidence.
Horizon Oil Limited has announced a shareholder briefing to discuss its FY25 Half Year Financial Results. The briefing, scheduled for February 27, 2025, will be a live audio webcast hosted by the company’s CEO and CFO, providing insights into the company’s financial performance and strategic direction.
Horizon Oil Limited announced the completion of the West Mereenie 30 development well, which is part of a two-well drilling campaign operated by Central Petroleum Ltd. The successful completion and anticipated production rates of the wells are expected to significantly boost the Mereenie field’s capacity, helping fulfill a long-term gas sales agreement with the Northern Territory Government. The campaign was completed on time, under budget, and is seen as a potential game-changer for the field’s production capabilities.
Horizon Oil Limited announced the successful completion of the WM30 well as part of the Mereenie Development program, which, along with the WM29 well, is expected to enhance gas production rates. This development positions the company to meet the requirements of a new Northern Territory Government Gas Sales Agreement, showcasing effective execution and collaboration with partners Central Petroleum and Ventia.
Central Petroleum Limited successfully completed the drilling and completion of its second Mereenie production well, WM30, and released the Ventia Rig 101. With the completion of WM29 and better-than-expected production rates, the company anticipates WM30 will perform in line with expectations, contributing to increased production within the tight gas market. The drilling program was completed ahead of schedule and under budget, highlighting a successful operational effort. An update on WM30’s performance is expected in March, indicating significant potential value extraction from Central’s operating assets.