Horizon Oil (HZN) Q4 2026 TU earnings summary

Executive summary

• Achieved record FY26 production of 2.15 MMboe and sales of 1.98 MMboe, up 33% and 22% year-over-year, driven by the Thailand acquisition and excluding Cue's contribution.

• Completed the off-market takeover of Cue Energy, securing a 57.03% controlling interest, increasing scale, reserves, and geographic diversity.

• Maintained a strong balance sheet with $37.4 million in cash after significant debt repayments, dividends, and acquisition costs.

• Portfolio diversification and operational improvements in China, New Zealand, Australia, and Thailand supported robust cash flow and production.

Financial highlights

• Q4 FY26 revenue (net of hedging) was $34.7 million, with net operating cash flow of $23.6 million.

• FY26 total revenue reached $104.7 million, with net operating cash flow of $63.3 million.

• Cash reserves at period end were $37.4 million, with net debt of $11.3 million after $8 million in debt repayments and $17 million in dividends.

• Oil hedging settlements resulted in a $10.2 million loss for FY26.

Outlook and guidance

• Multiple production enhancement and development projects are scheduled for the next six months to drive further growth.

• Cue acquisition provides additional near-term development, appraisal, and exploration opportunities in Australia and Indonesia.

• Continued focus on disciplined capital allocation, operational reliability, and progressing high-return development opportunities.