Horizon Oil Limited (ASX:HZN)

In the fourth quarter of FY26, Horizon Oil Limited reported record production and sales volumes, with significant contributions from its recent acquisition of Cue Energy Resources Limited. The company's gross production averaged 6,724 barrels of oil per day, with net oil sales at 153,105 barrels, generating a revenue of US$17.7 million. The company maintained a strong balance sheet with cash reserves of US$37.4 million at the end of June 2026. Horizon's acquisition of a controlling interest in Cue expanded its scale, production, reserves, and geographic diversity, now covering five countries and nine producing fields. The acquisition added near-term opportunities in Australia and Indonesia and increased combined production by approximately 15% to 7,300 barrels of oil equivalent per day. In addition, Horizon's operations in Thailand continued to be a low-cost cash flow contributor, with revenue from this region increasing by 18% despite lower production volumes. The company also progressed various development projects and continued to focus on maintaining financial discipline and progressing high-return opportunities.