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The latest update is out from Cue Energy Resources Limited ( (AU:CUE) ).
Horizon Oil Limited announced the successful completion of the WM30 well as part of the Mereenie Development program, indicating a positive impact on their gas supply capacity. The completion of this second well, alongside WM29, is expected to increase gas production rates, aligning with the company’s agreement to supply additional gas volumes under the Northern Territory Government Gas Sales Agreement. This development highlights Horizon’s commitment to expanding its production capabilities and unlocking value from its recent Mereenie acquisition.
More about Cue Energy Resources Limited
Horizon Oil Limited is a company in the oil and gas industry, primarily engaged in the exploration, development, and production of hydrocarbons. The company focuses on enhancing its supply capabilities, particularly in the Northern Territory region.
YTD Price Performance: 10.0%
Average Trading Volume: 330,314
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$76.85M
See more data about CUE stock on TipRanks’ Stock Analysis page.
