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Horizon Oil Limited ( (AU:HZN) ) has provided an update.
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.
More about Horizon Oil Limited
Echelon Resources Limited is an Australasia-focused energy commodity exploration and production company based in Wellington, New Zealand. The company operates both onshore and offshore oil and gas assets across Australia, New Zealand, and Indonesia, either directly or through its stake in Cue Energy Resources Limited. Echelon emphasizes ethical and values-based exploration and development, maintaining strong ESG standards to meet community and regulatory expectations.
YTD Price Performance: 30.0%
Average Trading Volume: 31,401
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $201M
For detailed information about HZN stock, go to TipRanks’ Stock Analysis page.
