Horizon Oil Limited (AU:HZN) has released an update.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Horizon Oil has successfully completed the acquisition of a further 25% stake in the Mereenie gas field, a strategic asset that has significantly bolstered its reserves and production capabilities. The deal, financed by a A$63 million debt facility from Macquarie Bank, will see Horizon Oil’s total 2P reserves jump by 41% to 23mmboe. New Zealand Oil & Gas CEO Andrew Jefferies expressed enthusiasm for the asset’s potential to contribute to Australia’s gas supply amidst the energy transition.
For further insights into AU:HZN stock, check out TipRanks’ Stock Analysis page.
