Horizon Oil (HZN)

Shares / Stock Code

HZN

Stock Exchange / Sharemarket

Australian Securities Exchange

Horizon Oil (HZN) is involved in oil exploration, development and production. HZN has exploration operations in New Zealand, PNG, the US and China. It is involved in a small-scale production joint venture with Icon Energy in the US. HZN's major project is the Maari Oilfield Project. Horizon Oil listed on the ASX in 1981. Since listing, the company has been primarily involved in oil exploration and production. In June 2003, the company sold its major New Zealand operations to Swift Energy.

The Company’s subsidiaries include Horizon Oil International Limited, Horizon Oil (New Zealand) Limited, Horizon Oil (G1) Limited, Horizon Oil (G3) Limited, Horizon Oil (USA) Inc. and Horizon Oil (Siam) Limited. On February 13, 2009, the Company divested Thai petroleum concessions.

HZN has recently shifted its focus to lower risk exploration activities. The company differs from major oil and gas companies in that it does not aim to develop its own production facilities but concentrates on exploration. When a production opportunity arises, HZN seeks a joint venture arrangement with a production company.

Most oil is sold into global spot markets, whilst gas is typically sold under long-term contract arrangements with utilities, large industrial users and steel plants. Key competitors include Rio Tinto, BHP, CH4 Gas Ltd (CHX) and Bounty Oil & Gas (BUY).

Horizon Oil (HZN) Products and Services

  • Petroleum exploration, development and production

Horizon Oil (HZN) Locations and Subsidiaries

Horizon Oil History
Level 7, 134 William Street,
WOOLLOOMOOLOO, NSW 2011
Phone: (02) 9332 5000
Fax: (02) 9332 5050

Horizon Oil (HZN) Share Price

Submitted by ASX Listed Company on 17 April, 2010 - 21:53

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