AGM highlights and strategic focus

Horizon Oil (ASX:HZN) conducted its Annual General Meeting on November 20, 2024. The meeting covered the company's performance, strategic goals, and future plans. Key highlights included significant debt reduction, strategic asset acquisition, and continued shareholder returns. The company aims to maximize cash flow and maintain robust production.

Strategic direction and future plans

Horizon Oil has demonstrated progress by reducing debt and enhancing shareholder returns. The acquisition of the Mereenie asset has strengthened its production base alongside assets in China and New Zealand. The company prioritizes maximizing free cash flow, maintaining production, and distributing dividends. Looking forward, Horizon plans sustained production from its key assets and seeks new business opportunities. The company continues to focus on ESG principles and community support, ensuring alignment with its investment and distribution strategy.

Executive insights and leadership transition

Mike Harding, the outgoing Chairman, expressed mixed emotions about retiring after six successful years. Bruce Clement will assume the role of Chairman, bringing significant oil and gas experience.