Horizon Oil Limited (ASX: HZN) Secures Strategic Long-Term Gas Sale Agreements

Horizon Oil Limited (ASX: HZN) has announced the successful completion of the Mereenie joint venture gas sales Expression of Interest (EOI) process, leading to a strategic gas sales agreement (GSA) with the Northern Territory Government (NTG). The GSA ensures the gas supply from 1 January 2025 to 31 December 2030, covering up to 8.3 PJs for Horizon.

This agreement mitigates risks related to the Northern Gas Pipeline (NGP) and supports drilling two new infill wells. Additionally, Horizon restructured an existing GSA with Arafura Rare Earths Limited (ARU), extending the gas supply term to 31 December 2030, contingent on ARU’s project investment decision. These agreements solidify Horizon's gas production outlook through the decade.

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