Matahio Energy Pty. Ltd and Horizon Oil Limited agreed to acquire Exxonmobil Exploration And Production Khorat Inc. from Exxon Mobil Corporation for $50 million.
Matahio Energy Pty. Ltd and Horizon Oil Limited (ASX:HZN) agreed to acquire Exxonmobil Exploration And Production Khorat Inc. from Exxon Mobil Corporation (NYSE:XOM) for $50 million on March 24, 2025. Matahio Energy Pty. Ltd and Horizon Oil Limited will pay an amount of $40 million in cash Matahio Energy Pty. and an earnout/contingent payment of $10 million cash. As part of consideration, $50 million is paid towards common equity of Exxonmobil Exploration And Production Khorat Inc. The transaction will be financed through senior debt of $32 million. Horizon will purchase 75% of consideration ($30 million plus up to $7.5 million in contingent payments) with Matahio Energy Pty.Ltd. paying the balance. The transaction remains subject to customary completion conditions.
Macquarie Bank debt facility which will provide additional debt capacity for the acquisition of up to approximately $22 million, with up to a further $10 million of finance made available following completion of the acquisition.
Exxon Mobil Corporation is an oil group organized around 3 areas of activity:
- refining and distribution (75.5% of net sales): 5.6 million barrels of oil products (diesel fuel, gasoline, fuel oil, lubricants, motor oils, etc.) sold per day in 2025;
- petrochemical (12.3%): primarily oils, aromas, alcohols, ethylene, elastomers, propylene, and polymers (21.3 Mt sold in 2025) for the pharmaceutical, cosmetic, textile, electrical, etc.
- exploration and production of hydrocarbons (12.2%; worldwide leader): 3.3 million barrels of oil produced per day and 239.1 million m3 of natural gas produced per day.
Net sales are distributed geographically as follows: the United States (42.5%), Canada (8.4%) and other (49.1%).
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Matahio Energy Pty. Ltd and Horizon Oil Limited agreed to acquire Exxonmobil Exploration And Production Khorat Inc. from Exxon Mobil Corporation for $50 million.
