Woodside Downgrades Production On Pluto Problems
Woodside has cut its 2019 production guidance by 3% after reporting problems at its Pluto LNG processing facility in WA.
Read MoreTag: WPL
WPL – Deutsche Bank rates the stock as Hold
Deutsche Bank estimates 13.5mtpa of LNG contracts have been signed this year, up 67%.
Read MoreWPL – Citi rates the stock as Sell
March quarter production was -3% below Citi’s expectations because of unplanned outages in Western Australia. The company has indicated that Scarborough marketing is being slowed as prevailing prices have been too low.
Read MoreWPL – Credit Suisse rates the stock as Outperform
Woodside has secured a foundation customer for Scarborough. The deal is conditional on a final investment decision. Credit Suisse assumes Woodside has achieved the higher end of the 11.5-12% range for the LNG contract.
Read MoreWoodside Tight Lipped On Canadian LNG Expansion
Not a word yesterday from Woodside Petroleum about a report that it and partner Chevron Canada want to nearly double the size of its Kitimat LNG plant in Western Canada.
Read MoreEnergy Stocks Hit By Norway Exit
Shares in major ASX listed oil and gas groups were sold off yesterday after Norway’s huge sovereign wealth fund decided to sell billions of dollars of shares in energy groups.
Read MoreWoodside Ups Payout On Higher Energy Prices
As expected Woodside Energy’s annual profit has jumped by more than a quarter as it benefited from higher oil and LNG prices (in particular) and higher production.
Read MoreWPL – Macquarie rates the stock as Neutral
December quarter results were largely in line. Macquarie was surprised by the flat expectations for production in 2019 of 88-94 mmboe.
Read MoreWoodside Left Stranded After Shell Sells Sunrise Gas Stake
East Timor and Shell have handed Woodside a major headache in the deal by Shell to sell its stake in the huge Sunrise gas field.
Read MoreWoodside, Santos Ride Higher Oil Prices
Solid Q3 production reports from energy majors Woodside and Santos show them catching the recent oil price surge with higher production and sales.
Read MoreWPL – Macquarie rates the stock as Neutral
Total has announced the successful appraisal of the Shwe Yee Htun-2 well in Myanmar. The well-intersected 40m of net pay and a high-quality reservoir. Macquarie expects these initial results to provide upside to the existing resource base in Woodside’s 2018 result.
Read MoreWPL – Citi rates the stock as Neutral
Citi analysts are entertaining scenarios whereby Woodside’s balance sheet would allow for full funding for the Browse project. On their calculations, this is possible if crude oil averages US$65/bbl and with some leniency from credit agencies. The latter is seen as possible.
Read MoreWheatstone LNG Drives Woodside To Stronger Half
Woodside Petroleum has lifted interim dividend 8% to 53 cents a share after a solid first half effort reporting higher sales, profit and forecasting a lift in production for the year to December.
Read MoreWheatstone LNG Lifts Woodside Q2 Profit
Woodside Petroleum’s second quarter revenue jumped nearly 25% as global oil and gas prices surged and the slowly rising growth in output from the huge Wheatstone liquefied natural gas project.
Read MoreWoodside Eyes Texas LNG Exit
Woodside Petroleum seems to be continuing its LNG rationalisation phase and concentrating more on Australia, West Africa and Canada.
Read MoreWPL – Macquarie rates the stock as Neutral
The company has focused on organic growth options in the Asian LNG market at its investor presentation. Capital intensity has been reduced for Scarborough but Macquarie suspects gas buyers are still unwilling to commit.
Read MoreWoodside Pumps Up Cost For Scarborough Gas
Woodside has told an investor day presentation that it has increased the cost of its Scarborough development by $US1 billion after lifting the processing capacity at its Pluto gas facility.
Read MoreWPL – Morgans rates as Hold
First quarter production was slightly softer than Morgans expected. The broker retains some issues with the company’s recent decisions but continues to like the earnings profile of the mostly mature projects.
Read MoreWheatstone LNG Lifts Woodside Q1 Revenue
The surge in global oil and gas prices in the first quarter saw Woodside Petroleum’s first quarter revenue jump 30% from a year earlier, helped by higher production.
Read MoreBHP Deal Sees Woodside Take Control Of Scarborough Gas
Woodside is moving close to controlling the huge Scarborough LNG project off the Northwest coast of WA with news that it and the remaining partner, BHP, have agreed to Woodside will be the operator.
Read MoreWoodside Drops LNG Plan In Canada
It was notable that in January when Woodside surprised the market with a $2.5 billion capital raising that the company failed to mention Canada in explaining what it wanted the money for.
Read MoreCashed Up Woodside Eyes Gas Growth
It’s no wonder Woodside wants to raise $2.5 billion to spend billions on expanding its gas interests on the North West Shelf, it is swimming in hundreds of millions of dollars of cash, with more to come and that needs a profitable home.
Read MoreWPL – UBS rates the stock as Buy
December quarter production was broadly in line with UBS. Capital expenditure was higher than the broker expected, attributed to delayed start up of Wheatstone.
Read MoreWoodside Eyes Higher Prices As Production Slips
Despite Woodside’s first shipment of LNG from the Wheatstone project and record production at the Pluto facility the oil and gas group failed to lift production in 2017.
Read MoreShell To Sell Down Woodside Stake
Investors in Woodside Petroleum will have to contend with the confirmation last night that Shell is about to sell most of its holding, with the rest not to far behind.
Read MoreWheatstone Delays Hit Woodside
A two month delay to the start up of the huge Wheatstone LNG project off the northwest WA coast has seen Woodside trim the upper end of its production forecast for 2017 with a quarter to go.
Read MoreUpbeat Woodside Lifts Profit, Payout
For the country’s largest standalone oil and gas group, Woodside, its first half financial report was far different in substance (a nice rise in profit), tone (more upbeat) and colour (now losses or red ink) than the full year report from Origin Energy yesterday and the loss-strewn half year expected from Santos.
Read MoreWPL – Morgans rates the stock as Hold
LNG production on the North West Shelf drop -5% in the June quarter and was below forecasts. Morgans suspects the company is likely to be stuck with a collection of mostly large-scale, dry, remote and consequently capital intensive development assets.
Read MoreWPL – UBS rates the stock as Buy
UBS trims near-term Brent oil price estimates for 2017-19. The new forecast is US$56/bbl in 2017, US$60/bbl in 2018 and US$65/bbl in 2019.
Read MoreWPL – Macquarie rates the stock as Neutral
Macquarie believes the proposal for Browse tolling through the North West Shelf and Pluto expansion projects could potentially lift production in the 2020s but more work needs to be done to underpin this.
Read MoreWPL – Citi rates the stock as Neutral
Citi analysts returned from Woodside’s Investor Briefing Day with an unchanged view. Investors already are pricing in a positive view, say the analysts. On their calculations today’s share price represents oil at US$70/bbl.
Read MoreStorms Savage Woodside Production
Oil and gas giant Woodside Petroleum (WPL) has reported a drop in first-quarter revenue, thanks to lower production caused by bad weather which also contributed to a build up in inventories as a result of the disruption to its LNG sales.
Read MoreWPL – UBS rates the stock as Buy
The main contributors to production growth UBS envisages for the next three years will be Wheatstone and Greater Enfield, followed by Canadian pipeline gas. The combined increase in volumes is around 24mmboe, which will be partly offset by lower pipeline gas and liquids from the North West Shelf.
Read MoreWoodside Awaits Energy Rebound
The rebound in oil – and gas – prices saw a apparent sharp surge Woodside Energy’s (WPL) earnings for the year to December, 2016 as it looks to higher output in the year ahead to maintain the growth momentum.
Read MoreWPL – Macquarie rates the stock as Neutral
Woodside’s LNG production was lower in the Dec Q due to a number of issues but in line with the broker’s expectation. 2017 production will be some 6% lower than 2016 but this is due to a smaller equity stake in the North West Shelf pipeline.
Read MoreWoodside Flags Production Drop
2017 could be a rough year for shareholders in Woodside Petroleum (WPL) – not from the continuing volatility in world oil prices, but from a year of sliding production before an upturn arrives in 2018 to halt the rot.
Read MoreWPL – Deutsche Bank rates the stock as Hold
Wheatstone LNG operator Chevron has guided to US$34bn in capex to completion, representing a 17% over-run. Woodside stated that the updated capex guidance is less than 8% above its own guidance for Wheatstone.
Read MoreWoodside Talks Down Wheatstone Costs
Investors in Woodside Petroleum (WPL) accepted its assurances yesterday that it would not be hit by the $US5 billion blowout in the cost of the Chevron run Wheatstone export LNG project off the WA northwest coast.
Read MoreWPL – Credit Suisse rates the stock as Underperform
Credit Suisse has lowered its forecast pricing for oil, most notably dropping its long term Brent price to US$65/bbl from US$70/bbl. On the broker’s valuation, Woodside’s current trading price implies US$72 oil at a US$75c Aussie.
Read MoreWoodside Buys BHP Gas Assets
Woodside Petroleum (WPL) has continued its shopping spree for global oil and gas assets, but instead of focusing offshore for the latest deal, has returned home to its old stomping ground off the NW coast of WA.
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