Woodside 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.
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WPL – 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.
Read MoreWPL – Macquarie rates the stock as Neutral
Chevron has reiterated production guidance for Wheatstone while Shell has re-classified its stake in Woodside to a security investment rather than an associate.
Read MoreRio And Woodside: Has The Trend Changed?
Following an article by Karl Siegling in May 2016 titled ‘Commodities: Has the trend changed?’ we will look in detail at two of our current commodity positions – a short position in Rio Tinto (RIO) and a short position in Woodside Petroleum (WPL).
Read MoreWoodside Earnings Hit By Low Energy Prices
Revenue earned by Woodside Petroleum in the six months to June from sales of LNG, oil and other products plunged by just on a quarter from a year earlier as the company continued to battle of the two year slide in global prices.
Read MoreWPL – Citi rates the stock as Buy
Woodside is buying itself into a project in Senegal and Citi analysts are supportive given the deal looks attractive and accretive from multiple angles.
Read MoreWoodside Expands In Africa
Woodside Petroleum (WPL) has made a second move into West African oil provinces with the news that it will pay up to $US430 million to buy ConocoPhillips’ stake in three deepwater oil blocks off the coast of Senegal.
Read MoreWPL – Macquarie rates the stock as Neutral
Macquarie reviews its outlook following a site tour. The broker observes the only lever with material value that the company can use is an acquisition.
Read MoreResource investment boom hasn’t died!
Two bits of news yesterday have revealed that the resource investment boom, which definitely punctured, hasn’t died.
Read MoreWoodside Upbeat Despite Weak Quarter
Woodside Petroleum shares took yesterday’s weak first quarter production and sales report in their stride, rising because global oil prices firmed, then falling after Kuwaiti oil workers ended a brief strike, thereby restoring around 1.9 million barrels a day of production to global oversupply.
Read MoreWoodside Scraps Browse LNG
It was no surprise – the slide in global oil and gas prices since mid 2014 (and despite the recent rebound) has caused companies large and small to cut costs by slashing jobs, suppliers, exploration and development spending, and investment in projects, current and prospective.
Read MoreWPL – UBS rates the stock as Neutral
Oil stocks have rallied recently, primarily driven by an increase in oil prices. Brent is now above US$40/bbl for the first time since December.
Read MoreWPL – Deutsche Bank rates the stock as Hold
2015 results were ahead of Deutsche Bank’s forecasts. The broker considers the results solid, given the challenging environment. Deutsche Bank continues to expect that Browse will not achieve final investment decision in the medium term, given a lack of cost competitiveness.
Read MoreWeak Oil Weighs On Woodside
The slide in oil prices and foreshadowed asset impairments took their expected toll on the earnings of Woodside Petroleum (WPL) in 2015.
Read MoreMore Write Downs At Woodside
Woodside Petroleum (WPL) shareholders are facing a sharp cut to their final dividend after the oil and gas group revealed a sharp fall in revenues for the 4th quarter and the full year.
Read MoreRelief As Woodside Pulls Out
Confirmation of what many expected has occurred. Woodside Petroleum (WPL) has formally abandoned its pursuit of Oil Search ((OSH)).
Read MoreWPL – Credit Suisse rates the stock as Neutral
With confusion over its plans for the Oil Search ((OSH)) bid and few positive catalysts likely soon from any growth assets, Woodside’s risk/reward no longer looks so attractive to Credit Suisse and the rating is now downgraded to Neutral from Outperform.
Read MoreWPL – Macquarie rates the stock as Neutral
Following a tour of the onshore gas plants Macquarie makes adjustments to Pluto LNG processing fees, contracting and a deferral of first LNG at Wheatstone to mid 2017. The result is largely non-cash upgrades to forecasts.
Read MoreWPL – Credit Suisse rates the stock as Outperform
September quarter production was consistent with expectations. Following a narrowing of 2015 production guidance to 89-93mmboe Credit Suisse raises its forecast to 89.9mmboe. Offset by higher exploration expenses earnings estimates are unchanged.
Read MoreWPL – Credit Suisse rates the stock as Outperform
September quarter production was consistent with expectations. Following a narrowing of 2015 production guidance to 89-93mmboe Credit Suisse raises its forecast to 89.9mmboe. Offset by higher exploration expenses earnings estimates are unchanged.
Read MoreWoodside Q3 Revenue Slides 45%
Amid claims it was revisiting the pricing of its rejected $11.6 billion offer for Oil Search (OSH), Woodside Petroleum (WPL) yesterday revealed the damage the continuing oil price slide has done to its finances.
Read MoreWPL – Citi rates the stock as Neutral
Cheetah-1 (30% Woodside) in Cameroon has proved non-commercial. Citi analysts believe this exploration failure once again highlights the difficulties to add growth to Woodside’s outlook.
Read MoreWeak Oil Weighs On Woodside
As expected, Woodside Petroleum (WPL) reported a sharp fall in interim profit and a lower dividend, thanks to weak oil prices which the company believes will continue into 2016.
Read MoreWoodside Hit By Lower Oil Prices
The downturn in the global prices of oil and associated energy products such as LNG and condensates has finally caught up with Woodside Petroleum (WPL), as the company’s June quarter and half year report revealed yesterday.
Read MoreWPL – UBS rates the stock as Neutral
The Browse JV will enter FEED on a floating LNG development. Woodside’s equity has reduced marginally, to 30.6% after formal unitisation of the three gas fields has been completed.
Read MoreWoodside Ramps Up Cost Cuts
Woodside Petroleum (WPL) had a lot of confident, upbeat commentary about its development prospects over the next year to 18 months in its 2015 investor day release yesterday, but the most important statements were buried in the briefing from the company’s chief financial officer Lawrie Tremaine.
Read MoreWPL – UBS rates the stock as Neutral
In its investor briefing Woodside signalled it is targeting $800m in cost and reliability benefits by the end of 2016. UBS is pleased that the company is on track with cost savings and that the exploration plans are taking shape.
Read MoreWPL – Credit Suisse rates the stock as Neutral
Woodside has confirmed it will move to equity marketing of uncommitted production from Pluto and the North West Shelf rather than via the joint venture.
Read MoreWoodside Revenue Slides In Q1
Woodside Petroleum’s (WPL) revenue plunged 16% in the three months to March, according to the quarterly report, released yesterday.
Read MoreWoodside Finds More WA Gas
Woodside (WPL) has made another gas discovery in the general area of its expanding Pluto LNG project offshore WA.
Read MoreWoodside Gets Green Light For Apache Gas
No wonder investors treated with caution yesterday’s announcement from Woodside Petroleum (WPL) that the competition regulator, the ACCC, had given it the go ahead to buy Apache’s WA gas and oil assets.
Read MoreWoodside: As Good As It Gets?
Was the 2014 result for Woodside as good as it gets as the slide in oil and gas prices will almost certainly carve great chunks out of the 2015 revenues and earnings for the country’s major listed energy group?
Read MoreEnergy Deals Ramp Up
Two deals involving more than $US10 billion in oil and gas assets were revealed yesterday as the restructuring of the embattled sector gets underway.
Read MoreWoodside A Winner From The Oil Price Slump
As a significant producer of oil, gas and LNG, you might think the vicious fall in oil prices would be terrible for Woodside Petroleum. The market has dragged the share price lower, albeit less than the likes of Santos and Oil Search, but it’s quite possible that lower prices are a blessing for Australia’s largest independent energy producer.
Read MoreThe Fallout From OPEC
The Organisation of Petroleum Exporting Countries (OPEC) has thrown cold water on oil company aspirations. The meeting of the 12 member cartel on November 28 decided to forgo a cut to production, signalling their game of bluff with the US will continue. The consequences of the decision, or lack of production restraint, are far reaching. Citi’s commodity team believes oil prices could find a new US$70-90 equilibrium in the years ahead.
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