Woodside 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 MoreTag: WPL
WPL – 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.
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.
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