Tag: WPL

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.

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.

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.

Two bits of news yesterday have revealed that the resource investment boom, which definitely punctured, hasn’t died.

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.

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.

The slide in oil prices and foreshadowed asset impairments took their expected toll on the earnings of Woodside Petroleum (WPL) in 2015.

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.

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.

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.

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.

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.

Woodside Petroleum’s (WPL) revenue plunged 16% in the three months to March, according to the quarterly report, released yesterday.

Woodside (WPL) has made another gas discovery in the general area of its expanding Pluto LNG project offshore WA.

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.

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?

Two deals involving more than $US10 billion in oil and gas assets were revealed yesterday as the restructuring of the embattled sector gets underway.

At a time when falling oil prices are forcing companies to cutback, lower costs and abandon projects, and falling iron ore and coal prices are forcing companies in those industries into similar action, two announcements yesterday from Woodside (WPL) and Rio Tinto (RIO) respectively will raise a few eyebrows because they announced new multi-million dollar projects.

Shares in Woodside Petroleum (WPL) edged higher yesterday after the company surprised the market with better than expected third quarter figures.

Was it a cunning ploy by Woodside’s (WPL) board and management to release figures yesterday to the market suggesting the Shell franking credits/buyback deal, would fail at today’s special shareholders meeting in Perth?

Higher gas prices along with higher volumes of oil (and higher oil prices) sold helped to offset a lower level of shipments for Woodside Petroleum (WPL) in the June quarter and for the first half of the year.

Woodside (WPL) shares fell 4.5% yesterday (to $40.90) after investors sold off nearly 53 million shares, worth almost $2.2 billion in the wake of the sell down by Shell.

Woodside (WPL) shares are expected to resume trading today with a price rise anticipated by investors after the sell down by Shell of most of its stake in the largest pure hydrocarbon company on the ASX.

Like so many companies these days, Woodside Petroleum (WPL) managed this week’s news flow very adroitly, separating the news of the abandonment of a $2.5 billion expansion into a huge gas development offshore Israel, and then a day later raising the prospect of a big new gas development on the northwestern coast of Western Australia.

Muted applause from the market yesterday at Woodside Petroleum’s (WPL) confirmation that it was not going to be up for $2.5 billion or more to buy into the huge Leviathan gas project offshore Israel in the Eastern Mediterranean.

Shareholders have again been rewarded by Woodside Petroleum (WPL) after the oil and gas group reported its second highest full year result ever and its highest based on earnings from continuing operations.

Good news for 2013 and good news for 2014 from Woodside Petroleum (WPL) yesterday at an investor day update.

The Pluto LNG project is proving to be a bit of a worry for Woodside Petroleum (WPL).

It won’t be the best looking interim result that Woodside Petroleum (WPL) releases to the market next month, judging by the second quarter and first half production report released yesterday.

Shares in Woodside Petroleum (WPL) slumped yesterday, despite another sharp rise in world oil prices.

Woodside Petroleum managed to align higher production and rising oil and gas prices in the June quarter and it paid off.

Another rough day for Woodside Petroleum with the company’s shares hitting a new 52 week low of $39.87 as investors continued to sell after Friday’s shock cost blow out and delay to its Pluto LNG project in WA.

For a while yesterday morning, Woodside Petroleum shares were the only major stock in green in the big sell-off after it surprised the market with a big gas discovery off the northwestern WA coast.

It’s not only production of iron ore, coal and uranium that have been impacted by the wet weather and cyclones across northern Australia since the start of the year.

Even though Woodside Petroleum, Australia’s biggest oil and gas company, disappointed some analysts with the its 2010 result yesterday shareholders won’t have much to complain about with a higher final and full year dividend. 

Woodside has delayed a final decision on its Pluto LNG project expansion until next year, according to comments with the company’s interim 2010 profit statement yesterday.

As expected, Woodside Petroleum suffered a sharp fall in 2009 sales because of the slump in world prices (compared to much of 2008).

More news from the growing gas sector with Woodside Petroleum confirming that it was well on track to raise the $2.5 billion it announced it was seeking earlier in the week.

Woodside Petroleum has confirmed market expectations that it was looking for a major fund raising, revealing plans yesterday to raise $2.5 billion from shareholders and other investors.