Welcome to our dedicated page for Woodside Energy Group American Depositary Shares, each representing one Ordinary Share news (Ticker: WDS), a resource for investors and traders seeking the latest updates and insights on Woodside Energy Group American Depositary Shares, each representing one Ordinary Share stock.
Woodside Energy Group Limited (symbol: WDS) is an Australian oil and gas company renowned for its exploration, development, production, and supply of energy resources. Founded in 1954, Woodside has grown into a globally recognized entity, with a noteworthy presence in both emerging and frontier provinces across Australasia and the Atlantic.
As one of the leaders in the LNG sector, Woodside operates some of the world's most advanced facilities, particularly in the North West of Australia. The company's mission is to deliver superior shareholder returns by realizing its vision of becoming a global leader in upstream oil and gas. This commitment is reflected in their operational excellence, characterized by robust safety and environmental performance even in remote and challenging locations.
Woodside places significant emphasis on building long-term, meaningful relationships with the communities where it operates, ensuring that their presence leads to mutual benefits. This approach is fundamental to maintaining their license to operate and fostering sustainable development.
Among Woodside’s recent achievements, the third quarter report for 2023 highlights a substantial increase in production, achieving 47.8 million barrels of oil equivalent. This success is attributed to strong operating results at Pluto LNG, which achieved 99.9% reliability following a maintenance turnaround. The company has also made significant progress on major projects, including the early production at Shenzi North in the US Gulf of Mexico and the ongoing activities at Scarborough and Pluto Train 2, which are currently 46% complete.
The importance of the Scarborough project was underscored by a recent agreement with LNG Japan, enhancing regional energy security. Additionally, Woodside is advancing in new energy sectors, with progress on their H2OK facility in Oklahoma and collaborative efforts on carbon capture and storage (CCS) with Japanese partners to aid in global decarbonization efforts.
Financially, Woodside remains robust, with the latest updates indicating a strong reserves life, top quartile among global peers, and significant growth in reserves following the integration of BHP's petroleum assets. The company's strategic focus on disciplined growth and capital management ensures sustainable value creation for shareholders.
Woodside's dedication to innovation and sustainability is evident through its projects and partnerships, positioning it favorably for future growth and resilience in an evolving energy market.
Woodside and Chevron have agreed to a strategic asset swap that will reshape their Australian LNG portfolio. Under the agreement, Woodside will acquire Chevron's 16.67% interests in the North West Shelf (NWS) Project, NWS Oil Project, and 20% interest in the Angel CCS Project. In exchange, Woodside will transfer its 13% stake in Wheatstone and 65% interest in Julimar-Brunello Projects to Chevron.
The transaction includes a cash payment from Chevron to Woodside of up to $400 million, comprising $300 million at completion and up to $100 million in contingent payments. The deal is expected to close in 2026, with an effective date of January 1, 2024. The net impact will increase Woodside's Proved plus Probable Reserves by 9.6 MMboe.
Woodside has signed a revised lump sum turnkey engineering, procurement and construction (EPC) contract with Bechtel for the development of Louisiana LNG, a three-train facility with 16.5 million tonnes per annum capacity. Bechtel will continue work under a notice to proceed (LNTP), focusing on site construction and securing key materials.
The project is fully permitted and targets final investment decision (FID) readiness from Q1 2025. Total expenditure until then is forecast at up to $1.3 billion. The estimated forward cost for the foundation development remains at $900-960/tonne, excluding pipeline costs.
Woodside Energy, Baker Hughes, and Bechtel collaborated in a tricycle race fundraiser for United Way of Greater Houston, raising $150,000. The event featured racing teams from all three companies and United Way. Woodside, which has a 36-year partnership with United Way, matches employee contributions and contributed $667,000 to United Way last year through their annual campaign for employee fundraising and volunteering opportunities.
Woodside Energy Group (ASX: WDS) released its Q3 2024 results, reporting record quarterly production of 53.1 MMboe, up 20% from Q2 2024. Key highlights include:
- Quarterly revenue of $3,679 million, up 21% from Q2 2024
- Sangomar achieved nameplate capacity of 100,000 barrels per day
- Scarborough Energy Project 73% complete, on track for first LNG cargo in 2026
- Completed acquisition of OCI's Clean Ammonia Project for ~$2,350 million
- Acquired Tellurian and its Driftwood LNG project, renamed Woodside Louisiana LNG
- Signed LNG supply agreement with JERA for ~0.4 Mtpa over 10 years
- Successfully issued $2 billion in senior unsecured bonds
The company narrowed full-year production guidance to 189-195 MMboe and increased gas hub exposure guidance to 33-37% of produced LNG.
Woodside has decided to delist from the London Stock Exchange (LSE) due to low trading volumes and to reduce administration costs. The company has applied to cancel its listing on the LSE's Main Market, with the last trading day expected to be 19 November 2024. The delisting will not affect Woodside's primary listing on the Australian Securities Exchange (ASX) or its American Depositary Receipts (ADR) program on the New York Stock Exchange (NYSE).
Woodside shares represented by depositary interests account for approximately 1% of Woodside's issued share capital. Information on the delisting and options for depositary interest holders will be provided by Computershare. The company has provided contact details for Computershare and Citibank for further inquiries related to the transfer of LSE depositary interest holdings to ASX shares or ADRs.
Tellurian Inc. has announced its intention to voluntarily delist from the NYSE American and redeem its 8.25% Senior Notes Due 2028 following its merger with Woodside Energy Holdings (NA) The company plans to file a Form 25 with the SEC on or about October 21, 2024, with the delisting expected to become effective around October 31, 2024. Tellurian will redeem all outstanding Notes on November 8, 2024, at a price of $25.75 per note, plus accrued and unpaid interest. The Bank of New York Mellon Trust Company, N.A., as trustee, will distribute redemption notices to registered holders. Tellurian reserves the right to delay or withdraw these filings and change its plans regarding the delisting and termination of reporting obligations.
Woodside has completed the acquisition of Tellurian Inc. and its US Gulf Coast Driftwood LNG development opportunity for approximately $900 million cash, or $1.00 per share, with an implied enterprise value of about $1,200 million. The project has been renamed Woodside Louisiana LNG.
The development is an under-construction, pre-final investment decision (FID) LNG production and export terminal in Calcasieu Parish, Louisiana, with a total permitted capacity of 27.6 million tonnes per annum. Woodside CEO Meg O'Neill highlighted this as a major growth opportunity expanding their US LNG position and enabling better service to global customers.
Woodside is targeting FID readiness from the first quarter of 2025. The project is fully permitted, with completed front-end engineering design and advanced site civil works. Woodside aims to leverage its expertise in project execution, operations, and marketing to unlock the development's value.
Woodside has completed the acquisition of OCI Clean Ammonia Holding B.V., which holds a 1.1 Mtpa Clean Ammonia Project in Texas. The all-cash transaction, valued at approximately $2,350 million, positions Woodside as an early mover in the growing lower carbon ammonia market. The Project, currently under construction, aims to produce first ammonia by 2025 and lower carbon ammonia by 2026.
Key highlights:
- The Project will generate ammonia with less than 35% of the lifecycle emissions intensity of unabated ammonia
- Global ammonia demand is forecast to double by 2050, with lower carbon ammonia expected to make up nearly two-thirds of total demand
- The acquisition is expected to be free cash flow accretive from 2026
- It represents a significant step towards Woodside's Scope 3 investment and abatement targets
Woodside Energy Group (ASX: WDS) (NYSE: WDS) (LSE: WDS) is hosting a US investor event today at 10:00 EDT / 22:00 AWST. The event will provide an overview of the global LNG industry and Woodside's LNG business. CEO Meg O'Neill, CFO Graham Tiver, and CCO Mark Abbotsford will lead the presentation.
Investors can access a live webcast of the event through a provided Vimeo link. The presentation materials will be available on Woodside's website and the National Storage Mechanism. A transcript of the event will also be made available later.
This event highlights Woodside's focus on engaging with US investors and providing insights into their LNG operations, which could be significant for the company's market positioning and investor relations strategy.
Woodside Energy Group (ASX: WDS) reported strong financial results for H1 2024, with a net profit after tax of $1,937 million and an underlying net profit of $1,632 million. The company declared a fully franked interim dividend of 69 US cents per share, representing a 7.3% annualized yield. Key operational highlights include:
- Production of 89.3 MMboe (491 Mboe/d)
- Reduced unit production cost to $8.3/boe
- First oil achieved at Sangomar Project in Senegal
- Scarborough Energy Project 67% complete
- Sale of Scarborough interests to JERA and LNG Japan
- New LNG supply agreements with KOGAS and CPC
Woodside also announced plans to acquire Tellurian and OCI's Clean Ammonia Project to strengthen its LNG portfolio and position in lower carbon ammonia. The company remains focused on thriving through the energy transition while maintaining disciplined capital management.
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