Welcome to our dedicated page for Woodside news (Ticker: WDS), a resource for investors and traders seeking the latest updates and insights on Woodside stock.
Overview
Woodside Ltd (WDS) is a prominent Australian oil and gas company known for its expertise in upstream oil and gas, LNG production, and energy exploration. With a history rooted in exploration dating back to the mid-20th century, Woodside has evolved into a global operator with a significant presence in challenging terrains and remote regions. Its core business revolves around the exploration, development, production, and supply of natural gas and other energy resources, establishing it as a respected entity in its industry.
Business Model and Operations
Woodside operates as an integrated energy company that combines exploration with the development and production of oil and gas assets. The company’s diversified portfolio includes both mature producing facilities and explorative ventures in frontier provinces. Its robust operations emphasize operational excellence, safety, and environmental stewardship. The company has built a reputation by investing in and developing world-class LNG assets, particularly in the North West of Australia, which underscores its technical capabilities and asset quality.
Historical Context and Evolution
Incorporated in 1954 and named after a small Victorian town, Woodside initially focused on exploration in Victoria's Gippsland Basin before extending its operations to Western Australia’s Carnarvon Basin. The company marked significant milestones with the commencement of LNG production from the North West Shelf, which has since become synonymous with its operational excellence. Its historical evolution reflects an organic transition from regional exploration to becoming a globally recognized player in the oil and gas market.
Core Capabilities and Competitive Position
Woodside distinguishes itself through a blend of technical expertise, comprehensive operational capabilities, and sustainable business practices. The company’s operations are characterized by a commitment to strong safety protocols and environmental performance, even in the most remote and challenging operational areas. The integration of its core values – integrity, respect, discipline, excellence, and teamwork – enhances its reputation and builds trust with stakeholders and local communities. Its LNG facilities are recognized as among the best globally, reinforcing its competitive position against other well-established players in the energy sector.
Operational Excellence and Community Engagement
With a focus on operational resilience and community relationships, Woodside emphasizes the importance of meaningful, long-term partnerships with communities where it operates. This strategic approach not only satisfies regulatory requirements but also fosters sustainable relationships that help maintain its licence to operate. The company’s dedication to safety and environmental stewardship is evident in every aspect of its operations, underscoring a culture of discipline and excellence that permeates its business practices.
Industry Context
Operating in a dynamic and competitive oil and gas sector, Woodside navigates the complexities of global energy demand and market fluctuations with a balanced approach toward exploration and production. The company competes with other international oil and gas giants by leveraging its deep reservoir of industry knowledge, technical prowess, and advanced operational infrastructure. Its strategic investments in technology and process optimization enable it to maintain operational efficiency and resilience in a highly competitive market.
Expertise and Value Proposition
Woodside’s value proposition lies in its robust operational framework, comprehensive asset portfolio, and steadfast adherence to a values-driven culture. The company’s extensive experience and consistent performance across diverse geographical regions provide a strong foundation for its continued relevance in the global energy landscape. By focusing on proven operational capabilities rather than speculative future ventures, Woodside provides a clear and detailed picture of its role as a major player in the energy sector, offering valuable insights for industry analysts and stakeholders alike.
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.
Woodside has entered into a binding agreement to acquire OCI Clean Ammonia Holding B.V. and its lower carbon ammonia project in Beaumont, Texas for $2,350 million. The project, currently under construction, aims to produce first ammonia by 2025 and lower carbon ammonia by 2026. With a design capacity of 1.1 Mtpa in Phase 1, the project is expected to exceed Woodside's 10% internal rate of return target for new energy projects. The acquisition supports Woodside's strategy to thrive through the energy transition, positioning the company in the growing lower carbon ammonia market. The project has the capacity to abate 3.2 Mtpa CO2-e at full development, representing over 60% of Woodside's Scope 3 abatement target.
Woodside has entered into a definitive agreement to acquire Tellurian (NYSE: TELL) and its Driftwood LNG development for approximately $900 million, or $1.00 per share. The acquisition positions Woodside as a global LNG powerhouse, adding a scalable, fully permitted 27.6 million tonnes per annum (Mtpa) US LNG development option to its portfolio.
The Driftwood LNG project is located near Lake Charles, Louisiana, and comprises five LNG trains through four phases. Woodside is targeting FID readiness for Phase 1 (11 Mtpa) from Q1 2025. The development is fully permitted, cost and carbon competitive, with construction already underway.
This strategic move aligns with Woodside's goal to thrive through the energy transition, expanding its position as a leading independent LNG company and enabling value creation through marketing optimization and geographic diversification.
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