Woodside Petroleum
The parent company of the Woodside Group of Companies, the Woodside Petroleum Limited (WPL) is an Australian-based company engaged in the operation and management of hydrocarbon exploration, production, development, marketing and transportation, operation and implementation of the North West Shelf Gas Project as well as the condensate reserves, gas and oil exploration and development. WPL was listed on the Australian Stock Exchange on the 18th of November 1971. Its average annual revenue reaches approximately $3 billion out of its issued capital of approximately $700 million.
Australia based Woodside Petroleum (WPL) has declared that its revenue for the year 2009 has fallen by as much as 27 percent because of the low gas and oil prices, and due to reduction in natural resources and unplanned outages at some of the Australian operations of the company that kept output at a lower end of expectations.
Woodside Petroleum (WPL), an Australia based Company had a multibillion-dollar off-take agreement abandoned due to the delay with its Browse Basin development in Western Australia as the delay led PetroChina- the largest energy company of China to abandon its option to take up to 60 million tonnes of the liquefied natural gas. This was the biggest export deal that a local company managed to strike.
Australia based Woodside Petroleum (WPL) is planning to raise $2.5 billion through equity offer in an attempt to achieve a stronger balance sheet as the company is looking forward to move with its liquefied natural gas (LNG) projects. Royal Dutch Shell, a major stakeholder will invest an additional $862 million in the company's shares to retain 34 percent of the stake and is expected to take up its entitlement in full.
The Australian company Woodside Petroleum (WPL), which focuses on operation and management of hydrocarbon exploration, production, marketing, development, and transportation, operation and execution of the North West Shelf Gas Project has taken further initiatives to secure funds for the investments in a number of Australian gas assets by issuing $US700 million worth of corporate bonds in the United States.
Woodside Petroleum (WPL) released its 4Q report on Thursday. The company has reported an increase in the output by 28% and has said its profits will be high when compared to last year. Woodside also reported profit was expected to be reduced by various significant items, such as a write-down charge for the now suspended OceanWay gas development in California, which could amount to around $50 million after tax.
Spotless Group (SPT) was the overall best performing stock taking in a 18.21 percent increase. Among the best performing stocks for the week 24 of 2008 on the Australian sharemarket was a mixture of toll road development, oil and gas exploration, retail services, mineral and mining: Transurban Group (TLC), Woodside Petroleum (WPL), Santos (STO), Spotless Group (SPT), JB Hi-Fi (JBH), Mincor Resources (MCR). These top gainers for the week 24 managed above 6.79 percent by the end of the trading week.
Australian Equity Strategy Update provided by Australian stockmarket analyst Macquarie Research Equities.
Model Portfolio Update
Reducing Energy - Preference For Diversifieds:
We remain overweight diversified resources (where valuations appear reasonable), and have moved energy down from benchmark to underweight, as we believe valuations in the sector are looking stretched, as is the oil price in our view.
Accumulating Banks:
Here is an Australian Energy update from Australian market analyst UBS.
What do WPL, STO and OSH look like at US$100/bbl oil price parity for LNG?
Is our LT assumption of US$10/mmbtu conservative?:
We have recently upgraded the UBS our oil price forecast by a material amount, but we have left our long term Asia Pacific LNG pricing assumption of US$10/mmbtu unchanged. Is this too conservative?
Asia Pacific LNG prices are moving towards oil price parity:
Here is an update on the comparison of Australia's equity strategy Vs the world from Australian market analyst UBS.
Equity Strategy – Australia vs The World
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- ANZ
- News Corporation (NWS)
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- AMP Limited (AMP)
- Maquarie Group (MQG)
- Foster’s Group Limited (FGL)



