WDS - Woodside Energy Group

[pilots]

Not looking good for our Australian top Oil mobs, look at what WPL are going to pay as
Dividend this year.

 

[jbocker]

Whoops CFO Tremaine has jumped ship, so we learn from Origin Energy ORG announcement.
No news from Woodside yet.
Hmmm maybe not a happy camp at the top?

 

[Garpal Gumnut]

I can see a big bounce on WPL due to global instability.

gg

 

[qprjames]

Woodside Petroleum dropped 6.8 per cent just the other day, after announcing its $2.5 billion capital raising last week. What are peoples opinions on this stock as it stands? Will it keep on dropping or bounce back?

 

[Knobby22]

Woodside Petroleum dropped 6.8 per cent just the other day, after announcing its $2.5 billion capital raising last week. What are peoples opinions on this stock as it stands? Will it keep on dropping or bounce back?

Capital raisings usually cause a SP drop due to selling to buy raising and dilution.
If you were happy with their prospects then nothing has changed. The gas price is the biggest factor.
My view is that it is a true blue chip and go will do OK but only OK.

 

[BlindSquirrel]

With WPL, looking at the daily chart. Technically would I be better suited to wait until circa $38 resistance is broken or see if it gets to the bottom of its current channel - likely around $34 - and jump in?
Momentum suggests it's still on the up.

... or am I way off base?
(Paging @tech/a!)

 

[galumay]

What happens is probably largely dependent on the current argy bargy between the US and Iran. I dont have a crystal ball so i have no idea, but it will either go up, down or stay the same.

 

[barney]

Lots of Oilers struggling lately …

The POO has tested the $50 area a few times since late last year. If it breaks that, it will likely test last December lows around $43 ….

Until then I guess WPL etc will meander. Today's announcement (condensed and main points highlighted) + Chart


ASX Announcement CONDENSED/Shortened/Main points highlighted

Monday, 26 August 2019

FIRST OIL FROM GREATER ENFIELD


Woodside advises that on 25 August 2019 the Greater Enfield Project produced first oil through the Ngujima-Yin floating production storage and offloading vessel (FPSO).

Total investment for the project was approximately US$1.9 billion (100%).

Woodside CEO Peter Coleman said first oil from Greater Enfield was produced on schedule and under the project’s budgeted cost.

Production from the Greater Enfield reservoirs is an important contribution to Woodside’s targeted annual production of approximately 100 MMboe in 2020.

The Greater Enfield Project is a joint venture between Woodside Energy Ltd (Operator, 60%) and Mitsui E&P Australia Pty Ltd (40%).

 

[Garpal Gumnut]

If WPL wanders down towards $27 I'll be in like Flynn.

I mean to say, what do you put in your motor. ??

Wind, Sunlight or Gasoline.

gg

 

[jbocker]

A big increase 52% in the Scarborough Field to 11.1 TCF without drilling a hole is very good news. That is better than discovering a new field which would require quite some costs in appraisal drilling after its discovery. The increase was made by reviewing all the data by applying up to date re-evaluations of the field via 3D seismic, petroleum engineering and other sources. Details here...
https://www.asx.com.au/asxpdf/20191108/pdf/44bd914nw00265.pdf
Should help with any FID on developing and producing from the field.

 

[barney]

Chart tells the story of the last couple of months … Following the POO as expected.

 

[qldfrog]

https://www.abc.net.au/news/2019-11...cease-environment-safety/11691040?pfmredir=sm
Not nice to see woodside mentioned here...
An interesting fact also, when offshore oil extraction is not profitable anymore, not as easy as on land to stop production
And we can expect these to fail first

 

[jbocker]

https://www.abc.net.au/news/2019-11...cease-environment-safety/11691040?pfmredir=sm
Not nice to see woodside mentioned here...
An interesting fact also, when offshore oil extraction is not profitable anymore, not as easy as on land to stop production
And we can expect these to fail first

Maybe govt should run oil producing assets 'over the pits' before sales are completed. Then ensure future cost of liability and capability to pay is held with the new owner. This may prevent future problems.
Govt would have had a lot of royalties from the project and probably not too much to expect to cover the costs in this case. Hopefully the new owner can get things sorted.

 

[jbocker]

A question to chartists. I know JS about the subject, But this reflect anything. I note low trade vol in Dec2019 but have included in the chart Dec 2018. The price is rising but volume seems subdued. Is an indication that price is rising because there isn't so much around to buy. (You can see NOW how little I know ). The chat is WPL.

 

[Trav.]

A question to chartists

@jbocker I saw you post yesterday and thought I would wait and see what the experts say, but they must be busy plotting there next million $$$ trade

My chart says that WPL is due for a bearish turn ( marked at point D ) but obviously a lot going on in the world that may change this.

It will be interesting to watch and see how this pans out.

 

[barney]

My chart says that WPL is due for a bearish turn ( marked at point D ) but obviously a lot going on in the world that may change this.

Yeah tend to agree Trav … The Trump factor might come into play.

@jbocker … I find reading Volume on the big Blue chips tough but the POO was knocked down yesterday following on from last Friday's push/fail above recent 7 month highs.

Oil tonight is trading around 1 month lows so WPL probably down a bit further on the open tomorrow (today its late!) … but more likely trade a range between $35-36 in the short term before anything definitive, but that is just a semi educated guess​

 

[jbocker]

Thank You @Trav. and @barney for responding to my query. I really appreciate your time and thoughts!
Yesterday WPL announced approval for a new FPSO in Senegal first production due in 2023. Another 100,00bbls/d production from an FPSO is good news. Also have other development options with respect to gas from the same area.

 

[Ferret]

Yesterday WPL announced approval for a new FPSO in Senegal first production due in 2023. Another 100,00bbls/d production from an FPSO is good news. Also have other development options with respect to gas from the same area.

I wonder about this. Woodside were burnt in Africa 10 or so years ago.

So many foreign miners and oil companies have found it hard going there.

 

[jbocker]

I wonder about this. Woodside were burnt in Africa 10 or so years ago.

So many foreign miners and oil companies have found it hard going there.

I recall the offshore Mauritania (Chinguetti) development in an entirely new province, from memory Woodsides' first FPSO venture outside Australia and they were challenged on all fronts having the 1st development in a new country. Senegal is in a more established oil/gas province. There is some text about this being the first oil development offshore Senegal (which surprised me). Hopefully they have retained a lot of learnings even though they have an entirely different management now.
Your concerns would be quite justified @Ferret . For holders lets hope they have far greater success.

 

[jbocker]

Picking WPL in this months comp. Along with others it has copped a flogging last month. If there is a recovery this month I am punting (in this comp) the larger ASX companies might be first cabs off the rank, albeit difficult to generate a nice % uplift at this price.