Woodside Energy Ltd (WDS)

[daveh]

Future gas strategy:
https://www.woodside.com/docs/default-s ... 5bdd9ac0_3

FUTURE GAS STRATEGY SUBMISSIONS OUTLINE PIVOTAL ROLE OF GAS

Woodside Energy Group Ltd (Woodside) welcomed the opportunity to contribute to the Australian Government’s development of a Future Gas Strategy (the Strategy).

With more than 200 submissions made to the Australian Department of Industry, Science and Resources (DISR)’s consultation process, there is a growing recognition in the community of the pivotal role of gas at a time when access to secure, affordable and reliable energy supply is becoming increasingly challenged in a volatile and uncertain world.

As many submissions identified, gas will play a key role in a responsible energy transition. This was acknowledged by local and state governments, manufacturers, regional customers, power generators, think tanks and policy experts, business and industry groups, and unions.

Woodside supports all four objectives of the Strategy and sees them as interrelated goals: providing affordable and reliable energy for Australians; maintaining strategic partnerships and energy security in our region; and simultaneously progressing decarbonisation of our trading partners and decarbonisation in Australia.

[daveh]

https://www.woodside.com/docs/default-s ... b0c7da67_6

WOODSIDE PROVIDES $12.5 MILLION TO SUPPORT RICE UNIVERSITY-LED PROJECT TO ADVANCE DECARBONISATION Rice University and Woodside Energy today announced a ground-breaking five-year technology collaboration aimed at reducing greenhouse gas emissions and providing lower carbon solutions. Woodside will provide $12.5 million to fund the creation of the Woodside-Rice Decarbonisation Accelerator, an initiative that aims to bring breakthrough decarbonisation technology from the Rice labs to market. “This collaboration is a testament to the power of merging academic expertise with industry insight and support. Together, we aspire to redefine the future of energy and climate,” said Rice University President Reginald DesRoches. “Our announcement today is an important step toward achieving that task.”

[idpickering]

Fourth Quarter 2023 Report

https://www.investegate.co.uk/announcem ... rt/8003119

Ian (No holding).

[daveh]

Some detail from the report:

Reliable production

· Record full-year 2023 production of 187.2 MMboe (513 Mboe/day), at the top end of production guidance of 183 - 188 MMboe.

· Quarterly production of 48.1 MMboe (522 Mboe/day), with strong reliability of 99.9% maintained on Pluto (98.2% full year 2023).

· Quarterly revenue of $3,355 million, up 3% from Q3 2023, due to higher realised prices, partly offset by lower traded LNG volumes and timing of oil and condensate sales.

· Portfolio average realised price of $66.8/boe.

· Sold 31% of produced LNG at prices linked to gas hub indices (30% full year 2023).



Executing major projects

· The Scarborough Energy Project received secondary environmental approvals for Commonwealth waters in December and commenced all relevant offshore activities. The project was 55% complete at the end of the quarter[1]. Subsequent to the quarter, the first production well was spud and as of 22 January, approximately 57km out of 433km of pipelay has been completed.

· The Sangomar Project floating production storage and offloading (FPSO) facility sailed away from Singapore in December. The project was 94% complete at the end of the period, with 17 of 23 wells drilled and completed.

· The Trion Project continued to award contracts including for the wellheads and subsea line pipe. Procurement activities commenced for floating production unit (FPU) materials and subsea equipment.



Carbon and new energy

· The proposed Woodside Solar Project received planning approvals and State and Federal environmental approvals.

· The Angel carbon capture and storage (CCS) opportunity commenced pre-front end engineering and design (FEED) studies.

· The proposed US Federal Government tax incentive criteria are being evaluated to determine implications for the proposed H2OK Project.

and the full results will be announced

Woodside's Annual Report 2023, Climate Transition Action Plan 2023 and associated investor briefing will be released to the market on Tuesday, 27 February 2024, and will be available on Woodside's website at http://www.woodside.com/.

Board changes:
https://www.investegate.co.uk/announcem ... es/8003135

[daveh]

Woodside joins UNEP Oil and gas methane partnership 2.0

https://www.woodside.com/docs/default-s ... 15d3afd8_3

WOODSIDE JOINS UNEP OIL & GAS METHANE PARTNERSHIP 2.0

Woodside Energy has joined the United Nations Environment Programme (UNEP) Oil & Gas Methane Partnership 2.0 (OGMP 2.0), a leading measurement-based reporting framework which enables improved accuracy and transparency for methane emission reporting. A flagship program of UNEP, OGMP 2.0 is intended to provide the public assurance that methane is being managed responsibly by participating companies in the oil and gas sector.

[idpickering]

Woodside concludes discussions with Santos

Woodside has ceased discussions regarding a potential merger with Santos Ltd.

As a global energy company, Woodside continuously assesses a range of organic and inorganic growth opportunities.

Woodside CEO Meg O'Neill said that for every opportunity Woodside assesses, it conducts thorough due diligence, and will only pursue a transaction that is value accretive for its shareholders.

"We continue to be disciplined in our approach to mergers and acquisitions and capital management to create and deliver value for shareholders. While the discussions with Santos did not result in a transaction, Woodside considers that the global LNG sector provides significant potential for value creation.

"Woodside's world-class global portfolio, growth pipeline and strong balance sheet underpin our attractive investment proposition for Australian and global investors."

https://www.investegate.co.uk/announcem ... os/8025218

Ian (No holding).

[daveh]

Sangomar FPSO arrives on-site offshore Senegal:

https://www.woodside.com/docs/default-s ... 7a16dcc9_6

SANGOMAR FPSO ARRIVES IN SENEGAL

Woodside Energy announced today that the Léopold Sédar Senghor Floating Production Storage and Offloading (FPSO) facility has safely arrived offshore Senegal. This is a significant step toward achieving First Production from the Sangomar field which is targeted for mid-2024. The arrival of the FPSO from Singapore at its final destination approximately 100 kilometres offshore Dakar, Senegal, marks the commencement of the next phase of the project: commissioning the FPSO and hooking up the 23 production, gas and water injection wells that make up the Sangomar Field Development Phase 1.

[daveh]

Social Impact assessment for Trion project:
https://www.woodside.com/docs/default-s ... a315d259_3

Woodside announced today that the Trion oil and gas project has received approval for its Social Impact Assessment from the Mexican Ministry for Energy.
The Social Impact Assessment was submitted in May 2023. It provides a comprehensive assessment of the project and outlines the ways in which Woodside will manage social impacts.
“This approval marks an important milestone on the pathway to developing this nationally significant resource project,” said Woodside Executive Vice President Projects Matthew Ridolfi. “We appreciate the ongoing support we have received from the Mexican government for Trion.

[idpickering]

WDS releases Reserves Statement &financial updates

· Strategic merger with BHP Petroleum delivered high-quality resources and record production in 2023

· Top quartile proved reserves life against peer group. 158% of production replaced by proved plus probable reserves added in 2023

· Reserves additions from deepwater projects sanctioned in the Gulf of Mexico and improved performance in North West Shelf and Pluto, partly offset by reserves reductions in Shenzi

· Expected impairments associated with the goodwill and purchase price allocated to Shenzi at the time of the merger with BHP Petroleum, and Wheatstone short-term pricing, to be included in 2023 full-year financial statements

Woodside announced today that it added 266 MMboe of proved oil and gas reserves in 2023, replacing 132% percent of production, and 318 MMboe of proved plus probable reserves in 2023, replacing 158% of production.[1] Proved reserves life is 12.2 years given 2023 production levels, benchmarking in the top quartile of global peers.[2]

Woodside CEO Meg O'Neill said the reserves update reflects the quality of the larger portfolio following the merger with BHP's petroleum assets and establishes a continued platform for delivering strong shareholder returns.

"Woodside has delivered strong operational performance over the past 12 months. We achieved record production in 2023, while progressing a world-class funnel of development opportunities, which have us well positioned for growth and returns.

"Our success in integrating the strategic merger with BHP Petroleum, combined with our ability to advance major projects and improve performance has delivered a high-quality resource base that enjoys top quartile reserves life.

"We continued to see strong performance from our core assets in 2023."

https://www.investegate.co.uk/announcem ... es/8038734

Ian (No holding).

[daveh]

First modules arrive on site for the Scarborough project:
https://www.woodside.com/docs/default-s ... a780f645_3

The first three Pluto Train 2 modules for the Scarborough Energy Project have arrived in Karratha, Western Australia, marking a significant milestone for the project.

Pluto Train 2 will have an LNG processing capacity of approximately 5 million tonnes per annum (Mtpa). Additional domestic gas infrastructure will be installed at the Pluto LNG facility to increase domestic gas capacity to approximately 225 Terajoules per day.

[idpickering]

WDS to sell 15.1% Scarborough interest to JERA

Woodside has broadened its strategic relationship with JERA through a transaction that involves three core elements: equity in the Scarborough Joint Venture; LNG offtake; and collaboration on opportunities in new energy and lower carbon services.[1]

Woodside has executed a binding sale and purchase agreement with JERA for the sale of a 15.1% non-operating participating interest in the Scarborough Joint Venture (JV) for an estimated total consideration of US$1,400 million.[2] This comprises the purchase price of approximately $740 million, and reimbursement to Woodside for JERA's share of expenditure incurred from the transaction effective date of 1 January 2022. Completion of the transaction is expected in the second half of 2024.

Woodside and JERA have also entered into a non-binding heads of agreement for the sale and purchase of six LNG cargoes on a delivered ex-ship basis per year for 10 years commencing in 2026 from Woodside's global portfolio.

A non-binding agreement for new energy collaboration including potential opportunities in ammonia, hydrogen, carbon management technology and carbon capture and storage was also signed to support common decarbonisation ambitions.

https://www.investegate.co.uk/announcem ... ra/8052491

Ian (No holding).

[idpickering]

Full-Year 2023 Results and Briefing

Woodside has achieved record production of 187.2 MMboe (513 Mboe/d) and excellent operated LNG reliability of 98%. We recorded full-year net profit after tax (NPAT) of $1,660 million, and underlying NPAT of $3,320 million when adjusted for exceptional items, and operating cash flow was $6,145 million.[1]

The Directors have determined a final dividend of US 60 cents per share (cps), bringing the full-year dividend to US 140 cps. The dividend is fully franked. The value of the total full-year dividend is $2,658 million.

https://www.investegate.co.uk/announcem ... g-/8057112

Ian (No holding).

[daveh]

details of the dividend here:
https://www.investegate.co.uk/announcem ... nt/8057127

The dividend is expected to be paid on 4 April 2024 to shareholders on the register at 5.00pm AWST on 8 March 2024.

Its a big cut in the dividend last year the final was 144c and overall the dividend for the full year is down 45%.

[Arborbridge]

details of the dividend here:
https://www.investegate.co.uk/announcem ... nt/8057127

The dividend is expected to be paid on 4 April 2024 to shareholders on the register at 5.00pm AWST on 8 March 2024.

Its a big cut in the dividend last year the final was 144c and overall the dividend for the full year is down 45%.

Darn it! Well, I guess that puts any further top up in doubt.

[daveh]

Woodside and Kogas sign longterm LNG supply agreement:

https://www.woodside.com/docs/default-s ... dfc9ef5b_7

WOODSIDE AND KOGAS SIGN AGREEMENT FOR LONG-TERM LNG SUPPLY Woodside has signed a sale and purchase agreement (SPA) with Korea Gas Corporation (KOGAS) for the long-term supply of liquefied natural gas (LNG) to Korea. The SPA provides for the supply of approximately 0.5 million tonnes per annum of LNG for a period of 10.5 years on a delivered basis, commencing in 2026 subject to customary conditions precedent. LNG delivered to KOGAS under the SPA will be sourced from uncommitted volumes across Woodside’s global portfolio, including the Scarborough Energy Project which is targeting first LNG cargo in 2026.

[idpickering]

Climate Briefing Presentation

https://www.investegate.co.uk/announcem ... on/8082064

Ian (No holding).

[idpickering]

2023 FINAL DIVIDEND CURRENCY EXCHANGE RATES

On 27 February 2024, Woodside Energy Group Ltd (Woodside) declared a fully franked final dividend of 60 US cents per share in respect of its full year ended 31 December 2023 (the Final Dividend). As previously announced, the record date for the Final Dividend was 8 March 2024 and the payment date is 4 April 2024.

Woodside dividends are determined and declared in US dollars.

The US cent currency exchange rate applicable to the dividend payable in Australian dollars, British pounds sterling and New Zealand dollars is determined based on the foreign currency rates around the record date of 8 March 2024.

Dividend 0.46819037

https://www.investegate.co.uk/announcem ... nd/8084544

Ian (No holding).

[idpickering]

Publication of Notice of AGM 2024

Woodside Energy Group Limited ("Woodside" or the "Company") today publishes its Notice of Annual General Meeting for the 2024 Annual General Meeting ("AGM").

The AGM will be held on Wednesday, 24 April 2024 at 10.00am (AWST) at the Crown Ballroom at Crown Towers, Great Eastern Highway in Burswood, Perth, Western Australia and online via the Lumi electronic meeting platform.

Circulation of the Notice of AGM and related ancillary documentation to shareholders in accordance with their elections for receiving such documents from the Company will begin shortly.

https://www.investegate.co.uk/announcem ... 24/8089270

Ian (No holding).

[idpickering]

WDS completes sale of 10% Scarborough interest.

Woodside has completed the sale of a 10% non-operating participating interest in the Scarborough Joint Venture to LJ Scarborough Pty Ltd (LNG Japan).[1]

The completion follows Woodside's announcement on 8 August 2023 that it had established a strategic relationship with LNG Japan that involved three elements: equity in the Scarborough Joint Venture; potential LNG offtake; and collaboration on potential opportunities in new energy. The sale proceeds received by Woodside of US$910 million for equity in the Scarborough Joint Venture comprises the purchase price, reimbursed expenditure and escalation.[2]

https://www.investegate.co.uk/announcem ... st/8106025

Ian.

[daveh]

signs Angels CCS and Yarra collaboration

https://www.woodside.com/docs/default-s ... 465c43b_17

From last week when I was off skiing

Angel Carbon Capture and Storage JV will work with Pilbara fertilizer PTY to do feasibility study on using CCS with Pilbara's existing operations at Karratha in Western Australia.