Woodside Petroleum Limited

Published : February 13th, 2018

Australia's Woodside reports 18 pct rise in annual profit

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Keywords :   Australia | Barrel | Billion | Crude | Forecast | Georgia | Oil | Prices | Rates |

Australia's Woodside reports 18 pct rise in annual profit

(Adds equity raising to fund Scarborough deal, revenue, comment from chief executive)

Feb 14 (Reuters) - Woodside Petroleum on Wednesday reported an 18 percent rise in annual profit and said it would acquire an additional 50 percent stake in the Scarborough gas field in Western Australia from Exxon Mobil Corp for $444 million.

To fund its Scarborough expansion, Woodside said it would raise A$2.5 billion from shareholders.

Australia's top oil and gas producer posted net profit of $1.02 billion for 2017, up from $868 million last year, helped by higher oil and gas prices, and cost cuts. This missed estimates of $1.06 billion according to Thomson Reuters I/B/E/S, by a small margin.

Woodside declared a full-year dividend of $0.98 per share, up from $0.83 a share a year ago.

The company's operating revenue came in at $3.91 billion compared with $4.08 billion a year ago, underpinned by a rise in crude oil prices. Oil prices stand at around $62.56 per barrel.

The company maintained its forecast for 2018 output at 85 million to 90 million barrels of oil equivalent (mmboe) as production ramps up at the Wheatstone LNG project in Australia, operated by Chevron Corp.

Woodside bought into the Wheatstone project in 2015 and expects it to contribute more than 13 million barrels of oil equivalent to annual output when it hits full capacity.

The company's fourth quarter output was boosted by one cargo from the first LNG production unit, or train, at Wheatstone. The plant's second train is due to start up in the June quarter of this year.

“The safe start-up of Wheatstone LNG Train 1 was a significant milestone for the company and we look forward to the delivery of LNG Train 2 and the domestic gas facility this year while supporting the operator to optimise lifting costs and maximise production rates.” Woodside Chief Executive Peter Coleman said in a statement. (Reporting by Susan Mathew in Bengaluru; Editing by Sandra Maler)

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Woodside Petroleum Limited

CODE : WPL.AX
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Woodside Petroleum is an exploration oil company based in Australia.

Woodside Petroleum is listed in Australia and in Germany. Its market capitalisation is AU$ 26.2 billions as of today (US$ 20.8 billions, € 16.6 billions).

Its stock quote reached its lowest recent point on September 30, 2011 at AU$ 21.90, and its highest recent level on September 05, 2014 at AU$ 38.86.

Woodside Petroleum has 842 440 000 shares outstanding.

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Annual reports of Woodside Petroleum Limited
2007 Annual Report
Nominations of Woodside Petroleum Limited
5/18/2011Appointment of Non-Executive Director
5/12/2011Appoints New CEO
Financials of Woodside Petroleum Limited
7/19/2011Second Quarter 2011 Report
Project news of Woodside Petroleum Limited
9/5/2016Woodside buys half of BHP's stake in Australian gas fields f...
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7/14/2016ConocoPhillips to sell more than $350M in deepwater explorat...
7/14/2016Woodside's proposed acquisition of Conoco's Senegal interest
5/5/2011Oil Discovery at Laverda North
Corporate news of Woodside Petroleum Limited
9/5/2016Woodside to buy into BHP LNG assets
9/5/2016Woodside to buy into BHP's Scarborough
9/1/2016 Notification of dividend
8/19/2016Interim 2016 Woodside Petroleum Ltd Earnings Release - Time ...
8/19/201619.08.2016 2016 Half-Year Results - Teleconference
8/19/2016Woodside Sees Lower LNG Prices as Buyers Push Contract Chang...
8/19/2016Asian Markets Mixed, but Benefit From Stronger Dollar
8/19/2016Aust shares up on mining, banks strength
8/19/2016Edited Transcript of WPL.AX earnings conference call or pres...
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7/21/2016Woodside revenue hit by low oil prices
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7/20/2016Woodside Second-Quarter Sales Decline 8% as Energy Prices Sl...
7/14/2016Woodside Buys ConocoPhillips' Assets in Senegal for $350M
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7/14/2016Woodside in $460m Senegal deal
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7/13/2016Woodside to buy ConocoPhillips' Senegal holdings for $350 ml...
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6/27/201627.06.2016 Greater Enfield Oil Development Approved
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5/20/2016Woodside buoyed by Myanmar gas estimate
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5/19/201620.05.2016 2016 Investor Briefing Day
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2/1/201601.02.2016 Update on Wheatstone Schedule
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4/10/2015Apache Completes Sale of Kitimat LNG
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3/24/2015Woodside axes 300 jobs and freezes pay
3/24/2015Woodside cuts 300 jobs and freezes pay
3/20/2015Woodside restarts Pluto after close shave
3/16/2015Woodside halts Pluto production
2/17/2015Woodside Petroleum Profit Jumps
9/6/2011Appendix 3Y (Cilento)
8/23/20112011 Half Year Shareholder Review
8/17/20112011 Woodside Half-Year Results
6/30/2011Executes Browse Native Title Agreement
6/23/2011Appendix 3Y (Coleman)
6/23/2011=?utf-8?Q?Media_Release_-_Woodside,_Clontarf_and_Fr?==e2?=8b...
6/17/2011Pluto Cost and Schedule Update
5/23/2011Discovers Gas at Xeres-1
5/6/2011Claim Group Approves Proposal for Browse LNG Precinct
5/5/2011to issue US$700 million in corporate bonds & Appendix 3Y (Ci...
10/13/2010Succession Plan Commenced For CEO
1/25/2010Gas Encountered in Noblige Well
10/6/2009DRP Notice Under Section 708A of the Corporations Act
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AUSTRALIA (WPL.AX)FRANKFURT (WOPA.F)
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AUSTRALIA
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