Woodside Petroleum Ltd. ADR (WOPEY) - OTCPK - Current
  • Wed, Feb. 17, 7:44 AM
    • FY 2015 profit at Woodside Petroleum (OTCPK:WOPEF, OTCPK:WOPEY), Australia's largest independent oil and gas company, was nearly wiped out by the plunge in oil prices and hefty impairment charges.
    • Woodside says its 2015 net profit fell 99% Y/Y to US$26M from $2.41B in the prior year, despite achieving its second highest production result, squeezed by $1.1B in charges, mostly in impairments against the value of assets due to reduced oil price assumptions; stripping out one-time items, full-year profit was $1.13B, while revenue from operations fell 32% to $5.03B.
    • The company plans to pay a final dividend of US$0.43/share, down from a record payout for the same period last year of $1.44; for the year, the dividend falls to $1.09 from $2.55 for 2014.
    • Woodside says its proposed Browse liquefied natural gas project in Australia requires further cost reductions and does not have any firm sales; Goldman analyst Mark Wiseman says Browse is "highly unlikely” to make significant progress toward approval.
    • Nevertheless, CEO Peter Coleman says Woodside is "well positioned to withstand the commodity cycle," noting an overall 8% Y/Y decrease in unit production costs in 2015, with a 7% decrease in gas unit costs and a 17% decrease in oil production unit costs.
    | Wed, Feb. 17, 7:44 AM
  • Aug. 20, 2014, 9:51 AM
    • Woodside Petroleum (OTCPK:WOPEF, OTCPK:WOPEY) says it booked record first-half profit of $1.1B as it focuses on new exploration basins in frontier markets.
    • Underlying profit, which stripped out losses linked to an asset sale in the Gulf of Mexico, jumped 33% Y/Y to $1.14B, in line with analyst forecasts.
    • H1 revenues rose 24% Y/Y to $3.55B, helped by the resumption of oil output at Vincent after being idled for almost a year, combined with a full year of reliable production from the Pluto gas-export project offshore northwestern Australia.
    • CEO Peter Coleman sees improved M&A opportunities; asked if Woodside would be interested in any Apache (NYSE:APA) assets in Australia, including the Wheatstone stake, the CEO said his company will “continue to look at those assets and other assets around the world.”
    | Aug. 20, 2014, 9:51 AM | 1 Comment
Company Description
Woodside Petroleum is engaged in hydrocarbon exploration, development and production.
Industry: Oil & Gas Drilling & Exploration
Country: Australia