Woodside Energy Group (NYSE:WDS) Stock

Woodside Energy Group

Incorporated in 1954 and named after the small Victorian town of Woodside, Woodside's early exploration focus moved from Victoria's Gippsland Basin to Western Australia's Carnarvon Basin. First LNG production from the North West Shelf came in 1984. BHP Billiton and Shell each had 40% shareholdings before BHP sold out in 1994 and Shell sold down to 34%. In 2010, Shell further decreased its shareholding to 24%. Woodside has the potential to become the most LNG-leveraged company globally.

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Chart Industries, Inc. secures order from Bechtel for Woodside Energy&#39;s Louisiana LNG project, boosting clean energy solutions with IPSMR technology.

Chart Industries Lands LNG Deal: Powering Woodside Energy&#39;s Louisiana Expansion

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In addition to the latest deal coverage, we include a snippet from our exclusive chat with Tony Roma&#39;s CEO Mina Haque.

Deal Dispatch: Honeywell, Textron And Soho House Are Making M&amp;A Moves

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Chevron and Woodside finalize asset swap deal with cash payments and future opportunities for decarbonization and LNG production.

Chevron, Woodside Finalize Asset Swap In $400 Million Deal

Woodside Energy Group Limited American Depositary Shares, each representing one Ordinary Share

Woodside Energy Group Ltd

WORLD SCAN PROJ INC by WORLD SCAN PROJ INC

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Shares of oil and gas companies are trading lower amid a rise in US crude inventories.

Woodside Energy Group shares are trading lower. The company reported Q4 financial results and provided FY25 guidance.

Production
<ul>
<li>Woodside's full-year 2025 production guidance is 186 – 196 MMboe (510 – 537 Mboe/day). This excludes volumes from Beaumont New Ammonia.</li>
<li>The approximate split by product type is:</li>
</ul>
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1">LNG</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">~40%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Pipeline gas</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">~20%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Crude and condensate</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">~35%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Natural gas liquids</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">~5%</td>
</tr>
</tbody>
</table>
</figure>

Earnings

Guidance

Woodside Provides 2025 Guidance: Sees 186–196 MMboe Production And $4.5B–5B Capex Allocation

Operations
<ul>
<li>Outstanding production from Sangomar with 75 Mboe/day produced in the quarter, driving record full-year production of 194 MMboe (530 Mboe/day), at the top end of the 2024 full-year production guidance range.</li>
<li>Quarterly production of 51.4 MMboe. (559 Mboe/day), down 3% from Q3 2024 due to lower seasonal demand at Bass Strait and an unplanned shutdown at Pluto, partly offset by increased production at Sangomar.</li>
<li>Quarterly revenue of $3,470 million, down 6% from Q3 2024 primarily due to lower seasonal demand at Bass Strait, partly offset by higher third-party LNG trades.</li>
<li>Sold 33.6% of produced LNG at prices linked to gas hub indices in the quarter (12.8% of total equity production), realising a 31% premium compared to oil-linked pricing.</li>
</ul>
Projects
<ul>
<li>The Scarborough Energy project was 78% complete at the end of the quarter, with the final Pluto Train 2 modules arriving at the Pluto LNG site in December. The project remains on target for first LNG cargo in 2026.</li>
<li>The Trion project was 20% complete at the end of the quarter, with construction of the floating production unit commencing in November. First oil is targeted for 2028.</li>
<li>Continued construction of the Beaumont New Ammonia project with Phase 1 of the project on track for start up in the second half of 2025.</li>
</ul>

Reported Earlier, Woodside Energy Q4 Revenue $3.47B Up From $3.355B YoY

Chart Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GTLS#NYSE">GTLS</a>) secured an order from Bechtel to supply its Integrated Pre-Cooled Single Mixed Refrigerant liquefaction technology and cold boxes for Phase 1 of Woodside Energy Group&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WDS#NYSE">WDS</a>) <a target="_blank" href="https://www.benzinga.com/pressreleases/24/12/g42739186/bechtel-and-woodside-place-woodside-louisiana-lng-phase-1-order-to-chart-industries" rel="noreferrer noopener">Louisiana LNG project.</a>
The project, managed by Bechtel and owned by Woodside, was previously known as the Driftwood LNG project.
Under the order awarded this month, Chart Industries will support Phase 1 of the Louisiana LNG project by providing two LNG plants with 16 cold boxes for 11 MTPA of production.
Each plant will include four Heavies Removal Cold Boxes and four LNG Liquefaction Cold Boxes.
Chart&#8217;s IPSMR process, known for its energy efficiency and reliability, will be a key component in Woodside Energy&#8217;s efforts to deliver cleaner energy solutions.
Jill Evanko, CEO and President of Chart Industries, said, &#8220;Our IPSMR technology and associated equipment will play a key role in supporting Woodside&#8217;s LNG production on schedule, delivering both efficiency and sustainability to meet global energy needs.&#8221;
As of September 30, Chart Industries held cash and equivalents <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/g41679040/chart-industries-reports-third-quarter-2024-financial-results" rel="noreferrer noopener">of $312.5 million</a>.
Price Action: GTLS shares are up 1.25% at $192.98 at the last check Tuesday.
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Image via Shutterstock.

Chart Industries Lands LNG Deal: Powering Woodside Energy's Louisiana Expansion

Chart Industries Received The Order From Bechtel For The Supply Of Our Integrated Pre-cooled Single Mixed Refrigerant  Liquefaction Technology And Cold Boxes For Phase 1 Of Woodside Energy Group's Louisiana LNG Development Opportunity

The Scarborough Energy Project has passed another significant milestone with the final Pluto Train 2 modules arriving at the Pluto LNG facility in Karratha, Western Australia.
The successful completion of the Pluto Train 2 module program advances the Scarborough Energy Project towards the targeted delivery of first LNG in 2026.
Since February 2024, a total of 51 modules, weighing a combined 56,000 metric tonnes, have been shipped to Karratha from the module yard in Batam, Indonesia, where they were built.
Expanding the Pluto LNG facility to include a second LNG processing train provides an efficient way to process gas from the offshore Scarborough field.

Reported Earlier, Woodside's Scarborough LNG Project Reaches New Heights With Delivery Of Final Pluto Train 2 Components

<h2 class="wp-block-heading">New On The Block</h2>
Honeywell (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>) is back at it again with big plans and boardroom brainstorms. This time, the Charlotte, North Carolina-based company is considering sending its aerospace business <a href="https://www.benzinga.com/news/asset-sales/24/12/42505835/honeywell-advances-strategic-review-explores-aerospace-business-separation">off to fly solo</a>. Recently, Honeywell unveiled plans to spin off its Advanced Materials business into a standalone public company by late 2025 or early 2026. Additionally, the company is selling its Personal Protective Equipment (PPE) business to Protective Industrial Products for $<a href="https://www.benzinga.com/24/11/42140202/honeywell-to-exit-ppe-business-with-1325-billion-sale-plans-advanced-materials-spinoff">1.325 billion in cash</a>.
Textron Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TXT#NYSE">TXT</a>) has decided it's time to <a href="https://www.benzinga.com/news/guidance/24/12/42558931/textron-hits-the-brakes-on-powersports-strategic-shift-amid-soft-demand">hit the brakes on</a> its Powersports product line, part of the Industrial segment&#8217;s Textron Specialized Vehicles business. The segment manufactures snowmobiles and off-road vehicles under the Arctic Cat label. Deere &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>) is rumored to be interested in acquiring it. Textron expects to wrap up its restructuring in the first half of the new year.
DLocal, a Latin American payments provider with a market value of about $3.6 billion, is on the auction block. The Montevideo, Uruguay-based company hired Morgan Stanley to gauge takeover offers from bidders. Private equity firm General Atlantic is DLocal&#8217;s largest shareholder.
<h2 class="wp-block-heading">Updates From The Block</h2>
The European Commission <a href="https://www.benzinga.com/government/regulations/24/12/42621868/nvidia-secures-eu-approval-for-runai-deal-us-probes-china-export-breach">granted unconditional approval</a> for Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) to acquire Run:ai Labs Ltd, an Israel-based provider of GPU orchestration software. The decision under the EU Merger Regulation concluded the acquisition would not raise competition concerns within the European Economic Area. Nvidia aims to integrate Run: ai&#8217;s software into its ecosystem. Run:ai specializes in software that helps organizations optimize and manage their artificial intelligence compute workloads across various environments, including on-premises and cloud platforms.
Soho House's billionaire chairman Ron Burkle wants to whisk the private members' club away from the U.S. stock market. Burkle and his squad of investors have thrown down a flashy <a href="https://www.benzinga.com/24/12/42597812/soho-house-jumps-over-50-on-receiving-acquisition-offer-with-83-premium">$1.8 billion buyout bid</a>, offering $9 per share—a snazzy 83% premium to the stock&#8217;s closing price on Wednesday, Dec. 18. This isn't Soho House's first flirtation with delisting. Just a few months ago, it turned down a mysterious suitor's offer.
See Also: <a href="https://www.benzinga.com/markets/equities/24/12/42646591/novo-nordisk-rises-5-in-premarket-as-analyst-dismisses-fridays-17-plunge-as-market-overreaction">Novo Nordisk Rises 5% In Premarket As Analyst Dismisses Friday&#8217;s 17% Plunge As Market Overreaction</a>
<h2 class="wp-block-heading">Off The Block</h2>
Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) and Woodside Energy Group Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WDS#NYSE">WDS</a>) <a href="https://www.benzinga.com/news/contracts/24/12/42584936/chevron-secures-larger-north-west-shelf-stake-in-asset-swap-400m-payment-to-woodside">finalized an asset swap deal</a> on Wednesday. As part of the agreement, Woodside will transfer its 13% non-operated interest in the Wheatstone Project and its 65% operated interest in the Julimar-Brunello Project in Western Australia. In return, Woodside will acquire Chevron&#8217;s 16.67% stakes in the North West Shelf Project and the NWS Oil Project, along with a 20% interest in the Angel Carbon Capture and Storage Project. Additionally, Chevron will make a cash payment to Woodside of up to $400 million. This includes a $300 million payment at completion, and contingency payments of up to $100 million, tied to the handover of the Julimar Phase 3 Project and subsequent production performance.
<h2 class="wp-block-heading">Bankruptcy Block</h2>
Furnishing and retailer Big Lots Inc.&#8216;s Chapter 11 bankruptcy filing in September and impending store closures could benefit rival Ollie&#8217;s Bargain Outlet Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLLI#NASDAQ">OLLI</a>), JPMorgan analyst Matthew R. Boss says. On Sept. 9, Big Lots filed for Chapter 11 and announced a subsequent sale of its assets to Nexus Capital Management LP. The company&#8217;s stock was subsequently delisted from the New York Stock Exchange. Its third-quarter financial report revealed a company struggling with declining sales, eroding margins and a continual bleeding of cash. On Dec. 19, the Columbus, Ohio-based company said its sale to Nexus Capital fell through, noting it &#8220;continues to work toward completing an alternative going concern transaction with Nexus or another party.&#8221; CEO Bruce Thorn announced a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42624759/big-lots-holds-liquidation-sales-analyst-pegs-competitor-as-major-beneficiary-market-share-capture-opportunity">going-out-of-business sale</a>.
FTX announced that its<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42151412/bankrupt-crypto-exchange-ftx-to-commence-payments-to-customers-creditors-in-early-2025"> Chapter 11 bankruptcy reorganization plan</a> will become effective on Jan. 3, 2025. Customer and creditor distributions will be facilitated through partnerships with cryptocurrency platforms Kraken and BitGo. The first round of distributions is expected to occur within 60 days of the plan's effective date. The initial distribution will cover holders of allowed claims in the Convenience Classes, while timelines for other claim classes will be announced later.
<h2 class="wp-block-heading">Notes From The Block</h2>
Benzinga recently interviewed Tony Roma&#8217;s CEO Mohaimina (Mina) Haque on a variety of topics, including the restaurant chain&#8217;s capital raising initiatives:
<h3 class="wp-block-heading">BZ: What's the global stage look like?</h3>
There's a lot of interest globally. We are in Dubai and Berlin as well as Kuala Lumpur, Malaysia and Perth, Australia. There is a lot of brand awareness. Stateside, as Gen Z and millennials were growing up, there was a decrease in unit size. So, we are working on building that bridge between those who are nostalgic for Tony Roma's and those who haven't experienced it yet. There are challenges, including the supply chain and ensuring that franchise partners uphold our intellectual property.
<h3 class="wp-block-heading">BZ: Is M&amp;A still on the cards?</h3>
It is a possibility. We have parties interested in helping us to expand our global and national footprint. So, it's still in the cards, with either a venture capital or private equity firm. For anyone interested and who wants to see more explosive growth for the company, we are looking for partners capable of heavy capital infusion.
<h3 class="wp-block-heading">BZ: What size investment do you think would you go to ballpark it?</h3>
If I have to ballpark it, maybe somewhere between $10 million and $20 million
For the <a href="https://www.benzinga.com/general/restaurants/24/12/42553401/comfort-food-comeback-how-mina-haque-plans-to-make-tony-romas-sizzle-again">full Q&amp;A, click here</a>.
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Deal Dispatch: Honeywell, Textron And Soho House Are Making M&A Moves

Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) and Woodside Energy Group Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WDS#NYSE">WDS</a>) <a href="https://www.benzinga.com/pressreleases/24/12/b42566747/woodside-simplifies-portfolio-and-unlocks-long-term-value" target="_blank" rel="noreferrer noopener">finalized an asset swap deal</a> on Wednesday.
What Happened: Woodside will transfer its 13% non-operated interest in the Wheatstone Project and its 65% operated interest in the Julimar-Brunello Project in Western Australia.
In return, Woodside will acquire Chevron&#8217;s 16.67% stakes in the North West Shelf Project and the NWS Oil Project, along with a 20% interest in the Angel Carbon Capture and Storage Project.
Additionally, Chevron will make a cash payment to Woodside of up to $400 million. This includes a $300 million payment at completion, and contingency payments of up to $100 million, tied to the handover of the Julimar Phase 3 Project and subsequent production performance.
Additionally, cashflows of around $400 million are forecasted from utilizing depreciable tax bases upon completion.
Chevron will also provide Woodside with a $100 million advance payment upon execution of the transaction, which is refundable by Woodside if the transaction is not complete.
The transaction is expected to close in 2026 since it is contingent upon the completion of the Julimar Phase 3 Project execution and handover.
Why It Matters: The Julimar Phase 3 Project is currently in the execution phase. Woodside will continue to manage it until the asset is transferred to Chevron at the project start-up.
Woodside CEO Meg O&#8217;Neill said, &#8220;This transaction simplifies our portfolio, improving our focus and efficiency by consolidating our position in our operated LNG assets. It is immediately cash flow accretive and includes a cash payment upon both execution and completion.&#8221;
&#8220;This year, the North West Shelf Project and its Karratha Gas Plant celebrated 40 years of operations. The Western Australian Government&#8217;s recent decision to extend the environmental approval for the North West Shelf Project supports its ongoing contribution to reliable energy supply for local and global customers.&#8221;
&#8221;This transaction creates greater opportunity to fill emerging processing capacity and maximise value accretive recovery from the North West Shelf Project.&#8221;
&#8220;Additionally, this improves joint venture planning for decarbonization opportunities at Karratha Gas Plant. Our increased equity in the Angel CCS Project also supports future development of this large-scale, multi-user carbon capture and storage hub in Western Australia.&#8221;
Price Action: Chevron shares rose 0.29% at $144.50, while WDS shares are up 1.53% at $14.60  premarket on Thursday.
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Image: Shutterstock

Woodside and Chevron have agreed to an asset swap under which Woodside will acquire Chevron's interest in the North West Shelf (NWS) Project, the NWS Oil Project and the Angel Carbon Capture and Storage (CCS) Project, and transfer all of its interest in both the Wheatstone and Julimar-Brunello Projects to Chevron. Chevron will also make a cash payment to Woodside of up to $400 million.
The transaction highlights include:
<ul>
<li>Streamlines Australian portfolio and consolidates focus on operated LNG assets;</li>
<li>Simplifies NWS joint venture ownership, unlocking economic recovery of existing production and future development opportunities; and</li>
<li>Strengthens near-term cash flow to support shareholder distributions and ongoing investments.</li>
</ul>

Reported Earlier, Woodside Reshapes Portfolio With Chevron Asset Swap, Gaining LNG And CCS Project Interests

Reported Earlier, Woodside Energy Signs Revised EPC Contract With Bechtel For Louisiana LNG Project

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Shares of oil and gas companies are lower ahead of OPEC's supply decision on Thursday. The commodity may be falling due to ongoing conflict in the Middle East.

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Shares of energy and oil stocks are trading higher amid a rise in the price of oil, which gained on Russia-Ukraine tensions and a Norway oilfield shutdown.

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Shares of oil and gas companies are trading lower following a build in US crude inventories.

Reported Earlier, Woodside Energy To Delist From London Stock Exchange, Last Trading Day Set For November 19

<ul>
<li>Record quarterly production of 53.1 MMboe (577 Mboe/day), up 20% from Q2 2024 due to ramp-up of Sangomar, increased uptime across operated assets including 99.9% LNG reliability at Pluto and increased seasonal domestic gas demand. Full-year production guidance has been narrowed to 189&ndash;195 MMboe.</li>
<li>Quarterly revenue of $3,679 million, up 21% from Q2 2024 primarily due to Sangomar cargo sales and higher average LNG prices.</li>
<li>Achieved nameplate capacity at Sangomar with gross production rates of 100,000 barrels per day.</li>
<li>Capitalised on increased gas-hub prices by selling 39% of produced LNG cargoes in the quarter on prices linked to gas hub indices.1&nbsp;Full year gas hub guidance has been increased to 33&ndash;37% of produced LNG</li>
</ul>

Woodside Energy Reported Q3 Revenue Of $3.679B Up 13% YoY, +21% Sequentially; Delivered Quarterly Production Of 53.1 MMboe (577 Mboe/day), Up 18% Sequentially

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Shares of energy stocks are trading lower as oil prices fall after Israel reportedly indicated it could target military sites in Iran but not oil or nuclear targets.

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Shares of energy companies are trading lower, pulling back after recently rising amid Middle East tensions. China stimulus uncertainty may also be impacting the demand outlook.

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Shares of energy companies are trading higher amid heightening Middle East tensions. A report suggests Iran is preparing to directly attack Israel, which could create shocks to the global economy.

Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) reportedly ruled out taking an equity stake in Woodside Energy Group Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WDS#NYSE">WDS</a>) <a href="https://www.benzinga.com//node/39879353">upcoming acquisition of Driftwood LNG in Louisiana.</a>
Colin Parfitt, head of midstream operations, told Reuters that Chevron can effectively monetize its U.S. gas without converting it to LNG.
The decision reflects the company&#8217;s earlier choice to bypass investment in U.S. LNG plant construction and sell its gas directly to the market instead.
In July 2023, Chevron executives said in an interview that the company is confident in its &#8216;buy-rather-than-build&#8217; strategy, which an S&amp;P Global <a target="_blank" href="https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/natural-gas/072023-interview-chevron-prefers-buying-us-lng-to-building-export-projects" rel="noreferrer noopener">report </a>highlighted.
During the interview, the company&#8217;s executives stated that Chevron&#8217;s U.S. LNG offtake contracts support its goal of increasing international sales of Permian Basin production, while the company will primarily leave U.S. midstream infrastructure development to third parties to focus on upstream and downstream investments.
In 2022, Chevron&nbsp;U.S.A. entered into long-term <a href="https://lngir.cheniere.com/news-events/press-releases/detail/253/cheniere-and-chevron-sign-long-term-lng-sale-and-purchase">LNG </a>sale and purchase agreements with Cheniere Energy. Notably, given the current interest rate environment, it&#8217;s interesting that Chevron chose not to invest in the construction of a U.S. LNG plant.
Recently, the Federal Reserve decided to reduce interest rates by 50 basis points leading to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40937291/bank-stocks-hit-inflection-point-after-feds-50-basis-point-cut-analyst-reveal-top-p" target="_blank" rel="noreferrer noopener">surge in optimism across major sectors</a>.
Further into the future, the Dot Plot signals the fed funds rate will drop to between 3.25% and 3.5% by the end of 2025, implying an additional 100 basis points of cuts. By the end of 2026 and the newly introduced projections for 2027, <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40926026/federal-reserve-delivers-bold-0-5-rate-cut-signals-further-easing-ahead" target="_blank" rel="noreferrer noopener">interest rates are expected to fall to 2.9%</a>.
It remains uncertain whether the company will alter its stance after future rate reductions as it wants the best use of its capital.
This week, Chevron Shipping Company, in partnership with Wärtsilä, disclosed that it will convert engines on six&nbsp;liquefied natural gas&nbsp;(LNG) carriers from dual-fuel to spark gas operation to cut methane&nbsp;emissions <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40941443/chevron-takes-steps-to-reduce-methane-emissions-from-lng-carriers" rel="noreferrer noopener">and support its carbon reduction goals</a>.
Investors can gain exposure to the Chevron via&nbsp;E.A. Series Trust Strive U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRLL#NYSE">DRLL</a>) and&nbsp;SPDR Select Sector Fund – Energy Select Sector&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>).
Price Action: CVX shares are up 0.13% at $145.18 at the last check Friday.
Photo by Jonathan Weiss on Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/09/40920735/chevron-slams-bidens-lng-export-pause-touts-natural-gas-for-ai-growth-report" target="_blank" rel="noreferrer noopener">Chevron Slams Biden&#8217;s LNG Export Pause, Touts Natural Gas For A.I. Growth: Report</a></li>
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Disclaimer: This content was partially produced with the help of A.I. tools and was reviewed and published by Benzinga editors.

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