08-Dec-2020: CEO Succession announcement
Peter Coleman wants to move on during the second half of 2021 after 10 years at the top of Australia's largest energy company. As usual with this company, this has been flagged well in advance to facilitate an orderly transition. I do not have any issues with this. I hold WPL shares.
11-Nov-2020: Investor Briefing Day 2020 Presentation
Good to see that the ASX have now modified their "FOR PERSONAL USE ONLY" watermark - that they add to the left hand edge of every page of every announcement; Since they relaunched their website the watermark has been "always on top" meaning that it obscured whatever was there previously, including text, however they have now modified it so that it does NOT obscure text or pictures/images, as can be seen in this presentation by Woodside, particularly on pages 2, 16 and 17 where the old watermark would have rendered those slides unreadable - the new one doesn't do that, so that's a big improvement.
[I hold WPL shares. The energy sector is enjoying a positive rerating this week, and while Woodside did not rise as much as some of the other energy stocks yesterday, they are at or near the front of the pack today.]
WOODSIDE EXPANDS LONG-TERM LNG SUPPLY AGREEMENT
Woodside Energy Trading Singapore Pte Ltd (Woodside) and Uniper Global Commodities SE (Uniper) have agreed to amend the binding long-term sale and purchase agreement (SPA) announced in December 2019 to increase the supply of LNG from Woodside’s global portfolio to Uniper.
The quantity of Woodside LNG to be supplied under the amended SPA has doubled. Initial supply commencing in 2021 is now for a volume of up to 1 million tonnes per annum (Mtpa), increasing to approximately 2 Mtpa from 2026.
The majority of LNG supply from 2025 is conditional upon a final investment decision on the development of the Scarborough gas resource offshore Western Australia. The 13-year term of the SPA is unchanged.
16-7-2020: 4:18pm: Q2 2020 Briefing Transcript and Additional Information
Also: 15-7-2020: 8:30am: Second Quarter 2020 Report
[I hold WPL shares] Gas company, largest market cap Energy play on the ASX, but entirely leveraged to Natural Gas rather than oil. Not ex-growth yet. They can move at glacial pace, but they get things done - in their own time. Very measured. Great management. Good focus on shareholder returns. Gas Production revenue underpinned by multi-year long-term contracts (recurring revenue). Pays reasonable dividends. Not as leveraged as a Santos or an Oilsearch, so less bang-for-your-buck on an oil price recovery (which drags gas producing companies up with it), but less downside risk, and still plenty of upside from here when energy companies are back in vogue once more. Good company to buy when their SP is low, which it still is.
That link will take you to a full transcript of the Teleconference that Woodside held yesterday after announcing their half year results. I posted a straw here yesterday with links to their results announcements.
[I hold WPL shares]
FOURTH QUARTER REPORT FOR PERIOD ENDED 31 DECEMBER 2020
• Delivered production of 24.9 MMboe, down 2% from Q3 2020, contributing to record annual production of 100.3 MMboe.
• Delivered sales revenue of $920 million, up 32% from Q3 2020.
• Delivered sales volume of 29.1 MMboe, up 9% from Q3 2020.
• Installed the Pluto water handling module on the Pluto offshore platform.
[I hold WPL shares.]