This is our first report on Australian Energy major, Woodside Energy. The company delivered a disappointing set of results in the quarter failing to meet market expectations in terms of revenues as well as earnings. The key drivers for Woodside’s growth are its continued strong operational performance and the higher prices of its products. Increased production volumes and increased pricing resulted in an increase in sales volume. Operationally, the company has achieved some great results and achieved improved LNG reliability. Woodside has delivered subsea tieback and improvement projects across Shenzi, Wheatstone, Pluto, and Northwest Shelf. The environment performance has been good, with only one Tier 2 loss of containment. Woodland Energy to collaborate to secure a steady energy supply for Japan. The company has made progress in the Sangomar field development in Senegal. Woodside is making meaningful progress on the activities in support of its emissions reduction targets. It continues to build its portfolio of lower carbon and new energy services opportunities. Woodside sold down a 49% stake in Pluto Train 2, which reduces the future capital expenditure of the company for strategic investments as well as the execution of its minor and major projects is going quite well. We initiate coverage on the stock of Woodside with a ‘Hold’ rating.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
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