Posts Tagged ‘WPL’

ASX Company News: Monadelphous Secures Woodside Maintenance Contract

Thursday, November 1st, 2012

Leading engineering group Monadelphous Group Limited (MND) announced it has been awarded a significant maintenance contract with Woodside Energy Limited at the Karratha Gas Plant in the Pilbara region of Western Australia. The contract, valued at approximately $150 million, involves the provision of maintenance and shutdown services. It is scheduled to commence on 1 January 2013 for an initial term of three years with the option of two one-year extensions.

Woodside operates the Karratha Gas Plant, one of the most advanced integrated gas production systems in the world, on behalf of the North West Shelf Project. The plant produces liquefied natural gas (LNG), domestic gas, condensate and liquefied petroleum gas (LPG). It includes five LNG processing trains, two domestic gas trains, six condensate stabilisation units, three LPG fractionation units, and storage and loading facilities for LNG, LPG and condensate. With the commencement of work at the Karratha Gas Plant, Monadelphous will be providing maintenance services on all three onshore LNG plants operating in Australia.

“The award of this contract represents a significant milestone in our development as a leading maintenance services provider in the rapidly growing LNG market,” Monadelphous Managing Director Rob Velletri said. “We’re particularly pleased to build on our long term relationship with Woodside and to be selected as maintenance provider for the world class Karratha Gas Plant.”

Monadelphous Group Limited is a leading Australian engineering group providing services to the resources, energy and infrastructure industry sectors. The company has a solid track record in the safe and effective delivery of complex and large-scale engineering construction projects and maintenance and industrial services for industry throughout Australia.

www.monadelphous.com.au

 

Post to Twitter

Dividends: Woodside Petroleum Ex Dividend On 27/8/2012

Sunday, August 26th, 2012

Woodside Petroleum (WPL) will go ex dividend on 27/8/2012.  The current dividend payment is 62 cents and it is 100% franked.  The record date is 31/8/2012 and the dividend will be paid on 2/10/2012.   Based on the full year payment the dividend yield is 3.2%.

*Current Yield: 1.8%    Franking: 100%    DRP Discount: 1.5%

*Yield has been calculated on the closing price on the 24/8/2012.  Current yield is based on the current dividend payment only.

Post to Twitter

ASX Company News: Woodside Enters $2billion Joint Venture

Wednesday, May 2nd, 2012

Woodside Petroleum (WPL) advises that it has accepted an offer from Japan Australia LNG (MIMI Browse) Pty Ltd (MIMI) to purchase a minority portion of Woodside’s equity in the proposed Browse LNG Development for US$2 billion, subject to joint venture pre-emption rights. The effective date is 1 January 2012. The sale involves MIMI taking 16% interest in the East Browse joint venture and 8% interest in the West Browse joint venture. This would give MIMI an estimated 14.7% interest in the Browse development on an assumed unitised basis. Woodside’s assumed unitised interest in Browse would fall from 46% to 31.3%. Woodside remains operator of the development. Woodside has also accepted an offer from MIMI for a long-term sales and purchase agreement for around 1.5 million tonnes of LNG a year from the Browse development subject to completion of the equity offer. The price agreed by the parties is confidential, but is in line with traditional Asian pricing for conventional LNG projects.

The transaction includes a joint marketing agreement between Woodside and MIMI under which the parties will jointly market co-mingled LNG volumes to the Asian market, primarily Japanese customers. Should the offer be completed, MIMI has also offered assistance in obtaining competitive financing for the development with Japanese banks indicating their support. Woodside has additionally entered into a non-binding Memorandum of Understanding with MIMI’s ultimate parent companies Mitsui & Co and Mitsubishi Corporation which provides for them to jointly or independently progress discussions with Woodside with respect to potential collaboration and alliance on other opportunities globally.

Woodside CEO Peter Coleman said the equity sale and LNG agreements were a strong demonstration of the value of the Browse LNG Development. “Browse is a world-class resource and the level of interest shown during this process reflects the strong ongoing demand for LNG from premium developments such as this,” Mr Coleman said. “We look forward to engaging in additional opportunities with Mitsui and Mitsubishi under the terms of the Memorandum of Understanding. “This agreement reflects Woodside’s focus on building strategic relationships to capture value from opportunities which build on the company’s capabilities.” Before the equity sale can be completed, the Browse Joint Venture partners BHP Billiton Petroleum (North West Shelf), BP Developments Australia, Chevron Australia and Shell Development Australia have a period to consider pre-emption over the sale.

www.woodside.com.au

Post to Twitter

ASX Company News: Woodside Ready To Produce Gas From Pluto

Friday, March 23rd, 2012

Woodside’s Pluto LNG Project in Western Australia has reached ready for start up (RFSU) status and first gas has entered the processing train late this afternoon.

Woodside CEO Peter Coleman said the achievement of RFSU was an important milestone for the project. “This milestone is a credit to all those involved in the construction of Pluto, which proudly takes its place as Australia’s third LNG project. Woodside operates two of these projects. “While the achievement of RFSU is a significant moment, our operations team remains focused on the path to steady-state production,” Mr Coleman said.   “Maintaining our focus on safety and integrity is a priority through this process.”

The first production of LNG will take place in the coming weeks, followed by deliveries to foundation customers and project participants Kansai Electric and Tokyo Gas.  The Pluto LNG Project is expected to contribute 17 to 21 million barrels of oil equivalent to Woodside’s 2012 production, in line with previous guidance.

In steady-state, the long-term average Pluto production is expected to contribute approximately 37 million barrels of oil equivalent to Woodside’s annual volumes.  The Greater Pluto fields are estimated to contain 5.5 trillion cubic feet of Proved plus Possible dry gas reserves and an additional 680 billion cubic feet of contingent resources.

The initial phase of the Pluto LNG Project comprises an offshore platform in 85m of water, connected to five subsea wells on the Pluto gas field. Gas will be piped through a 180 km trunkline to the onshore facility, located between the North West Shelf Project and Dampier Port on the Burrup Peninsula. Onshore infrastructure comprises a single LNG processing train with a forecast production capacity of 4.3 million tonnes a year.

www.woodside.com.au

Post to Twitter

ASX Company News: Mermaid Marine Australia Awarded 2 Contracts By Woodside

Sunday, June 12th, 2011

The Directors of Mermaid Marine Australia Ltd (MMA) are pleased to announce that the company has been awarded two contracts by Woodside in respect of the Mermaid Sound and the Mermaid Strait, for the provision of offshore marine support to Woodside’s FPSO operations in the North West Shelf.

The contracts are both for a term of three years firm, with two options of one year each.  The Mermaid Sound will commence its new contract on the 15th of June 2011.  The Mermaid Strait is currently under construction and is expected to be delivered in April 2012.  The Mermaid Resolution will act as the lead in vessel in respect of the Mermaid Strait contract.  The combined contract value is approximately A$60 million for the firm period, with further upside should the options be exercised.

The Mermaid Sound, a 50m diesel electric Offshore Support Vessel (OSV), has been successfully supporting FPSO’s off Exmouth Gulf for the past four years.  The Mermaid Strait is a 53m DP1 OSV and a second generation version of the Mermaid Sound. MMA’s marine project group have specifically designed the Mermaid Strait to include modifications that improve the safety of the vessel, especially when working in close quarters with large tankers, and offer more flexibility in relation to the range of functions the vessel can perform.

The Mermaid Strait has a fuel efficient and cost effective diesel electric drive system, increased capacities to meet growing logistical needs and improved machinery specification to enhance reliability. MMA Managing Director, Mr. Jeff Weber said: “The Mermaid Strait is a testament to MMA’s ability to critically assess the operation of its current fleet and transfer those learnings into practical design modifications in respect of our second generation vessels.”

www.mma.com.au

http://www.traderdealer.com.au/fundamentals/mma

Post to Twitter

Dividends: Woodside Petroleum Ex Dividend On 23/8/2010

Friday, August 20th, 2010

Woodside Petroleum (WPL) will go ex dividend on 23/8/2010. The current dividend payment is 54.7 cents and it is 100% franked. The record date is 27/8/2010 and the dividend will be paid on 23/9/2010. Based on the full year payment the dividend yield is 2.5%.

*Current Yield: 1.3% Franking: 100% DRP Discount: 1.5%

www.woodside.com.au

*Yield has been calculated on the closing price on the 19/8/2010. Current yield is based on the current dividend payment only.

Post to Twitter

Stock Market Analysis: Leading Indicators for Mining Stocks Part 3

Friday, August 6th, 2010

Leading Indicators for Mining Stocks – Part 3

This is the final instalment of a three-part series on the leading indicators for mining stocks, brought to you by our research department.

The materials sector has continued to underpin the performance of the broader Australian market. It led the recovery back in early 2009, but has weighed on the markets as a result of the uncertainties from the proposed Resources Super Profits tax.

Commodity prices can be used as a leading indicator for share price movements. We have reviewed key mining stocks that are highly liquid and respond well to movements in commodities. Please note that the commodity prices are recorded in Aussie dollar terms.

Previously we have reviewed leading indicators for BHP and last week we reviewed Newcrest. We complete this three-part special by examining our premium energy stock, Woodside Petroleum.

Woodside Petroleum Limited (WPL)

Woodside Petroleum (WPL) is Australia’s largest publicly traded oil and gas exploration and production company and one of the world’s leading producers of liquefied natural gas.

Woodside has operations in LNG, natural gas, condensate, crude oil and LPG. The primary focus is on LNG interests in the North West Shelf Joint Venture (NWSJV) off the Western Australian coast, where production is forecast to grow strongly. The company is well-managed, has a strong balance sheet, oil and gas exposure and outstanding long term growth.

Oil price last traded at $US82.42 a barrel, but in Aussie dollar prices, has been range trading for the past eighteen months (as seen on the chart below).

Oil has been a leading indicator for WPL share price movements

This chart illustrates the correlation between Oil and WPL prices. We can see that back in mid-2008 the oil price gave confirmation of a pullback in the WPL share price, and reaffirmed the downtrend in late August. While in early 2009, the oil price gave a confirmation of a turnaround in WPL’s share price.

The correlation has held through to the third quarter of 2009. As illustrated the crude oil price has range traded for the past year, while the WPL share price has drifted lower. Oil is now trading towards the upper end of its trading range, so look for the oil price to break out of this trading range for a leading indication of the future direction of the WPL share price.

The Trade

Commodity prices can be used as a leading indicator for share price movements, however you need to convert the pricing to Aussie dollar equivalents for best results.

Note that it is important to check the US ADRs for overnight share price movements as well.

To make sure you don’t miss out on future market analysis, sign up to receive our weekly newsletter.

By Michael Hevern
Head of Research

You can obtain more fundamental information on Woodside Petroleum on our website.

The information provided within this blog is general advice only and you should consult the services of a financial professional in order to ascertain whether the information is applicable to your investment strategies and risk profile.

Post to Twitter

Mermaid Marine Secures Woodside Contract

Tuesday, February 2nd, 2010

The Directors of Mermaid Marine Australia Ltd (MMA) are pleased to announce that the Company has been awarded a two year contract, plus a further one year option, by Woodside Energy Ltd (Woodside). The contract covers the provision of standby services for their offshore platforms in addition to a range of general services as required.

The Mermaid Achiever will fulfil the contract for the initial six months and will then be substituted by the Mermaid Searcher. The Mermaid Searcher is a 54 metre multi-purpose vessel commissioned by MMA and delivered in 2008.

The Managing Director, Mr Jeff Weber said; “MMA is delighted to have won this significant production support contract with Woodside. Woodside is one of our major clients and this award further strengthens our long term contracts in the North West Shelf and reinforces MMA’s position as a service provider of choice.  In recent months we have secured term contracts on five of our vessels ranging from 12 months through to five years in duration. This Woodside contract is a welcome addition to our longer term portfolio and supports our recent fleet expansion.”

www.mermaidmarine.com.au

Post to Twitter

Woodside loses $45b contract

Tuesday, January 5th, 2010

Woodside Petroleum’s $45 billion contract to sell LNG to PetroChina has expired, but some are seeing an opportunity for more lucrative deals to be forged.

Plans to sell liquefied natural gas from the Browse project were canned, after the targeted supply date was recognised as being out of reach. The deal could have been one of Australia’s biggest export contracts.

Despite this bad news, some analysts are suggesting there’s opportunity now for Woodside to pursue deals with other Asian buyers, specifically Japan, who are likely to offer more appealing terms than China.

Traders capitalised on the news as well, with the share price gaining 33 cents, to $47.53 at the close of trading yesterday.

Woodside Petroleum
ASX Code: WPL

Chart source: Market Analyser. Register now for a free charting software trial!

For more on this news:
The Australian: “Browse delays blow $45bn gas deal”
Bloomberg: “Woodside’s PetroChina Browse Gas Sale Accord Expires”

Post to Twitter

Woodside to raise $2.5 billion for LNG growth

Monday, December 14th, 2009

Woodside Petroleum will attempt to raise $2.5 billion to fund an expansion of its liquefied natural gas projects and strengthen its balance sheet.

Under the fully underwritten entitlement offer, shareholders can buy one new share for every 12 shares held, at a cost of $42.10. The last share price at market close on Friday was $47.18.

Royal Dutch Shell, Woodside’s largest shareholder, will take up its full entitlement, valued at $862 million.

Woodside is currently building the Pluto LNG project off Western Australia, though construction costs are in danger of blowing out by 10%, which has Standard & Poor’s threatening to downgrade the company’s credit rating.

WPL will stay in a trading halt until it can release the outcome of the institutional entitlement offer, prior to the beginning of trading on 17 December.

Woodside Petroleum
ASX Code: WPL

Chart source: Market Analyser. Register now for a free charting software trial!

For more on this news:

Post to Twitter