WDS woodside energy group ltd

Why price falling today?, page-107

  1. 3,690 Posts.
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    IMHO, shale in the US was profitable because the profit came from oil. It may not have been developed if was gas only. CSG could not emulate the shale success being dry. So it was already marginal and did not need many additional risks to become unprofitable- and then then it transpired that reserves had been over estimated.
    WPL, now ironically may rely on dry scarborough as an important part of their plans. But at least there is scale.

    But agreed, at this stage of the cycle, WPL are better placed than most of their peers- and with patience they could nab a bargain or two. Their customer base in Asia is hurting and may for a little while- but they will need gas for their progress. The SP may flirt with some low prices for a little bit but the longer term looks good.

    IMHO DYOR
 
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