Here a brief report from Hartleys about WPL.
Note there comment on WPL bring SNE into production earlier, I sure that will resonates with the Senegal government.
WPL (Woodside Petroleum, +0.2% to $26.84, m.cap A$22569m, Oil, Gas & Consu): Simon Andrew
- Change in messaging to now include a “Growth” strategy. Demonstrated by the entry into Senegal, Greater Enfield Development, and aggressive drilling program in Myanmar in 2017 (7 wells).
- Bid/offer spreads on asset values now at a much more reasonable level – expect more M&A.
- Cost of services nearing a bottom – think 2016 will see further deflation in costs, 2017 will be neutral, and then a return to inflation in 2018. Bulk of cost cutting now done.
- Once the Senegal transaction has settled, WPL will be agitating for a faster route to production.
- Swinging the gas/oil mix back towards oil with the entry into Senegal, and development of Greater Enfield.
- 1.1bn bbls of 1P reserves meaning approximately 13 years of production.
- Exploring ways to expand LNG business downstream in key markets.
- Expect gearing to remain below 25% after base line capital spend of US$2bn in 2016, and the cost of Senegal and Scarborough LNG.
- Wheatstone LNG – first gas expected from Train 1 in mid-2017.
- Closing Gap Ridge accommodation village in Karratha because the W.A. government will not extend the lease. Will not build a new village because there are plenty of beds at other underutilised villages in the area (Searipple for example).
- Whilst we do not formerly cover WPL, they have regularly presented to us over the past 3 years. A far more upbeat message around growth, costs, and the expectation that oil markets should be back in balance by the end of 2017.
- No formal coverage
- Forums
- ASX - By Stock
- 83% of yesterdays trading was the shorter selling
Here a brief report from Hartleys about WPL. Note there comment...
-
-
- There are more pages in this discussion • 21 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add FAR (ASX) to my watchlist
(20min delay)
|
|||||
Last
49.0¢ |
Change
-0.010(2.00%) |
Mkt cap ! $45.28M |
Open | High | Low | Value | Volume |
48.5¢ | 52.0¢ | 48.5¢ | $101.9K | 200.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 48741 | 48.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
49.5¢ | 1786 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 41741 | 0.485 |
1 | 5000 | 0.480 |
1 | 10000 | 0.475 |
2 | 65000 | 0.470 |
1 | 50000 | 0.465 |
Price($) | Vol. | No. |
---|---|---|
0.495 | 1786 | 1 |
0.500 | 15000 | 1 |
0.510 | 25000 | 1 |
0.520 | 226386 | 4 |
0.530 | 1005 | 1 |
Last trade - 15.59pm 04/10/2024 (20 minute delay) ? |
Featured News
FAR (ASX) Chart |