FAR LIMITED (ASX:FAR) - News: FAR Woodside would consider increasing stake in Senegal oil field - CEO, 41520814, page-31 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

FAR

Click for more information

2.91%

50.0¢ far limited

First 31 Last

Share
Profile

Follow
Might

99 Posts.

4

20/11/19

07:44

Post #: 41520814
Share

Originally posted by flight11 ↑

Ten cents won’t get my shares buddy.[/
Ambitious plans revealed yesterday by Woodside Petroleum for the next seven years at an investor day presentation.

Australia’s biggest independent oil and gas group reckons it can triple its gas and oil reserve base in the next seven years by investing in projects in Australia, Senegal and Myanmar valued at more than $US36 billion.

The key projects for that growth will depend on decisions to go ahead with the Sangomar oil project off Senegal by the end of this year, the huge Scarborough gas project off Western Australia in early 2020 and the even larger Browse gas project in the first half of 2021.

Woodside said it would triple its reserve base to 3.7 billion barrels over the next seven years, if the green light is given to the Scarborough and Browse projects off Western Australia, Sangomar in Senegal and the A-6 project in Myanmar.

Those projects all together will help Woodside expand its production by 6% a year over the next decade, CEO Peter Coleman told yesterday’s briefing in Sydney.

The Scarborough project took moved forward this week, with Woodside and its partner BHP agreeing on a tolling price for processing gas from the Scarborough field through Woodside’s Pluto LNG plant.

To help fund the huge spending plans, Woodside says it will look to sell a 50% stake in the new five million tonnes a year processing unit it will be adding at the Pluto plant.

At the same time, Woodside plans to sell down its 75% stake in Scarborough.

Chief Financial Officer Sherry Duhe said the company would not rush into a sale, looking to make sure it gets the best value.

BHP will maintain its 25% stake, having given up an option to increase its stake to 35%.

Woodside also confirmed that costs on the Sangomar project in Senegal had increased by 40% to $US4.2 billion, as previously reported by its minority partner FAR Ltd, adding that the two companies are nearing a final investment decision for the project.

Woodside also trimmed its 2019 output guidance to 89 million to 91 million barrels of oil equivalent.

It had previously forecast output at the lower end of 88 million to 94 million barrels of oil equivalent.

Woodside shares closed up half a percent at $34.43.

Expand

Last edited by Might: 20/11/19

FAR Price at posting: 5.0¢ Sentiment: Buy Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

Trump is President Again: What Does This Mean for Crypto?

MMI

Metro Mining inks bauxite offtake contracts into 2026 with Chinese m

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

UBI

Universal Biosensors flat despite fresh deal with US medical product distributor

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

There are more pages in this discussion • 42 more messages in this thread...

First 31 Last

Add FAR (ASX) to my watchlist

(20min delay)
Last 50.0¢		Change -0.015(2.91%)		Mkt cap ! $47.59M

Open	High	Low	Value	Volume
51.0¢	51.0¢	50.0¢	$4.13K	8.128K

Buyers (Bids)

No.	Vol.	Price($)
2	18505	50.0¢

Sellers (Offers)

Price($)	Vol.	No.
51.0¢	270115	4

View Market Depth

No.	Vol.	Price($)
2	18506	0.500
2	32029	0.495
1	38794	0.475
1	42553	0.470
1	3000	0.465

Price($)	Vol.	No.
0.510	270115	4
0.515	67887	3
0.520	388616	9
0.540	451	1
0.550	2285	1

Last trade - 12.14pm 08/11/2024 (20 minute delay)

FAR (ASX) Chart

Trump is President Again: What Does This Mean for Crypto?

Metro Mining inks bauxite offtake contracts into 2026 with Chinese m

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Universal Biosensors flat despite fresh deal with US medical product distributor

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Top Stories

Trump is President Again: What Does This Mean for Crypto?

Metro Mining inks bauxite offtake contracts into 2026 with Chinese m

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Universal Biosensors flat despite fresh deal with US medical product distributor

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News