I think it’s a smart move, repositioning to capitalise on US Government funding . The last couple of acquisitions gear Woodside up to take full advantage of this, whilst appeasing the large percentage of managed funds leftward stance to carbon footprint.
I would say Browse is no longer a priority or consideration with Scarborough scheduled for 2026-7. Costs and political uncertainty in Australia to fossil fuels have pretty much put the nail in the coffin for the next 15 years.
Nambia’s (plc) results would have to be outstanding for Woodside to even consider to commission drilling given the political events unfolding in Senagal and costs to drilling over 3000 meters.
Now that the Australian government has commission 15 Billion to green hydrogen, Woodside will now focus their efforts to capitalise on this funding of the domestic market to reassure the Australian community of their commitment to reducing greenhouse effect.
Once the acquisitions with Driftwood and OCI are completed early next year and become operational, it would anticipate the Majors have a very close look. The recent capital raising makes me think that Woodside may be considering a share buyback to ensure any takeovers could be foiled. It all leads to an interesting future.
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