The current share price implies a long term oil price of less than $60 brent. If oil averages $80 brent long term then sp should be around $41.
given US inflation and deterioration in tier 1 inventory of US shale the break even in permian is close to $75-80. If oil drops it will be temporary because US shale will not reinvest at $60 brent and global supply will quickly rebalance and push prices higher.
so in summary, a very good risk reward at this share price and with brent averaging $84 brent so far in 2024.
let's not also forget woodside is very unique in that the majority of the production is from US and Aus. As the geopolitical situation deteriorates these safe barrels will price in a premium.
WDS up off the canvas, page-3
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Last
$26.87 |
Change
-0.270(0.99%) |
Mkt cap ! $51.01B | |||
| Open | High | Low | Value | Volume |
| $26.90 | $26.98 | $26.70 | $103.8M | 3.867M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 48 | $26.87 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $26.90 | 23500 | 1 |
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| Last trade - 16.10pm 30/07/2024 (20 minute delay) ? |
| WDS (ASX) Chart |