Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Woodside Petroleum Limited    WPL   AU000000WPL2

End-of-day quote. End-of-day quote  - 10/20
29.36 AUD   +0.38%
10/18DJWoodside Narrows Production Range as Wheatstone Starts Up
10/18 WOODSIDE PETROL : Trunkline Q2 2017
10/16WOODSIDE PETROL : quaterly earnings release
News SummaryMost relevantAll newsSector newsTweets

Senior Woodside Executive Leaves For Nexus Energy

share with twitter share with LinkedIn share with facebook
share via e-mail
04/03/2012 | 05:53am CEST

--Della Martina says it's time to pass the baton at Pluto

--Joins Nexus after 21 years at Woodside

--Follows Kevin Gallagher's departure last year

(Recasts first paragraph; add Woodside executive's comments in 5th, 9th and 10th paragraphs; details throughout)

By Ross Kelly


Woodside Petroleum Ltd. (>> Woodside Petroleum Limited) has lost its third senior staffer since it changed chief executives last year, with the head of its flagship Pluto gas-export project Lucio Della Martina leaving to head up Nexus Energy Ltd. (>> Nexus Energy Limited).

Della Martina was tipped as a potential internal candidate to succeed Woodside's former Chief Executive Don Voelte. The top job at Australia's biggest pure-play oil company ended up going to former Exxon Mobil Corp. executive Peter Coleman. Another internal favorite to succeed Voelte, Kevin Gallagher, recently left his post heading up Woodside's North West Shelf LNG project to lead engineering firm Clough Ltd. Woodside's head of international oil and gas Jeff Soine has also left since Coleman came on board.

Nexus Energy is developing a tradition of appointing big name CEOs after Queensland Gas Corp. head Richard Cottee's brief and acrimonious time at the helm of the small Australian company.

The A$14.9 billion Pluto project is expected to deliver its very first LNG cargo to Asian customers this month after construction began in 2007. A potential expansion of the project has been put on ice by Coleman pending more gas discoveries or completion of a potential third-party gas supply deal.

"As I've mentioned internally, I've spent 21 years at Woodside, having lead the project from its discovery. It was time to pass the baton for the next operational phase," Della Martina told Dow Jones Newswires in an interview.

Nexus, with a current market value of around A$305 million, in January agreed that Royal Dutch Shell PLC (RDSB.LN) would lead an integrated gas and liquids development at its Crux project offshore northern Australia in a deal that would give Nexus a 17% stake in the asset. Gas from Crux will be fed into Shell's pioneering Prelude floating LNG project nearby.

Nexus also owns the operational Longtom gas asset offshore Victoria state, for which it last month booked a large resource downgrade and related impairment charge.

It also owns the Echuca Shoals exploration permit offshore Western Australia state, located near Prelude and the Ichthys LNG project.

Della Martina said he was partly attracted to Nexus by its "strong board" and said it was unusual for such a small company to have a relationship with Shell and floating LNG.

"They're well-positioned now after a volatile period where the board has guided the company into a stable zone," he said, adding he would also like to "re-invigorate the exploration side of things and the company's growth".

Nexus Chairman Michael Fowler said Della Martina is a top executive who's appointment highlights a "disconnect between the value of our portfolio and our small market capitalization".

At 0335 GMT, Nexus shares were flat at 22.5 cents, while the benchmark S&P/ASX 200 index was up 0.3% at 4340.8 points.

-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692; [email protected]

Stocks mentioned in the article : Woodside Petroleum Limited, Nexus Energy Limited
share with twitter share with LinkedIn share with facebook
share via e-mail
10/20 WOODSIDE PETROLEUM : Australia`s Woodside trims 2017 output target on Wheatstone..
10/18DJWoodside Narrows Production Range as Wheatstone Starts Up
10/18 WOODSIDE PETROLEUM : Trunkline Q2 2017
10/16WOODSIDE PETROLEUM LIMITED : quaterly earnings release
10/12 BEACH ENERGY : Synergy announces new Chairman and board changes
10/09 WOODSIDE PETROLEUM : 09.10.2017 Wheatstone commences LNG production
09/11 ExxonMobil slashes LNG price to India in bad omen for producers
09/07 WOODSIDE PETROLEUM : 07.09.2017 Appendix 3Y (Non-Executive Directors)
09/06 WOODSIDE PETROLEUM : Finder Farms out WA-520-P in the Carnarvon Basin to Woodsid..
08/29 WOODSIDE PETROLEUM : 29.08.2017 Notification of Dividend Update
More news
News from SeekingAlpha
10/19 Woodside Petroleum Ltd. ADR reports 1H results
08/16 Woodside Petroleum's (WOPEF) CEO Peter Coleman Q2 2017 Results - Earnings Cal..
08/16 Woodside Petroleum reports 1H results
07/20 Woodside Petroleum Ltd. ADR reports Q2 results
05/31 Woodside Petroleum (WOPEF) Investor Presentation - Slideshow
Financials ($)
Sales 2017 3 848 M
EBIT 2017 1 628 M
Net income 2017 1 007 M
Debt 2017 4 821 M
Yield 2017 4,23%
P/E ratio 2017 18,78
P/E ratio 2018 18,55
EV / Sales 2017 6,32x
EV / Sales 2018 5,68x
Capitalization 19 488 M
Duration : Period :
Woodside Petroleum Limited Technical Analysis Chart | WPL | AU000000WPL2 | 4-Traders
Technical analysis trends WOODSIDE PETROLEUM LIMITED
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 16
Average target price 23,4 $
Spread / Average Target 2,0%
EPS Revisions
Peter John Coleman Chief Executive Officer, MD & Executive Director
Richard J. B. Goyder Chairman
Michael Utsler Chief Operating Officer
Shaun Gregory Chief Technology Officer & Senior Vice President
Melinda Ann Cilento Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
CNOOC LTD3.21%56 959