Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

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

End-of-day quote. End-of-day quote  - 07/27
27.13 AUD   +0.04%
07/22 WOODSIDE PETROL : Low oil prices hit Woodside revenue
07/22 WOODSIDE PETROL : Australian Woodside's Q2 oil, gas output rises 10%..
07/21DJWoodside Petroleum's 2Q Production, Revenue Falls -- Update
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Senior Woodside Executive Leaves For Nexus Energy

share with twitter share with LinkedIn share with facebook
share via e-mail
0
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

Of

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; Ross.Kelly@dowjones.com

Stocks mentioned in the article : Woodside Petroleum Limited, Nexus Energy Limited
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on WOODSIDE PETROLEUM LIMITED
07/22 WOODSIDE PETROLEUM : Low oil prices hit Woodside revenue
07/22 WOODSIDE PETROLEUM : Australian Woodside's Q2 oil, gas output rises 10% on year ..
07/21DJWoodside Petroleum's 2Q Production, Revenue Falls -- Update
07/21 WOODSIDE PETROLEUM : 21.07.2016 Second Quarter 2016 Report
07/20DJWoodside Petroleum's 2Q Production, Revenue Falls
07/17 WOODSIDE PETROLEUM : buys ConocoPhillips oil stake in Senegal
07/16 WOODSIDE PETROLEUM : buys ConocoPhillips oil stake in Senegal
07/14 CONOCOPHILLIPS : To Sell Senegal Assets To Woodside Petroleum
07/14 WOODSIDE PETROLEUM : 14.07.2016 Woodside Agrees to Acquire ConocoPhillips Intere..
07/14 WOODSIDE PETROLEUM : 14.07.2016 Woodside Agrees to Acquire ConocoPhillips' Inter..
More news
Sector news : Oil & Gas Exploration and Production - NEC
07/26DJANADARKO PETROLEUM : Swings to a Loss
07/26DJANADARKO PETROLEUM : Swings to a Loss
07/25DJHighlands Natural Resources to Pay $500,000 for Rights to Drill Six Wells
07/22DJCorrection to InterOil Article on Monday
07/22DJCorrection to InerOil Article on Thursday
More sector news : Oil & Gas Exploration and Production - NEC
News from SeekingAlpha
07/15 Schlumberger wins $300M EPC contract with Woodside Petroleum
07/13 ConocoPhillips to sell Senegal holdings to Woodside Petroleum for $430M
04/08 SANTOS : Dead In The Water
04/01 InterOil confirms requisition by Mulacek-led investor group
03/24 $40 Billion LNG Project In Australia Cancelled Amid Low Prices
Advertisement
Financials ($)
Sales 2016 3 870 M
EBIT 2016 1 231 M
Net income 2016 800 M
Debt 2016 4 354 M
Yield 2016 3,73%
P/E ratio 2016 21,25
P/E ratio 2017 17,23
EV / Sales 2016 5,53x
EV / Sales 2017 5,01x
Capitalization 17 058 M
More Financials
Chart WOODSIDE PETROLEUM LIMITED
Duration : Period :
Woodside Petroleum Limited Technical Analysis Chart | WPL | AU000000WPL2 | 4-Traders
Full-screen chart
Technical analysis trends WOODSIDE PETROLEU...
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 22,2 $
Spread / Average Target 9,0%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Peter John Coleman Chief Executive Officer, Executive Director & MD
Michael Alfred Chaney Chairman
Michael Utsler Chief Operating Officer
Lawrence John Tremaine Chief Financial Officer & Executive Vice President
Shaun Gregory Senior VP-Strategy, Science & Technology
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
WOODSIDE PETROLEUM LIM..-4.77%17 058
OCCIDENTAL PETROLEUM C..10.47%57 044
CNOOC LTD18.34%55 792
CONOCOPHILLIPS-12.64%50 514
EOG RESOURCES INC13.65%44 270
CANADIAN NATURAL RESOU..34.81%33 114
More Results