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

WOODSIDE PETROLEUM LIMITED (WPL)
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Woodside Petroleum Takes Up To US$140 Million Impairment

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07/18/2013 | 02:24am CEST
   By Ross Kelly 
 

SYDNEY--Woodside Petroleum Ltd. (>> Woodside Petroleum Limited) said Thursday that early design work on projects that were never built will shave up to US$140 million from its first-half profit.

Australia's second-biggest oil company by output behind BHP Billiton Ltd. (>> BHP Billiton Limited) said it expects to book an impairment charge of between US$120 million and US$140 million for the six months to June 30. Last year, Woodside booked a first-half profit of US$812 million.

The blow is partly related to the cost of early design work on an expansion of its Pluto gas-export plant in Western Australia state, which was later put on ice after Woodside failed to enough gas in an expensive drilling campaign.

Costs associated with planning the development of the Laverda oil discovery, also offshore Western Australia, contributed to the writedown, Woodside said.

Separately, the company said oil production fell 0.6% to 20 million barrels of oil equivalent in the three months to June 30. Quarterly revenue fell 6% to US$1.35 billion due to a longer-than-expected shutdown of its Vincent oil production facility.

Write to Ross Kelly at [email protected]

Stocks mentioned in the article : Woodside Petroleum Limited, BHP Billiton Limited
Stocks mentioned in the article
ChangeLast1st jan.
BHP BILLITON LIMITED 0.54% 33.56 End-of-day quote.13.49%
WOODSIDE PETROLEUM LIMITED 1.63% 34.27 End-of-day quote.2.56%
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Financials ($)
Sales 2018 5 011 M
EBIT 2018 2 468 M
Net income 2018 1 412 M
Debt 2018 2 658 M
Yield 2018 5,38%
P/E ratio 2018 15,90
P/E ratio 2019 14,03
EV / Sales 2018 5,32x
EV / Sales 2019 4,89x
Capitalization 23 991 M
Chart WOODSIDE PETROLEUM LIMITED
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Woodside Petroleum Limited Technical Analysis Chart | WPL | AU000000WPL2 | 4-Traders
Technical analysis trends WOODSIDE PETROLEUM LIMITED
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus HOLD
Number of Analysts 14
Average target price 26,2 $
Spread / Average Target 2,7%
EPS Revisions
Managers
NameTitle
Peter John Coleman Chief Executive Officer, MD & Executive Director
Richard J. B. Goyder Chairman
Meg O’Neill Chief Operating Officer
Sherry Duhe Chief Financial Officer & Executive Vice President
Shaun Gregory CTO, Executive VP-Exploration & Technology
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