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

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

End-of-day quote. End-of-day quote  - 01/16
31.88 AUD   -0.16%
03:15pWOODSIDE PETROL : annual earnings release
2016DJOil Soars on Plans for Output Cuts
2016DJAsian Shares Broadly Up, Led by Gains in Finance Stocks
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Woodside Targets Cyprus In Gas Joint Venture

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/14/2012 | 10:30am CET

--Woodside forms Cyprus venture with Delek, Enel, Edison

--Venture to bid for exploration blocks

--CEO says LNG a likely development path

(Adds composition of Cyprus joint venture in third paragraph; CEO comments on Cyprus from fifth paragraph; update on Pluto LNG expansion from eighth paragraph.)

By David Winning and Ross Kelly

Of

Woodside Petroleum Ltd. (>> Woodside Petroleum Limited) has joined a consortium to bid for natural gas exploration blocks offshore the Mediterranean island nation of Cyprus, Chief Executive Peter Coleman said Monday, in the latest sign of international interest in an emerging energy province following a series of big discoveries.

Mr. Coleman told a conference that the bid plans reflected a desire to expand Woodside's global footprint to balance better its scale in Australia, where it operates two multi-billion dollar gas-export projects--the North West Shelf and Pluto--with ambitions to lead the development of two more.

Woodside will join Israel's Delek Group Ltd., Italy's Enel Trade SPA and France's Edison International SPA in the bid consortium, of which the Australian company holds a 30% stake.

Interest in the eastern Mediterranean's potential has grown following the discovery of the Tamar and Leviathan fields, estimated to contain up to 9 trillion cubic feet of natural gas and 16 trillion cubic feet, respectively, offshore Israel in recent years by Woodside's competitors.

Coleman said it was too early to tell if Cyprus will house Woodside's next big energy development outside Australia.

"It's simply bidding on some exploration acreage," he told reporters.

"It's an emerging basin that's very close to market, and it's very close to those premium European markets."

Coleman said that the most likely development path for the gas would be to chill it for export by constructing a new liquefied natural gas plant. Cyprus has already identified a site where it would like an LNG plant to be situated. Woodside's capabilities may "play well" to the development of large discoveries offshore Israel too but no commercial discussions have taken place in that regard, Coleman said.

Separately, the executive said Woodside still hasn't discovered enough gas to underpin a desired expansion of its A$14.9 billion Pluto project in Western Australia state. "The drilling program hasn't delivered on what we hoped a couple of years ago. We've got a few more wells to drill, and in about the third quarter we'll decide whether we need to take a break or not," Coleman said.

Woodside is also talking to potential third party suppliers to the project. Analysts have speculated that Hess Corp. (HES) or the Scarborough joint venture between BHP Billiton Ltd. (>> BHP Billiton Limited) and ExxonMobil Corp. (XOM) are considering processing their gas through LNG projects on the coast operated by Woodside and Chevron Corp. (CVX).

-By David Winning and Ross Kelly, Dow Jones Newswires; +61-2-82724688; david.winning@dowjones.com

(MORE TO FOLLOW) Dow Jones Newswires

05-14-12 0429ET

Stocks mentioned in the article : Woodside Petroleum Limited, BHP Billiton Limited
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on WOODSIDE PETROLEUM LIMITED
03:15pWOODSIDE PETROLEUM LIMITED : annual earnings release
2016DJOil Soars on Plans for Output Cuts
2016DJAsian Shares Broadly Up, Led by Gains in Finance Stocks
2016 WOODSIDE PETROLEUM : How Woodside plans to build a domestic market for its LNG
2016DJOPEC Deal Fuels Asian Shares
2016DJOil Consolidates Gains After OPEC Output Deal
2016DJOPEC Production Deal Keeps Global Oil Prices Buoyant -- Update
2016DJOPEC Production Deal Keeps Global Oil Prices Buoyant
2016DJAustralia's Government to Review Oil and Gas Tax Regime
2016DJNikkei Leads Asia Lower
More news
Sector news : Oil & Gas Exploration and Production - NEC
09:41pDJNOBLE ENERGY : to Buy Clayton Williams
06:54aDJNOBLE ENERGY : to Buy Oil and Gas Company Clayton Williams--Update
01/13DJCHESAPEAKE ENERGY : Foundation Battles Over Pledge -- WSJ
01/13DJAnadarko to Sell South Texas Assets to Sanchez Energy and Blackstone -- 2nd U..
01/13DJAnadarko to Sell South Texas Assets to Sanchez Energy and Blackstone -- Updat..
More sector news : Oil & Gas Exploration and Production - NEC
News from SeekingAlpha
2016 Atwood Oceanics adds rig contract
2016 ConocoPhillips sells Senegal oilfield stakes to Woodside for $440M
2016 Chevron flags $5B cost blowout to Wheatstone LNG project, hits Woodside
2016 INTERNATIONAL EQUITIES : The Case For Australia And The Case Against Latin Ameri..
2016 ROYAL DUTCH SHELL : An Unsustainable Dividend
Advertisement
Financials ($)
Sales 2016 3 954 M
EBIT 2016 1 369 M
Net income 2016 851 M
Debt 2016 4 661 M
Yield 2016 3,54%
P/E ratio 2016 23,39
P/E ratio 2017 19,14
EV / Sales 2016 6,28x
EV / Sales 2017 5,82x
Capitalization 20 172 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
TrendsBullishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 23,5 $
Spread / Average Target -2,0%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Peter John Coleman Chief Executive Officer, MD & Executive Director
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..2.47%20 126
PACIFIC EXPLORATION AN..--.--%134 594
CONOCOPHILLIPS0.90%62 682
EOG RESOURCES INC4.24%60 753
CNOOC LTD2.07%57 271
OCCIDENTAL PETROLEUM C..-3.02%52 790
More Results