Group 1 - Woodside Energy held its 2025 Capital Markets Day in Sydney, marking two years since the last investor briefing [1][3] - Vanessa Martin, the new Vice President of Investor Relations, has been with Woodside for 12 years and recently oversaw the final investment decision for Louisiana LNG [1] - The company acknowledged the Gadigal people of the Eora Nation and their connection to the land during the event [2]

Core Insights - Woodside Energy anticipates a 50% increase in crude oil and natural gas sales by 2032, driven by rising energy demand, particularly in Asia [1] - The company projects annual sales growth of 6%, potentially reaching 300 million barrels of oil equivalent by 2032, with net operating cash flow expected to rise to $9 billion from $5.8 billion in 2024 [1] LNG Growth - Woodside expects LNG capacity to grow from 19 million tons annually in 2024 to 40 million tons by 2032, with global LNG demand forecasted to increase by 60% by 2035 [2] - The company's strategic positioning across the Atlantic and Pacific basins, along with its marketing and trading capabilities, will enhance its ability to meet customer needs [2] Production Expansion - Production from the Scarborough LNG facility is set to commence in 2026, adding 8 million tons to annual production capacity [3] - Between 2029 and 2031, Woodside plans to increase capacity by an additional 16.5 million tons from the Louisiana LNG plant, which has a total project cost of $17.5 billion [3] Crude Oil Production - Woodside aims to increase crude oil production by 100,000 barrels per day with the Trion field's startup in 2028, in which Woodside holds a 60% stake [4] - The Trion field, discovered in 2012, was developed in partnership with Pemex due to resource constraints faced by the latter [4]

Core Viewpoint - Woodside Energy anticipates a 50% increase in oil and gas sales by 2032 to satisfy growing energy demand, especially in Asian markets [1] Group 1 - The company's CEO, Meg O'Neill, highlighted the rising energy demand as a key driver for this expected growth [1]

Summary of Woodside Energy Group's 2025 Capital Markets Day Company Overview - **Company**: Woodside Energy Group (NYSE: WDS) - **Headquarters**: Australia - **Employees**: Over 4,500 globally - **Established**: More than 70 years ago - **2024 Performance**: Sold 204 million barrels of oil equivalent with an EBITDA margin of 70% [5][6] Strategic Direction - **Long-term Returns**: Focus on delivering long-term returns and maximizing operational performance [3][11] - **Growth Projects**: Significant projects include Louisiana LNG, Scarborough, and Beaumont New Ammonia, targeting a 50% increase in sales volumes to over 300 million barrels of oil equivalent by 2032 [7][20] - **Financial Goals**: Expected net operating cash flow of approximately $9 billion by 2032, representing over 6% compound annual growth rate [8][12] Key Business Activities - **LNG Operations**: Operating approximately 19 million tonnes per annum of LNG, with an additional 5 MTPA under construction at Pluto [6] - **International Oil Production**: Producing oil from the Gulf of Mexico and offshore Senegal, with a project in Mexico targeting 100,000 barrels per day [6] - **Lower Carbon Ammonia**: First production from Beaumont New Ammonia project targeted for late 2025 [6][29] Competitive Advantages - **Diversified Portfolio**: Low break-even price of $34 per barrel, operational excellence, and strong customer relationships [10][11] - **Reliability**: Achieved 100% reliability at Pluto LNG plant in Q3 2025 and over 98% in Senegal oil development [10][14] - **Financial Discipline**: Strong balance sheet and commitment to returning value to shareholders, with approximately $11 billion in dividends paid since 2022 [5][22] Market Dynamics - **Energy Demand**: Anticipated growth in LNG demand, particularly in Asia and Europe, driven by energy security and decarbonization goals [24][26] - **LNG Market Growth**: Global LNG demand grew by 65% from 2015 to 2024, with a forecasted 60% growth by 2035 [25] - **Regulatory Support**: Emerging regulations supporting lower carbon ammonia and other sustainable energy sources [30][31] Project Highlights - **Louisiana LNG**: Final investment decision made for three trains with a capacity of 16.5 million tonnes per annum, targeting first LNG in 2029 [17][19] - **Scarborough Energy Project**: Expected to produce up to 8 million tonnes of LNG per year, with first LNG cargo targeted for the second half of 2026 [51][55] - **Northwest Shelf Project**: Recent approval for ongoing operations beyond 2030, ensuring continued value delivery [49] Sustainability and Innovation - **Sustainability Focus**: Strong sustainability performance as a key driver for business, with objectives across health, safety, climate, and biodiversity [13][31] - **Technological Advancements**: Use of AI and real-time analytics to improve operational efficiency and reduce emissions [57][58] Financial Management - **Capital Management Framework**: Disciplined approach to capital allocation, maintaining an investment-grade credit rating and targeting a gearing ratio of 10%-20% [34][35] - **Dividend Policy**: Minimum payout of 50% of underlying profit, with an average annualized dividend yield of over 8% since 2022 [22][35] Conclusion - **Future Outlook**: Woodside is positioned for transformative growth through disciplined execution of its strategy, focusing on maximizing performance, delivering for stakeholders, and creating new opportunities in the energy sector [31][41]

Core Viewpoint - Woodside Energy is positioning itself to thrive during the energy transition by focusing on delivering affordable, reliable, and lower-carbon energy to meet rising global demand, aiming to create long-term shareholder value [1][2]. Financial Performance and Strategy - Woodside has generated approximately US$11 billion in dividends since 2022, showcasing its strong financial performance and commitment to returning value to shareholders [2]. - The company plans to achieve a net operating cash flow of around US$9 billion by the early 2030s, reflecting a compound annual growth rate of over 6% in sales and cash flow from 2024, with a pathway to a 50% increase in dividend per share by 2032 [4]. Growth Projects and Market Demand - Woodside's major growth projects include the Beaumont New Ammonia project, Scarborough Energy Project, offshore Mexico Trion field, and Louisiana LNG, all aimed at capitalizing on robust global demand for LNG, which is forecasted to grow by 60% by 2035 [5][6]. - The company is focused on maximizing performance from its existing assets while also delivering cash-generative projects to sustain and grow the business [3].

Company Overview and Strategy - Woodside's 2024 EBITDA margin was approximately 70%[21] - Woodside has returned approximately $11 billion to shareholders since 2022[21] - Woodside aims to increase annual sales from 2035 MMboe in 2024 to over 300 MMboe by 2032, representing a CAGR increase of over 6%[22] - Woodside projects net operating cash flow to increase from approximately $58 billion in 2024 to approximately $9 billion in 2032, representing a CAGR increase of over 6%[22] Projects and Operations - Scarborough is 91% complete and on track for first LNG in H2 2026[175] - The Scarborough development contains 115 Tcf of proved plus probable (2P) reserves, gross[176] - Trion is 43% complete with first oil targeted for 2028, holding 479 MMboe of proved plus probable (2P) reserves, gross[219] - Louisiana LNG is 19% complete with first LNG targeted for 2029, with a project cost of approximately $159 billion or approximately $960/tonne[223, 225] Market Outlook and Financials - Global ammonia demand is expected to double to over 400 Mtpa by 2050[98] - Woodside is targeting a unit production cost of less than $8/boe in 2025[157] - Woodside is targeting a gearing range of 10-20% through the cycle[138]

Core Viewpoint - Woodside Energy has secured an investment from U.S.-based Williams for its Louisiana LNG project, which will help reduce development costs and provide expertise in U.S. pipeline networks [1] Group 1 - Woodside Energy's partnership with Williams is aimed at enhancing the development of its Louisiana LNG project [1] - The investment from Williams will alleviate some of the financial burden associated with the project's development costs [1] - Williams brings significant knowledge of U.S. pipeline networks, which is expected to benefit the operational aspects of the LNG project [1]

Core Insights - U.S.-based Williams will invest $1.9 billion in the development of LNG facilities and a pipeline for Woodside Energy's $17.5 billion liquefied natural gas project in Louisiana [1] Company Summary - Williams is committing significant capital to enhance its infrastructure in support of Woodside Energy's large-scale LNG project [1] - The investment reflects a strategic move to strengthen partnerships in the energy sector, particularly in liquefied natural gas [1] Industry Summary - The liquefied natural gas sector is witnessing substantial investments, with Woodside Energy's project valued at $17.5 billion, indicating robust growth potential in the industry [1] - The collaboration between U.S. and Australian companies highlights the increasing globalization of energy projects and the importance of cross-border investments in LNG [1]

Group 1: Teck Resources Performance - Teck Resources reported a strong Q3 2025, with adjusted earnings per share of C$0.76, exceeding the analyst estimate of C$0.53 [2] - Revenue for the quarter reached C$3.38 billion, an 18.2% year-over-year increase, surpassing the forecast of C$2.92 billion [2][3] - The performance was driven by higher base-metal prices, particularly copper and zinc, and lower copper smelting charges [3] Group 2: Ford Motor Company Recall - Ford is recalling over 1.4 million vehicles in the U.S. due to a rearview camera issue that can distort or blank the image when in reverse [4][5] - The recall affects various models from 2015-2019, with 18 accidents reported but no injuries [5] Group 3: Woodside Energy Update - Woodside Energy reported a 9% year-on-year decline in Q3 revenue to $3.36 billion, attributed to an 8% decrease in average realized oil prices [6][7] - Despite the revenue dip, Woodside raised its full-year 2025 production guidance to between 192 and 197 million barrels of oil equivalent [7] Group 4: European Space Sector Consolidation - Major European aerospace companies, including Airbus, Thales, and Leonardo, are nearing a $11.6 billion merger of satellite operations, known as Project Bromo [8][10] - This merger aims to create a regional champion to compete against global players like SpaceX, consolidating Europe's fragmented satellite industry [11] Group 5: M&A Activity in Financial Services - PAI Partners is in exclusive negotiations to acquire a majority stake in French wealth manager Cyrus, which manages over €20 billion in assets [12] - Oaktree Capital Management is using private credit to finance its proposed acquisition of Perpetual's wealth management unit, with the sale expected to fetch between $500 million and $1 billion [13]

Core Insights - Woodside Energy Group reported a strong quarterly performance with production reaching 50.8 million barrels of oil equivalent (MMboe), a 1% increase from Q2 2025, and revised full-year production guidance to 192-197 MMboe [5][12][43] - The company achieved a quarterly revenue of $3.359 billion, reflecting a 3% increase from the previous quarter, driven by strong performance from its assets, particularly the Sangomar field [12][45] - Significant progress was made on key projects, including the Scarborough Energy Project, which is 91% complete and on track for first LNG in the second half of 2026 [5][9][21] Quarterly Performance Highlights - Production for the quarter was 50.8 MMboe, with an average realized price of $60/boe, benefiting from diversified pricing strategies [5][12] - Sangomar field produced 99 thousand barrels of oil per day, generating $477 million in revenue for the quarter [5][7] - Pluto LNG achieved 100% reliability during the quarter, contributing to overall operational excellence [5][7] Project Highlights - The Scarborough Energy Project is 91% complete, with first LNG expected in H2 2026 [5][9] - The Beaumont New Ammonia Project is 97% complete, targeting first ammonia production by late 2025 [5][10] - The Louisiana LNG Project is 19% complete, with Train 1 at 25% completion and first LNG targeted for 2029 [5][10] Business and Portfolio Highlights - Woodside received final environmental approval for the North West Shelf Project Extension, allowing operations to continue beyond 2030 [5][8] - The company completed the divestment of the Greater Angostura assets for $259 million [5][19] - Agreements were made for long-term LNG supply with PETRONAS and BOTA, enhancing Woodside's market position [5][11][23] Financial Overview - Capital expenditure for the quarter was $1.323 billion, a 76% increase from Q2 2025, primarily due to ongoing project developments [12][46] - The company maintained liquidity of approximately $8.3 billion as of September 30, 2025 [38] - Woodside's hedging strategy resulted in an estimated pre-tax profit of $139 million for the quarter [41]