Core Insights - The US is experiencing a natural gas export boom, becoming the world's top exporter of liquefied natural gas (LNG) [2] - There is a looming deadline for LNG projects, as global supply is expected to exceed demand by 2027, with competition from Qatar and potential increases in Russian gas exports to China [2] Project Developments - Four US LNG projects with a combined capacity of 63 million tons per year are awaiting final investment decisions [3] - The $35 billion Golden Pass LNG project in Texas is delayed to 2025 due to labor shortages and contractor bankruptcy [3] Key Projects Under Construction - **Louisiana LNG**: A $17.5 billion project by Woodside Energy, expected to be operational by 2029 [5] - **Corpus Christi LNG Expansion**: Cheniere Energy's $2.9 billion expansion will increase capacity to 30 million tons per year by the end of the decade [6] - **CP2 LNG**: Venture Global's $15.1 billion project in Louisiana is set to start in 2027, following a permitting pause [7] Projects Awaiting Final Decisions - **Rio Grande LNG Expansion**: NextDecade Corp. is seeking funding for an expansion that would add 12 million tons of capacity per year [8] - **Port Arthur LNG Expansion**: Sempra is looking to double capacity but has not provided a timeline for the final investment decision [11] - **Commonwealth LNG**: Aiming for a final investment decision in Q3 for its project near Cameron, Louisiana [12] - **Lake Charles LNG**: Energy Transfer plans to make a final investment decision by Q4 but has not fully contracted its capacity [13]

Group 1 - Woodside Energy Trading Singapore has finalized a 15-year sale and purchase agreement with Petronas LNG Limited for the supply of 1 million tonnes per annum of liquefied natural gas to Malaysia [1][2] - The LNG supply will commence in 2028 and may include volumes from the recently approved Louisiana LNG project in the US [2] - This agreement marks Woodside's first long-term LNG supply arrangement with Malaysia, representing a strategic milestone for the company [2][3] Group 2 - The agreement enhances Woodside's position as a trusted energy supplier in Asia and supports long-term value creation and regional prosperity [3] - It aligns with Petronas' strategy to improve energy security in Peninsular Malaysia by integrating upstream gas developments with LNG imports [3][4] - The collaboration addresses the increasing energy demand driven by the rise of data centers, AI adoption, and the transition from coal-fired generation [4][5]

Core Insights - The article does not provide specific insights or analysis regarding any companies or industries, focusing instead on disclosures and disclaimers related to investment positions and advice [1][2] Group 1 - There is no stock, option, or similar derivative position held by the author in any mentioned companies, nor plans to initiate such positions in the next 72 hours [1] - The article expresses personal opinions of the author and does not reflect the views of Seeking Alpha as a whole [2] - Seeking Alpha's analysts include both professional and individual investors who may not be licensed or certified by any regulatory body [2]

Core Viewpoint - Woodside Energy has entered into a long-term agreement with Petronas to supply 1 million metric tons of liquefied natural gas (LNG) annually for 15 years, indicating a significant partnership in the energy sector [1] Company Summary - Woodside Energy will supply 1 million metric tons of LNG per annum to Petronas, starting from an unspecified date [1] - The agreement spans a duration of 15 years, highlighting Woodside's commitment to long-term energy supply contracts [1] Industry Summary - The deal reflects ongoing trends in the liquefied natural gas market, where long-term supply agreements are crucial for stability and investment [1] - Collaborations between state-owned enterprises and private companies, such as Petronas and Woodside, are becoming increasingly common in the energy sector [1]

HALF-YEAR REPORT FOR PERIOD ENDED 30 JUNE 2025 ASX: WDS | NYSE: WDS Tuesday, 19 August 2025 Strong global portfolio delivers value and growth Strong first half performance Achieving operational excellence Strong financial outcomes and capital discipline Comparative performance | | | H1 | H1 | Change | | --- | --- | --- | --- | --- | | | | 2025 | 2024 | % | | Operating revenue | $ million | 6,590 | 5,988 | 10% | | Underlying NPAT1 | $ million | 1,247 | 1,632 | (24%) | | Free cash flow1,3 | $ million | 272 | ...

Financial Data and Key Metrics Changes - The company reported a net profit after tax of over $1.3 billion, with an EBITDA margin of 70%, which remains peer-leading despite lower realized prices and inflationary pressures [6][27] - The interim dividend was set at $0.53 per share, representing a half-year annualized yield of 6.9%, consistent with the company's policy to pay a minimum of 50% of underlying NPAT [5][34] - Unit production costs were reduced by 7%, with the average cost now at $7.7 per barrel of oil equivalent, and guidance for the full year adjusted to $8 to $8.5 per barrel [6][9][48] Business Line Data and Key Metrics Changes - Sangomar's production contributed significantly, achieving an outstanding half-year production of 548,000 barrels of oil equivalent per day, with total production reaching 99.2 million barrels of oil equivalent [5][11] - Marketing and trading activities generated a strong contribution of $144 million, accounting for approximately 8% of total EBIT [6] Market Data and Key Metrics Changes - The global LNG demand is expected to rise by approximately 60% by 2040, with Woodside positioned to meet this demand through projects like Scarborough and Louisiana LNG [14] - Gas hub exposure on produced LNG was 24.2%, realizing a premium of approximately 3% per MMBtu compared to oil-linked sales, indicating the value of price diversity in volatile markets [15] Company Strategy and Development Direction - The company aims to position itself as a global LNG powerhouse, focusing on sustainable operations and maximizing value from its core assets [4][19] - The acquisition of operatorship of Bass Strait assets from ExxonMobil is expected to strengthen Australian operations and unlock potential development opportunities [12][62] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of securing reliable and affordable energy supply while reducing emissions, highlighting the role of LNG in achieving these goals [13][14] - The company remains committed to safety and sustainability, with no high-consequence injuries reported during the period [5][39] Other Important Information - The company has made significant contributions to the Australian economy, paying AUD 1.3 billion in taxes, royalties, and levies during the half [40] - The Louisiana LNG project is seen as a game changer, with construction progressing and strong interest from potential partners for equity sell-downs [19][20] Q&A Session Summary Question: Update on Sangomar's performance and Phase two development - Management confirmed positive initial results from the S400 sand units and indicated that further data will inform decisions around Phase two development [45][46] Question: Unit production costs guidance - The guidance was adjusted to $8 to $8.5 per barrel, with Sangomar's strong performance contributing to the reduction [48][49] Question: Louisiana LNG sell-down expectations - Management stated that the project is advantaged, with competitive construction costs, and emphasized the importance of selecting the right partners [51][52] Question: Beaumont Demonia production schedule - The delay in production is due to construction delays managed by OCI, with no cost impact to Woodside [56][57] Question: Bass Strait development opportunities - Management expressed excitement about the operatorship transition and the potential for developing contingent resources [62] Question: Update on MOU with Aramco - Discussions with Aramco are ongoing, focusing on investment opportunities in LNG and low carbon ammonia [71][72] Question: Dividend payout ratio and balance sheet management - Management is confident in maintaining a strong balance sheet and generating strong cash flows to support the high payout ratio [75][78] Question: LNG carrier leasing plans - The company prefers leasing LNG carriers rather than owning them, with ongoing discussions about balance sheet exposure [94] Question: Decommissioning cost challenges - Management confirmed that lessons learned from decommissioning closed sites are being integrated into future planning to avoid similar challenges [96][97]

Financial Data and Key Metrics Changes - The company reported a net profit after tax of over $1.3 billion, with earnings of $0.69 per share, reflecting strong financial performance despite lower realized prices and inflationary pressures [5][27][34] - Unit production costs were reduced by 7%, bringing the average to $7.70 per barrel of oil equivalent, with guidance for the full year set between $8.00 and $8.50 [5][8][49] - The interim dividend was set at $0.53 per share, representing a half-year annualized yield of 6.9%, consistent with the company's policy to pay a minimum of 50% of underlying NPAT [4][34][80] Business Line Data and Key Metrics Changes - Sangomar's production reached 548,000 barrels of oil equivalent per day, contributing significantly to the overall production of 99.2 million barrels of oil equivalent [4][5] - Marketing and trading activities generated a strong contribution of $144 million, accounting for approximately 8% of total EBIT [5][27] - The Louisiana LNG project is 22% complete, with a target for first LNG cargo in 2026, and has secured long-term offtake agreements [19][20][22] Market Data and Key Metrics Changes - The global LNG demand is expected to rise by approximately 60% by 2040, driven by increasing energy consumption in non-OECD Asia Pacific countries [13][14] - Gas hub exposure on produced LNG was 24.2%, realizing a premium of approximately 3% per MMBtu compared to oil-linked sales [15] - The company is well-positioned to meet growing LNG demand with projects like Scarborough and Louisiana LNG in the pipeline [14][15] Company Strategy and Development Direction - The company aims to maximize value through its global marketing and trading business, leveraging its diverse portfolio of high-quality assets [14][15] - The strategic acquisition of operatorship of Bass Strait assets from ExxonMobil is expected to enhance operational capabilities and unlock additional gas resources [11][12] - The company is focused on sustainable operations, with no significant environmental impacts reported and a commitment to reducing greenhouse gas emissions [4][39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver strong returns and navigate the energy transition, emphasizing the importance of safety and sustainability [41][39] - The ongoing exceptional performance of Sangomar and the strategic positioning of Louisiana LNG were highlighted as key drivers for future growth [11][19] - Management acknowledged the challenges in securing federal approvals for the North West Shelf Extension but remains optimistic about a positive outcome [10][10] Other Important Information - The company has maintained a strong liquidity position with $8.4 billion available, and gearing remains within the targeted range of 10% to 20% [36][37] - Significant contributions to the Australian economy were noted, with $1.3 billion paid in taxes, royalties, and levies during the half [40] - The company is actively managing its decommissioning operations, with lessons learned from past challenges being integrated into future planning [26][68] Q&A Session Summary Question: Update on Sangomar's performance and Phase two development - Management confirmed positive initial results from the S-four 100 sand units and indicated that further data will inform decisions around Phase two development [46][48] Question: Insights on unit production cost reductions - Management attributed the reduction in unit production costs to strong performance at Sangomar and ongoing cost control measures across the business [49][50] Question: Status of Louisiana LNG equity sell-down negotiations - Management stated that the project remains advantageous, with competitive construction costs and a disciplined approach to selecting partners [52][54] Question: Update on Beaumont Demonia's production schedule - Management clarified that delays were due to construction issues managed by OCI, with no cost impact to Woodside, and emphasized the focus on marketing efforts [56][58] Question: Development opportunities in Bass Strait - Management expressed excitement about the operatorship transition and the potential for developing long-standing gas discoveries [64][65] Question: Update on MOU with Aramco - Management confirmed ongoing constructive discussions with Aramco regarding investment opportunities in LNG and low carbon ammonia [73][74] Question: Dividend payout and balance sheet management - Management reassured that the strong performance and disciplined capital management support the decision to maintain a high payout ratio [77][80] Question: Update on LNG carrier plans - Management indicated a preference for leasing LNG carriers rather than owning them, with ongoing evaluations of balance sheet exposure [98][99]

Financial Performance - The company's average first-half 2025 production increased to 548 Mboe/day, with a total production of 99.2 MMboe, representing an 11% increase[15] - Unit production costs decreased by 7% to $7.7 per boe[15] - The company achieved an EBITDA of $4.6 billion and a peer-leading 70% EBITDA margin[21] - Underlying NPAT was $1.2 billion, a 24% decrease primarily due to lower average realized prices and Sangomar depreciation[21] - An interim dividend of 53 US cps was declared, representing an annualised yield of 6.9%[16] Operational Highlights - LNG asset reliability was 96%[19] - Marketing EBIT contribution was $144 million, representing approximately 8% of total EBIT[19] - Sangomar delivered significant revenue of approximately $1 billion (Woodside share)[38] - The company added 25.5 MMbbl to proved (1P) reserves in 2025 from Sangomar (Woodside share)[40] Strategic Developments - Louisiana LNG project achieved strong momentum following FID, with Train 1 being 22% complete[59] - A 40% sell-down to Stonepeak was completed for the Louisiana LNG project, with Stonepeak contributing $5.7 billion, including funding 75% of expected 2025–2026 capex[60] Sustainability - The company reported no high consequence injuries in H1 2025[16] - The company is on track to achieve net equity Scope 1 and 2 greenhouse gas emissions reduction targets[16]

Group 1 - Woodside Energy (NYSE: WDS) reported impressive first-quarter earnings in early April, leading to a significant stock price increase from $11.54 to the upper $16s over the past couple of months [1] - The stock rally was attributed to positive market reactions following the earnings release, indicating strong investor confidence in the company's performance [1] Group 2 - The investment group The Daily Drilling Report, led by an expert in the oil and gas industry, provides comprehensive investment analysis covering various segments of upstream oilfield activity [1] - The group offers a model portfolio with weekly updates, investment ideas for both U.S. and international energy companies, and technical analysis to identify potential catalysts [1]

Core Viewpoint - Woodside Energy (NYSE: WDS) is viewed as a long-term investment opportunity despite current challenges in the energy sector, including weak energy prices and tariff uncertainties [1]. Company Summary - Woodside Energy has faced share price pressure due to unfavorable market conditions affecting energy companies [1]. - The company is recognized for its potential in the energy space, indicating a belief in its long-term viability and growth prospects [1]. Industry Summary - The energy sector is currently experiencing weak prices, which has negatively impacted investor sentiment and stock performance across the industry [1].