Woodside Energy (US:WDS)2024-08-27 04:27Financial Performance - Woodside reported a net profit after tax (NPAT) of $1.9 billion, an 11% increase compared to H1 2023[32] - Underlying NPAT was $1.6 billion, a 14% decrease compared to H1 2023[32, 79] - Free cash flow was $740 million[23, 32] - The company declared an interim dividend of 69 US cents per share, fully franked[23, 62] - The company's gearing ratio was 133%, within the target range of 10-20%[32, 61] Operational Performance - Production volume was 893 million barrels of oil equivalent (MMboe)[30] - Unit production cost was $83 per barrel of oil equivalent (boe), a 6% reduction[30, 31] - Operated LNG facilities achieved a reliability of 979%[32] - The average realized price was $626 per boe[32] Project Updates - The Sangomar project achieved first oil and nameplate capacity of 100,000 barrels per day[23, 45, 47] - The Scarborough Energy Project is 67% complete and on track for first LNG cargo in 2026[23, 48] - The Trion project is approaching 10% completion, with first oil expected in 2028[51] Strategic Acquisitions - Woodside is pursuing the acquisition of Tellurian, which would provide a 276 Mtpa US LNG development option[54] - The company is also acquiring OCI's Clean Ammonia Project, targeting first ammonia production in 2025 and lower carbon ammonia in 2026[56, 57]