WPL is the operator of oil and gas production in Australia.
WPL has operations encompassing the production of liquefied natural gas, domestic gas, condensate, crude oil and liquefied petroleum gas. WPL has six business units including international, Australia, North West Shelf, Pluto, Browse and Sunrise.
Woodside Chief Executive Peter Coleman said that demand for liquefied natural gas in China and India may rise six-fold by 2025. The consumption jump, stemming from Asia increasing its reliance on cleaner energy sources, is driving a boom in Australian LNG production, Coleman said at a Business Forum in Perth.
However, to maximize the benefits from rising Asian demand for the fuel, Australia needs to improve its export infrastructure and increase migration of skilled labour, Coleman said. Woodside is transforming itself into a major regional energy player by building three giant LNG terminals: Pluto, Browse and Sunrise.
WPL has had steady production for the third quarter with sales volumes up 2%. This has flowed through to revenue which was up 5% to $1.3 billion US which is well ahead of expectations. Improved liquids output reflects two new infill wells.
With the current price dip this stock looks like good value for the higher risk investor.
This is more of a trading stock and should only be held in higher risk portfolios.
For more information on Woodside Petroleum (WPL) please contact us on 07 4771 4577.