Australian FY22 earnings preview - WDS
Woodside Petroleum Limited (WDS) is an Australian petroleum exploration and production company. It is the largest oil and gas production operator in Australia reports its half-year numbers tomorrow, August 30th.
Share this:
Woodside Petroleum Limited (WDS) is an Australian petroleum exploration and production company. It is the largest oil and gas production operator in Australia and reports its half-year numbers tomorrow, August 30th.
In FY 2021, Woodside benefitted from rising oil and gas prices. The company reported an underlying NPAT of Us$1,620 million, up 262%. Production was 91.1 MMboe, and a final dividend of US 105 cents per share (CPS) was declared, bringing the full-year fully franked dividend to US 135 cps.
In June of this year, Woodside completed its merger with BHP’s Petroleum business transforming Woodside into a top 10 global independent energy producer by hydrocarbon production and making Woodside the largest energy company listed on the Australian Securities Exchange.
On completion, Woodside acquired the entire share capital of BHP Petroleum International Pty Ltd and issued 914,768,948 new Woodside shares to BHP. It also received net cash of approximately $1.1 billion, which included the cash remaining in BHPP bank accounts immediately prior to completion.
In a trading update released in late July, for the second quarter for the period ended June 30th, Woodside reported revenues of $3,438m, up 44% from Q1 2022. Woodside also produced 33.8 million barrels of oil equivalent (MMboe), a 60% increase from Q1 2022.
The company noted full-year 2022 production guidance of 145 – 153 million barrels of oil equivalent (MMboe) which combines:
- 2022 production guidance for the pre-merger Woodside assets
- 2022 production guidance for the BHPP assets from June 1st 2022, and
- alignment of the conversion factors for the reporting of boe for all gas products
Woodside Share Price
Last week the share price of Woodside hit a new post-Covid high of $36.20, just a week after the price of crude oil fell to a six-month low.
Behind the push to new highs, the market is taking a bullish medium-term view of the oil price and by association Woodside along with expectations of a bumper earnings report tomorrow - including a large, fully franked dividend.
The chart below shows that the share price is testing downtrend resistance from the 2014 $43.74 high. A sustained break and close above here would allow the share price to retest the $39.38 high of October 2018 before a move towards the all-time $43.74 high.
The most significant risk to the bullish view is a re-emergence of growth/recession concerns into year-end.
Source Tradingview. The figures stated are as of August 29th 2022. Past performance is not a reliable indicator of future performance. This report does not contain and is not to be taken as containing any financial product advice or financial product recommendation
How to trade with City Index
You can trade with City Index by following these four easy steps:
- Open an account, or log in if you’re already a customer
• Open an account in the UK
• Open an account in Australia
• Open an account in Singapore
- Search for the company you want to trade in our award-winning platform
- Choose your position and size, and your stop and limit levels
- Place the trade
Woodside Petroleum Limited (WDS) is an Australian petroleum exploration and production company. It is the largest oil and gas production operator in Australia and reports its half-year numbers tomorrow, August 30th.
In FY 2021, Woodside benefitted from rising oil and gas prices. The company reported an underlying NPAT of Us$1,620 million, up 262%. Production was 91.1 MMboe, and a final dividend of US 105 cents per share (CPS) was declared, bringing the full-year fully franked dividend to US 135 cps.
In June of this year, Woodside completed its merger with BHP’s Petroleum business transforming Woodside into a top 10 global independent energy producer by hydrocarbon production and making Woodside the largest energy company listed on the Australian Securities Exchange.
On completion, Woodside acquired the entire share capital of BHP Petroleum International Pty Ltd and issued 914,768,948 new Woodside shares to BHP. It also received net cash of approximately $1.1 billion, which included the cash remaining in BHPP bank accounts immediately prior to completion.
In a trading update released in late July for the second quarter for the period ended June 30th, Woodside reported revenues of $3,438m, up 44% from Q1 2022. Woodside also produced 33.8 million barrels of oil equivalent (MMboe), a 60% increase from Q1 2022.
The company noted full-year 2022 production guidance of 145 – 153 million barrels of oil equivalent (MMboe) which combines:
- 2022 production guidance for the pre-merger Woodside assets
- 2022 production guidance for the BHPP assets from June 1st 2022, and
- alignment of the conversion factors for the reporting of boe for all gas products
Woodside Share Price
Last week the share price of Woodside hit a new post-Covid high of $36.20, just a week after the price of crude oil fell to a six-month low.
Behind the push to new highs, the market is taking a bullish medium-term view of the oil price and by association Woodside along with expectations of a bumper earnings report tomorrow - including a large, fully franked dividend.The chart below shows that the share price is testing downtrend resistance from the 2014 $43.74 high. A sustained break and close above here would allow the share price to retest the $39.38 high of October 2018 before a move towards the all-time $43.74 high.
The most significant risk to the bullish view is a re-emergence of growth/recession concerns into year-end.
Source Tradingview. The figures stated are as of August 29th 2022. Past performance is not a reliable indicator of future performance. This report does not contain and is not to be taken as containing any financial product advice or financial product recommendation
- Open a Forex.com account, or log in if you’re already a customer.
- Search for the pair you want to trade in our award-winning platform.
- Choose your position and size, and your stop and limit levels.
- Place the trade.
Related tags:
Latest market news
The complete CFD trading experience
Award-winning platforms, competitive spreads, low commissions and dedicated support.
We live and breathe the markets and are dedicated to helping traders realise their ambitions as we continue to set the industry bar.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
Oil Quietly Hands the Fed a Reason to Stay Hawkish
Oil prices and the U.S. dollar are both on the front foot as elevated energy costs feed Fed warnings that inflation may prove sticky.
Crude and dollar rebound as Trump says deal possible after the election
Donald Trump’s speech at the UN seems to have poured cold waters on any hopes of a deal. Crude oil, the US dollar and bond yields all bounced back from their lows, causing fresh pressure on foreign currencies, European indices and to a lesser degree precious metals.
DAX Climbs After Fed Move, Eyes Break Above 26,000 Resistance
The DAX has opened significantly higher following the Federal Reserve's delivery of its first interest rate hike since 2023. Although the Fed signaled further tightening, the market reaction was surprisingly positive, as much of the hawkish expectation had already been priced in. Attention now shifts to the 25,900–26,000 point range, which will likely determine whether the current recovery evolves into a new upward wave or remains merely a short-covering rally.
StoneX Europe Ltd may make third party material available on this website which may contain information included but not limited to the conditions of financial markets. The material is for information purposes only and does not contain, and should not be construed as containing, investment advice and/or investment recommendation and/or an investment research and/or an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the client following an assessment by him/her of their situation.
StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.