Half Year 2024 Woodside Energy Group Ltd Earnings Call Transcript
Key Points
- Woodside Energy Group Ltd (WOPEF) reported a net profit after tax of $1.9 billion for the first half of 2024.
- The company declared a fully franked interim dividend of 69 US cents per share, at the top end of their payout ratio range.
- Unit production costs were reduced by 6% despite an inflationary environment.
- The Sangomar project achieved nameplate capacity of 100,000 barrels per day with all 24 wells drilled and completed.
- Scarborough energy project is 67% complete and on track for first LNG cargo in 2026.
- Overall safety performance is not yet meeting expectations, despite some positive results.
- The company expects gearing to go above the top end of their 10%-20% target range due to recent acquisitions.
- There are ongoing challenges with the Scarborough operations environment plan and regulatory approvals.
- Concerns were raised about the impact of the recent acquisitions on the company's balance sheet and dividend sustainability.
- The company faces potential risks from the Senegalese government's interest in renegotiating contracts for the Sangomar project.
' -
Good morning, everyone, and welcome to Woodside's 2024 Half Year Results Presentation. We are presenting from Sydney, and I would like to begin by acknowledging the traditional custodians of this land, the Gadigal people of the Eora Nation and pay my respects to their elders past and present.
Today, I'm joined on the call by our Chief Financial Officer, Graham timber. Together we will provide an overview of our half year 2024 performance. Before opening up to Q&A, please take the time to read the disclaimers, assumptions and other important information.
I'd like to remind you that all dollar figures in today's presentation are in U.S. dollars unless otherwise indicated. I am very pleased to present a strong set of half-year results today. They are a testament not just to our operating performance in the past six months, but also demonstrate how we are delivering on our strategy to thrive through the energy transition. This strategy is underpinned by three
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
