B07 Oil and Gas Extraction

Profits easier offshore: O’Neill

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Original article by Colin Packham
The Australian – Page: 13 & 17 : 6-Nov-25

Woodside Energy has forecast that its net cash flow from operations will rise to around $US9bn by 2032, compared with about $US5bn in 2024. CEO Meg O’Neill says this growth will be driven by factors such as the start-up of projects such as Scarborough LNG in Western Australia and Trion oil in Mexico, as well as tighter capital management. O’Neill has also warned that the regulatory burden in Australia is making countries such as the US and Mexico more attractive as investment destinations, which is why Woodside is directing more capital to them.

CORPORATES
WOODSIDE ENERGY GROUP LIMITED – ASX WDS

Woodside to run Bass Strait gas venture

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 14 & 18 : 30-Jul-25

Woodside Energy has struck a deal to assume operational control of the Gippsland Basin joint venture with ExxonMobil in Bass Strait. About 1,200 of ExxonMobil’s employees and contractors will be transferred to Woodside as part of the deal, while the company will be able to develop new gas fields without its long-standing partner. Woodside will also be able to proceed with the development of four new gas fields in the Gippsland Basin, subject to final investment approval; they are estimated to contain up to 200 petajoules of gas.

CORPORATES
WOODSIDE ENERGY GROUP LIMITED – ASX WDS, EXXONMOBIL CORPORATION

Nod for Santos’ Narrabri gas project

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Original article by Ryan Cropp
The Australian Financial Review – Page: 17 : 21-May-25

The National Native Title Tribunal has concluded that the Narrabri gas project in NSW is in the national interest and will have a net public benefit. The tribunal has ruled that the state government should lease land in north-western NSW to Santos for the project, which will feature up to 850 gas wells. The Narrabri project was approved by the NSW Independent Planning Commission in 2020; the National Native Title Tribunal’s subsequent decision to grant the leases in late 2022 was challenged by the traditional owners, the Gomeroi people. Santos has agreed to supply all gas from the Narrabri project to the domestic market.

CORPORATES
SANTOS LIMITED – ASX STO, AUSTRALIA. NATIONAL NATIVE TITLE TRIBUNAL, NEW SOUTH WALES. INDEPENDENT PLANNING COMMISSION

Gas green light puts Woodside in front

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Original article by Elouise Fowler
The Australian Financial Review – Page: 16 : 30-Apr-25

Woodside Energy has made a final investment decision to proceed with its e $US17bn ($27bn) Louisiana LNG project in the US. Woodside CEO Meg O’Neill has described the project as a "game-changer" for the oil and gas group. The project, which was previously called Driftwood, was acquired for $1.2bn in 2024. Woodside will contribute $US11.8bn to its development, while the balance will be funded by Stonepeak, which has bought a 40 per cent stake in Louisiana LNG. The project will make Woodside one of the world’s biggest producers of LNG, with a global market share of more than five per cent.

CORPORATES
WOODSIDE ENERGY GROUP LIMITED – ASX WDS

Santos clears last hurdle for $5.8b Barossa gas field

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Original article by Elouise Fowler
The Australian Financial Review – Page: 16 : 23-Apr-25

A spokeswoman for oil and gas group Santos has advised that first production at its Barossa gas project in the Timor Sea remains on track for the September 2025 quarter. The National Offshore Petroleum Safety & Environmental Management Authority has granted the last major regulatory approval for the $5.8bn gas project, which has faced numerous delays due to environmental ‘lawfare’. Santos had advised in February that the Barossa project was 91 per cent complete.

CORPORATES
SANTOS LIMITED – ASX STO, AUSTRALIA. NATIONAL OFFSHORE PETROLEUM SAFETY AND ENVIRONMENTAL MANAGEMENT AUTHORITY

Santos seeks LNG supplies as contract expiry nears

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Original article by Colin Packham
The Australian – Page: 17 : 25-Mar-25

Santos will seek short-term gas supply contracts for its Gladstone LNG project in Queensland, as its 10-year supply deal with the Australia Pacific LNG venture is set to end in May. Another gas supply deal with AGL Energy is slated to end in 2027. However, a gas industry source has warned that the domestic market is not big enough to replace the hundreds of petajoules that Santos has acquired from APLNG and AGL under the existing supply deals. They note that Santos may have to pay more for gas, given that the market has changed substantially since the existing supply contracts were signed.

CORPORATES
SANTOS LIMITED – ASX STO, AUSTRALIA PACIFIC LNG LIMITED, AGL ENERGY LIMITED – ASX AGL

Exporters brace for LNG new wave

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 12 : 8-Jan-25

Global supply of LNG is expected to ramp up in 2025, which is likely to weigh on local producers and the federal government’s revenue. The increase in production had been slated to occur in 2024, but delays to a number of LNG projects resulted in this being pushed back to 2025. Meanwhile, EnergyQuest notes that global output of LNG is expected to rise by about 50 million tonnes per annum from 2026, while Saul Kavonic from MST Marquee says there is likely to be a global oversupply of LNG beyond 2026.

CORPORATES
ENERGYQUEST PTY LTD, MST MARQUEE

Australia falling behind as global LNG producer

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Original article by Colin Packham
The Australian – Page: 13 & 16 : 15-Oct-24

ConocoPhillips Australia’s president Jan-Arne Johansen has warned that the nation’s status as one of the world’s biggest exports of LNG is under threat. He notes that both the US and Qatar are ramping up their LNG exports, while Australia’s investment in the sector is falling behind. Johansen adds that the nation’s fiscal, regulatory and project approval regimes must be internationally competitive if it is to attract the investment capital that is needed for the LNG sector. He notes that Australia has sufficient gas resources to supply the domestic and export markets.

CORPORATES
CONOCOPHILLIPS AUSTRALIA PTY LTD

Timor-Leste lays down ultimatum to Santos on gas project negotiations

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Original article by Peter Milne
The Age – Page: Online : 27-Aug-24

Sources have indicated that the Timor-Leste government is seeking a stake of at least 10 per cent in the Bayu Undan gas project in the Timor Sea. The production-sharing contracts of Santos and its partners in the project are slated to expire on 30 August; Timor-Leste’s Petroleum Minister Francisco da Costa Monteiro has written to Santos warning that the contracts will not be extended unless the Bayu Undan partners agree to the government’s demands. The gas fields are almost depleted, and Santos proposes to use them to store carbon from its Barossa gas project.

CORPORATES
SANTOS LIMITED – ASX STO, EAST TIMOR. MINISTRY OF NATURAL RESOURCES, MINERALS AND ENERGY

Watchdog threatens critical Browse

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Original article by Colin Packham
The Australian – Page: 18 : 7-Aug-24

Woodside Energy’s CEO Meg O’Neill has emphasised the importance of the company’s Browse LNG project. She contends that Browse is the only gas field of sufficient size to meet the forecast demand for energy over the near-term. The Browse project’s future is under scrutiny following a preliminary ruling from Western Australia’s Environmental Protection Authority that it presents a "unacceptable risk" to marine ecology. The EPA is expected to make a final recommendation on the project in 2025, although it can be overruled by the federal government. O’Neill has also defended Woodside’s deal to acquire a low-carbon ammonia project in the US.

CORPORATES
WOODSIDE ENERGY GROUP LIMITED – ASX WDS, WESTERN AUSTRALIA. ENVIRONMENTAL PROTECTION AUTHORITY