ENERGY INDUSTRIES – AUSTRALIA

Shell deal may hurt Woodside growth plans

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Original article by Paul Garvey
The Australian – Page: 20 : 6/19/2014

The stock of Australian-listed energy group Woodside Petroleum on 18 June 2014 closed $A1.95 lower at $A40.90. This compares with a price of $A41.35 for the institutional investors acquiring scrip in the partial divestment of its Woodside stake by Royal Dutch Shell. As part of the reduction from 23.1% to less than 4.5%, Shell is also selling $US2.68bn ($A2.86bn) worth of stock back to Woodside. Experts warn this may hamper the latter’s acquisitions strategy. Woodside needs to secure a major new project to fill a gap once current LNG developments mature

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, ROYAL DUTCH SHELL PLC, BHP BILLITON LIMITED – ASX BHP, DEUTSCHE BANK AG, UBS HOLDINGS PTY LTD

Shell out: Woodside’s new era

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Original article by Andrew Burrell
The Australian – Page: 21 and 25 : 18-Jun-14

Royal Dutch Shell will receive $US2.68bn ($A2.86bn) from Australian-listed Woodside Petroleum, for 9.5% of the latter’s stock at a price per share of $A36.49. Shell will also divest a tranche of the same size at $A41.35 to institutional investors, and reduce its holding in Woodside to no more than 4.5%. The Australian Taxation Office has given Woodside permission to use franking credits in order to lower the price by 14%. CEO Peter Coleman notes the more efficient capital structure being created by the stock repurchasing move, and says it will have no adverse impact on exploration or acquisitions

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, ROYAL DUTCH SHELL PLC, AUSTRALIAN TAXATION OFFICE, GOLDMAN SACHS AUSTRALIA PTY LTD, CITIGROUP PTY LTD, UBS HOLDINGS PTY LTD, MORNINGSTAR PTY LTD, PLATO INVESTMENT MANAGEMENT LIMITED, PATERSONS SECURITIES LIMITED