Woodside Energy Group 株価情報 (NYSE: WDS)

最新ニュース Woodside Energy Group (NYSE:WDS) 株価情報

Woodside Energy Group

Incorporated in 1954 and named after the small Victorian town of Woodside, Woodside's early exploration focus moved from Victoria's Gippsland Basin to Western Australia's Carnarvon Basin. First LNG production from the North West Shelf came in 1984. BHP Billiton and Shell each had 40% shareholdings before BHP sold out in 1994 and Shell sold down to 34%. In 2010, Shell further decreased its shareholding to 24%. Woodside has the potential to become the most LNG-leveraged company globally.

Woodside Energy Group Limited American Depositary Shares, each representing one Ordinary Share

Woodside Energy Group Ltd

WORLD SCAN PROJ INC by WORLD SCAN PROJ INC

World Scan Project Inc

<h2 class="wp-block-heading">New On The Block</h2>
Honeywell (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>) is back at it again with big plans and boardroom brainstorms. This time, the Charlotte, North Carolina-based company is considering sending its aerospace business <a href="https://www.benzinga.com/news/asset-sales/24/12/42505835/honeywell-advances-strategic-review-explores-aerospace-business-separation">off to fly solo</a>. Recently, Honeywell unveiled plans to spin off its Advanced Materials business into a standalone public company by late 2025 or early 2026. Additionally, the company is selling its Personal Protective Equipment (PPE) business to Protective Industrial Products for $<a href="https://www.benzinga.com/24/11/42140202/honeywell-to-exit-ppe-business-with-1325-billion-sale-plans-advanced-materials-spinoff">1.325 billion in cash</a>.
Textron Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TXT#NYSE">TXT</a>) has decided it's time to <a href="https://www.benzinga.com/news/guidance/24/12/42558931/textron-hits-the-brakes-on-powersports-strategic-shift-amid-soft-demand">hit the brakes on</a> its Powersports product line, part of the Industrial segment&#8217;s Textron Specialized Vehicles business. The segment manufactures snowmobiles and off-road vehicles under the Arctic Cat label. Deere &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>) is rumored to be interested in acquiring it. Textron expects to wrap up its restructuring in the first half of the new year.
DLocal, a Latin American payments provider with a market value of about $3.6 billion, is on the auction block. The Montevideo, Uruguay-based company hired Morgan Stanley to gauge takeover offers from bidders. Private equity firm General Atlantic is DLocal&#8217;s largest shareholder.
<h2 class="wp-block-heading">Updates From The Block</h2>
The European Commission <a href="https://www.benzinga.com/government/regulations/24/12/42621868/nvidia-secures-eu-approval-for-runai-deal-us-probes-china-export-breach">granted unconditional approval</a> for Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) to acquire Run:ai Labs Ltd, an Israel-based provider of GPU orchestration software. The decision under the EU Merger Regulation concluded the acquisition would not raise competition concerns within the European Economic Area. Nvidia aims to integrate Run: ai&#8217;s software into its ecosystem. Run:ai specializes in software that helps organizations optimize and manage their artificial intelligence compute workloads across various environments, including on-premises and cloud platforms.
Soho House's billionaire chairman Ron Burkle wants to whisk the private members' club away from the U.S. stock market. Burkle and his squad of investors have thrown down a flashy <a href="https://www.benzinga.com/24/12/42597812/soho-house-jumps-over-50-on-receiving-acquisition-offer-with-83-premium">$1.8 billion buyout bid</a>, offering $9 per share—a snazzy 83% premium to the stock&#8217;s closing price on Wednesday, Dec. 18. This isn't Soho House's first flirtation with delisting. Just a few months ago, it turned down a mysterious suitor's offer.
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<h2 class="wp-block-heading">Off The Block</h2>
Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) and Woodside Energy Group Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WDS#NYSE">WDS</a>) <a href="https://www.benzinga.com/news/contracts/24/12/42584936/chevron-secures-larger-north-west-shelf-stake-in-asset-swap-400m-payment-to-woodside">finalized an asset swap deal</a> on Wednesday. As part of the agreement, Woodside will transfer its 13% non-operated interest in the Wheatstone Project and its 65% operated interest in the Julimar-Brunello Project in Western Australia. In return, Woodside will acquire Chevron&#8217;s 16.67% stakes in the North West Shelf Project and the NWS Oil Project, along with a 20% interest in the Angel Carbon Capture and Storage Project. Additionally, Chevron will make a cash payment to Woodside of up to $400 million. This includes a $300 million payment at completion, and contingency payments of up to $100 million, tied to the handover of the Julimar Phase 3 Project and subsequent production performance.
<h2 class="wp-block-heading">Bankruptcy Block</h2>
Furnishing and retailer Big Lots Inc.&#8216;s Chapter 11 bankruptcy filing in September and impending store closures could benefit rival Ollie&#8217;s Bargain Outlet Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLLI#NASDAQ">OLLI</a>), JPMorgan analyst Matthew R. Boss says. On Sept. 9, Big Lots filed for Chapter 11 and announced a subsequent sale of its assets to Nexus Capital Management LP. The company&#8217;s stock was subsequently delisted from the New York Stock Exchange. Its third-quarter financial report revealed a company struggling with declining sales, eroding margins and a continual bleeding of cash. On Dec. 19, the Columbus, Ohio-based company said its sale to Nexus Capital fell through, noting it &#8220;continues to work toward completing an alternative going concern transaction with Nexus or another party.&#8221; CEO Bruce Thorn announced a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42624759/big-lots-holds-liquidation-sales-analyst-pegs-competitor-as-major-beneficiary-market-share-capture-opportunity">going-out-of-business sale</a>.
FTX announced that its<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42151412/bankrupt-crypto-exchange-ftx-to-commence-payments-to-customers-creditors-in-early-2025"> Chapter 11 bankruptcy reorganization plan</a> will become effective on Jan. 3, 2025. Customer and creditor distributions will be facilitated through partnerships with cryptocurrency platforms Kraken and BitGo. The first round of distributions is expected to occur within 60 days of the plan's effective date. The initial distribution will cover holders of allowed claims in the Convenience Classes, while timelines for other claim classes will be announced later.
<h2 class="wp-block-heading">Notes From The Block</h2>
Benzinga recently interviewed Tony Roma&#8217;s CEO Mohaimina (Mina) Haque on a variety of topics, including the restaurant chain&#8217;s capital raising initiatives:
<h3 class="wp-block-heading">BZ: What's the global stage look like?</h3>
There's a lot of interest globally. We are in Dubai and Berlin as well as Kuala Lumpur, Malaysia and Perth, Australia. There is a lot of brand awareness. Stateside, as Gen Z and millennials were growing up, there was a decrease in unit size. So, we are working on building that bridge between those who are nostalgic for Tony Roma's and those who haven't experienced it yet. There are challenges, including the supply chain and ensuring that franchise partners uphold our intellectual property.
<h3 class="wp-block-heading">BZ: Is M&amp;A still on the cards?</h3>
It is a possibility. We have parties interested in helping us to expand our global and national footprint. So, it's still in the cards, with either a venture capital or private equity firm. For anyone interested and who wants to see more explosive growth for the company, we are looking for partners capable of heavy capital infusion.
<h3 class="wp-block-heading">BZ: What size investment do you think would you go to ballpark it?</h3>
If I have to ballpark it, maybe somewhere between $10 million and $20 million
For the <a href="https://www.benzinga.com/general/restaurants/24/12/42553401/comfort-food-comeback-how-mina-haque-plans-to-make-tony-romas-sizzle-again">full Q&amp;A, click here</a>.
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Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) and Woodside Energy Group Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WDS#NYSE">WDS</a>) <a href="https://www.benzinga.com/pressreleases/24/12/b42566747/woodside-simplifies-portfolio-and-unlocks-long-term-value" target="_blank" rel="noreferrer noopener">finalized an asset swap deal</a> on Wednesday.
What Happened: Woodside will transfer its 13% non-operated interest in the Wheatstone Project and its 65% operated interest in the Julimar-Brunello Project in Western Australia.
In return, Woodside will acquire Chevron&#8217;s 16.67% stakes in the North West Shelf Project and the NWS Oil Project, along with a 20% interest in the Angel Carbon Capture and Storage Project.
Additionally, Chevron will make a cash payment to Woodside of up to $400 million. This includes a $300 million payment at completion, and contingency payments of up to $100 million, tied to the handover of the Julimar Phase 3 Project and subsequent production performance.
Additionally, cashflows of around $400 million are forecasted from utilizing depreciable tax bases upon completion.
Chevron will also provide Woodside with a $100 million advance payment upon execution of the transaction, which is refundable by Woodside if the transaction is not complete.
The transaction is expected to close in 2026 since it is contingent upon the completion of the Julimar Phase 3 Project execution and handover.
Why It Matters: The Julimar Phase 3 Project is currently in the execution phase. Woodside will continue to manage it until the asset is transferred to Chevron at the project start-up.
Woodside CEO Meg O&#8217;Neill said, &#8220;This transaction simplifies our portfolio, improving our focus and efficiency by consolidating our position in our operated LNG assets. It is immediately cash flow accretive and includes a cash payment upon both execution and completion.&#8221;
&#8220;This year, the North West Shelf Project and its Karratha Gas Plant celebrated 40 years of operations. The Western Australian Government&#8217;s recent decision to extend the environmental approval for the North West Shelf Project supports its ongoing contribution to reliable energy supply for local and global customers.&#8221;
&#8221;This transaction creates greater opportunity to fill emerging processing capacity and maximise value accretive recovery from the North West Shelf Project.&#8221;
&#8220;Additionally, this improves joint venture planning for decarbonization opportunities at Karratha Gas Plant. Our increased equity in the Angel CCS Project also supports future development of this large-scale, multi-user carbon capture and storage hub in Western Australia.&#8221;
Price Action: Chevron shares rose 0.29% at $144.50, while WDS shares are up 1.53% at $14.60  premarket on Thursday.
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Image: Shutterstock

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Chevron, Woodside Finalize Asset Swap In $400 Million Deal

Woodside and Chevron have agreed to an asset swap under which Woodside will acquire Chevron's interest in the North West Shelf (NWS) Project, the NWS Oil Project and the Angel Carbon Capture and Storage (CCS) Project, and transfer all of its interest in both the Wheatstone and Julimar-Brunello Projects to Chevron. Chevron will also make a cash payment to Woodside of up to $400 million.
The transaction highlights include:
<ul>
<li>Streamlines Australian portfolio and consolidates focus on operated LNG assets;</li>
<li>Simplifies NWS joint venture ownership, unlocking economic recovery of existing production and future development opportunities; and</li>
<li>Strengthens near-term cash flow to support shareholder distributions and ongoing investments.</li>
</ul>

Reported Earlier, Woodside Reshapes Portfolio With Chevron Asset Swap, Gaining LNG And CCS Project Interests

Reported Earlier, Woodside Energy Signs Revised EPC Contract With Bechtel For Louisiana LNG Project

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Shares of oil and gas companies are lower ahead of OPEC's supply decision on Thursday. The commodity may be falling due to ongoing conflict in the Middle East.

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Shares of energy and oil stocks are trading higher amid a rise in the price of oil, which gained on Russia-Ukraine tensions and a Norway oilfield shutdown.

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Shares of oil and gas companies are trading lower following a build in US crude inventories.

Reported Earlier, Woodside Energy To Delist From London Stock Exchange, Last Trading Day Set For November 19

<ul>
<li>Record quarterly production of 53.1 MMboe (577 Mboe/day), up 20% from Q2 2024 due to ramp-up of Sangomar, increased uptime across operated assets including 99.9% LNG reliability at Pluto and increased seasonal domestic gas demand. Full-year production guidance has been narrowed to 189&ndash;195 MMboe.</li>
<li>Quarterly revenue of $3,679 million, up 21% from Q2 2024 primarily due to Sangomar cargo sales and higher average LNG prices.</li>
<li>Achieved nameplate capacity at Sangomar with gross production rates of 100,000 barrels per day.</li>
<li>Capitalised on increased gas-hub prices by selling 39% of produced LNG cargoes in the quarter on prices linked to gas hub indices.1&nbsp;Full year gas hub guidance has been increased to 33&ndash;37% of produced LNG</li>
</ul>

Earnings

Woodside Energy Reported Q3 Revenue Of $3.679B Up 13% YoY, +21% Sequentially; Delivered Quarterly Production Of 53.1 MMboe (577 Mboe/day), Up 18% Sequentially

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Shares of energy stocks are trading lower as oil prices fall after Israel reportedly indicated it could target military sites in Iran but not oil or nuclear targets.

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Shares of energy companies are trading lower, pulling back after recently rising amid Middle East tensions. China stimulus uncertainty may also be impacting the demand outlook.

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Shares of energy companies are trading higher amid heightening Middle East tensions. A report suggests Iran is preparing to directly attack Israel, which could create shocks to the global economy.

Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) reportedly ruled out taking an equity stake in Woodside Energy Group Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WDS#NYSE">WDS</a>) <a href="https://www.benzinga.com//node/39879353">upcoming acquisition of Driftwood LNG in Louisiana.</a>
Colin Parfitt, head of midstream operations, told Reuters that Chevron can effectively monetize its U.S. gas without converting it to LNG.
The decision reflects the company&#8217;s earlier choice to bypass investment in U.S. LNG plant construction and sell its gas directly to the market instead.
In July 2023, Chevron executives said in an interview that the company is confident in its &#8216;buy-rather-than-build&#8217; strategy, which an S&amp;P Global <a target="_blank" href="https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/natural-gas/072023-interview-chevron-prefers-buying-us-lng-to-building-export-projects" rel="noreferrer noopener">report </a>highlighted.
During the interview, the company&#8217;s executives stated that Chevron&#8217;s U.S. LNG offtake contracts support its goal of increasing international sales of Permian Basin production, while the company will primarily leave U.S. midstream infrastructure development to third parties to focus on upstream and downstream investments.
In 2022, Chevron&nbsp;U.S.A. entered into long-term <a href="https://lngir.cheniere.com/news-events/press-releases/detail/253/cheniere-and-chevron-sign-long-term-lng-sale-and-purchase">LNG </a>sale and purchase agreements with Cheniere Energy. Notably, given the current interest rate environment, it&#8217;s interesting that Chevron chose not to invest in the construction of a U.S. LNG plant.
Recently, the Federal Reserve decided to reduce interest rates by 50 basis points leading to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40937291/bank-stocks-hit-inflection-point-after-feds-50-basis-point-cut-analyst-reveal-top-p" target="_blank" rel="noreferrer noopener">surge in optimism across major sectors</a>.
Further into the future, the Dot Plot signals the fed funds rate will drop to between 3.25% and 3.5% by the end of 2025, implying an additional 100 basis points of cuts. By the end of 2026 and the newly introduced projections for 2027, <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40926026/federal-reserve-delivers-bold-0-5-rate-cut-signals-further-easing-ahead" target="_blank" rel="noreferrer noopener">interest rates are expected to fall to 2.9%</a>.
It remains uncertain whether the company will alter its stance after future rate reductions as it wants the best use of its capital.
This week, Chevron Shipping Company, in partnership with Wärtsilä, disclosed that it will convert engines on six&nbsp;liquefied natural gas&nbsp;(LNG) carriers from dual-fuel to spark gas operation to cut methane&nbsp;emissions <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40941443/chevron-takes-steps-to-reduce-methane-emissions-from-lng-carriers" rel="noreferrer noopener">and support its carbon reduction goals</a>.
Investors can gain exposure to the Chevron via&nbsp;E.A. Series Trust Strive U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRLL#NYSE">DRLL</a>) and&nbsp;SPDR Select Sector Fund – Energy Select Sector&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>).
Price Action: CVX shares are up 0.13% at $145.18 at the last check Friday.
Photo by Jonathan Weiss on Shutterstock
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Disclaimer: This content was partially produced with the help of A.I. tools and was reviewed and published by Benzinga editors.

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Chevron Prioritizes Gas Sales Over LNG Plant Investment: Report

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Shares of oil and gas companies are trading higher amid a rise in the price of oil after the Fed cut rates, which could lift the demand outlook. Also, ongoing tension in the Middle East could increase supply

U.S. stock futures were lower this morning, with the Nasdaq futures dipping around 1% on Friday.
Shares of Smith &amp; Wesson Brands, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWBI#NASDAQ">SWBI</a>) fell sharply in today's pre-market trading after the company reported worse-than-expected first-quarter <a href="https://www.benzinga.com/quote/SWBI">financial results on Thursday.</a>
Smith &amp; Wesson Brands reported quarterly loss of 5 cents per share which missed the analyst consensus estimate for a loss of 2 cents per share. The company reported quarterly sales of $88.334 million which missed the analyst consensus estimate of $102.525 million.
Smith &amp; Wesson Brands shares dipped 8.7% to $12.96 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>Planet Labs PBC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PL#NYSE">PL</a>) shares fell 9.7% to $2.24 in pre-market trading after the company posted downbeat quarterly sales.</li>
<li>Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) shares dipped 9.4% to $138.51 in pre-market trading. Broadcom reported better-than-expected third-quarter financial results after the closing bell on Thursday. The company said it expects fourth-quarter revenue of approximately $14 billion.</li>
<li>BRP Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOOO#NASDAQ">DOOO</a>) shares fell 5.4% to $62.52 in pre-market trading after the company posted downbeat quarterly sales and lowered FY25 forecast.</li>
<li>Indivior PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INDV#NASDAQ">INDV</a>) fell 5% to $10.54 in pre-market trading.</li>
<li>Bloom Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BE#NYSE">BE</a>) declined 4.9% to $10.49 in pre-market trading.</li>
<li>Polestar Automotive Holding UK PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSNY#NASDAQ">PSNY</a>) fell 4.6% to $1.26 in pre-market trading.</li>
<li>Braze, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRZE#NYSE">BRZE</a>) fell 3.5% to $42.60 in pre-market trading following second-quarter results.</li>
<li>Woodside Energy Group Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WDS#NYSE">WDS</a>) fell 2.3% to $16.32 in pre-market trading. </li>
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Smith & Wesson Brands Reports Downbeat Results, Joins Planet Labs PBC, Broadcom And Other Big Stocks Moving Lower In Friday's Pre-Market Session

Woodside Energy Group Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WDS#NYSE">WDS</a>) shares are trading higher premarket Tuesday after the company reported<a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/b40567230/woodside-releases-half-year-2024-results" rel="noreferrer noopener"> its first-half FY24 results</a>.
Operating revenue fell 19% Y/Y to $5.99 billion. The company delivered half-year production of 89.3 MMboe (-2% Y/Y), with gas production of 60.9 MMboe (-4% Y/Y) and liquids production of 28.4 MMboe (+2% Y/Y).
EBITDA excluding impairment declined 11% Y/Y to $4.37 billion in the first half of FY24.
Underlying net profit after tax declined 14% Y/Y to $1.63 billion, surpassing the Visible Alpha consensus estimate of $1.38 billion (as per Reuters).
Operating cash flow decreased 19% Y/Y to $2.39 billion, and free cash flow was $740 million in H1 FY24.
Woodside increased its standby debt facilities from $6.05 billion to $6.50 billion. Net debt at the end of the period rose 67% Y/Y to $5.39 billion.
Dividend: The directors declared a fully franked interim dividend of $0.69 per share (-14% Y/Y), reflecting about an 80% payout ratio of underlying NPAT.
CEO Meg O&#8217;Neill said, &#8220;We also made good progress on the Scarborough Energy Project in Western Australia, which is more than two-thirds complete and on track for first LNG cargo in 2026. Work on the Scarborough floating production unit passed a major milestone with structural completion of the topsides.&#8221;
Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39879353/tellurian-shares-soar-on-1-2b-woodside-deal-details" rel="noreferrer noopener">Tellurian Shares Soar on $1.2B Woodside Deal: Details</a>
&#8220;We completed the sale of a 10% non-operating participating interest in the Scarborough Joint Venture (SJV) to LJ Scarborough Pty Ltd (LNG Japan) for $910 million and executed a binding sale and purchase agreement for the sale of a further 15.1% non-operating participating interest in the SJV to JERA.&#8221;
This month, the company disclosed a deal to acquire 100% of OCI Global's equity interests in the Clean Ammonia project under construction in Beaumont, Texas, for $2.35&nbsp;billion&nbsp;on a <a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40155180/woodside-expands-clean-energy-footprint-with-2-35b-lower-carbon-ammonia-project-acquisition" rel="noreferrer noopener">cash-free and debt-free basis</a>.
Investors can gain access to the stock via First Trust Natural Gas ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCG#NYSE">FCG</a>).
Price Action: WDS shares are up 2.57% at $18.39 premarket at the last check Tuesday.
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<li><a href="https://www.benzinga.com/markets/equities/24/08/40440534/woodsides-scarborough-project-moves-forward-after-legal-win-details" target="_blank" rel="noreferrer noopener">Woodside&#8217;s Scarborough Project Moves Forward After Legal Win: Details</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

First Trust ISE-Revere Natural Gas Index Fund

Why Is Woodside Energy Stock Trading Higher Tuesday?

Woodside Energy Group H1 Sales $5.99B Down From $7.40B YoY, Underlying Net Profit After Tax Of $1.632B, Down From $1.896B YoY

Chevron Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) shares are trading higher today. The company, through Chevron Australia New Ventures, has been granted a greenhouse gas (GHG) <a href="https://www.benzinga.com/pressreleases/24/08/b40506399/chevron-builds-on-ccs-portfolio-with-greenhouse-gas-assessment-permit-offshore-australia" target="_blank" rel="noreferrer noopener">assessment permit offshore Western Australia</a>.
The permit involves a joint venture with Chevron as the operator, holding a 70% interest, and Woodside Energy Group Ltd &#8211; ADR&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WDS#NYSE">WDS</a>) with a 30% interest.
Chevron will transfer 5% of its stake to GS Caltex (GSC) of Korea, pending regulatory approvals and other conditions.
The G-18-AP permit, located offshore from Onslow, Western Australia, spans about 8,467 km² with depths ranging from approximately 164 feet to 3,281 feet (50 to 1,100 meters).
The area will be used to evaluate a hub for storing third-party emissions, including those from Chevron&#8217;s LNG assets.
This award complements Chevron&#8217;s existing non-operated interests in blocks G-9-AP, G-10-AP, and G-11-AP and adds to its operations at Gorgon CCS, which has now captured and stored 10 million tonnes of CO2 equivalent.
Chris Powers, vice president of CCUS and Emerging for Chevron New Energies, said, &#8220;Chevron, along with our joint venture participants, have a unique set of assets, capabilities and, customer relationships to support the further assessment, development, and deployment of carbon capture and storage (CCS) in Australia,&#8221;&nbsp;
&#8220;Together with the Chevron-operated Gorgon CCS project, one of the world&#8217;s largest integrated facilities, coupled with our existing GHG assessment permits, this new award has potential to expand Chevron&#8217;s portfolio of CCS assets in Australia,&#8221;
Mark Hatfield, managing director of Chevron Australia, said, &#8220;These opportunities have the potential to help us lower the carbon intensity of our own operations as well as provide opportunities to help our customers reduce or offset emissions from their activities.&#8221;
Yesterday, Chevron said it will inject $1 billion&nbsp;into establishing <a href="https://www.benzinga.com/markets/asia/24/08/40478875/energy-giant-chevron-to-plough-1b-into-indias-bengaluru-tech-centre-add-600-jobs" target="_blank" rel="noreferrer noopener">a technology center in Bengaluru, India</a>.
Investors can gain exposure to the stock via EA Series Trust Strive U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRLL#NYSE">DRLL</a>) and SPDR Select Sector Fund &#8211; Energy Select Sector (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>).
Price Action: CVX shares are up 0.45% at $145.01 at the last check Thursday.
Read Next: <a href="https://www.benzinga.com/news/24/08/40509090/august-services-growth-exceeds-expectations-as-manufacturing-slumps-inflation-gradually-eases-to-nor">• August Services Growth Exceeds Expectations As Manufacturing Slumps: Inflation Gradually Eases &#8216;To Normal Levels&#8217;</a>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Global

What's Going On With Chevron Shares Thursday?

Bernstein analyst Neil Beveridge downgrades Woodside Energy Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WDS#NYSE">WDS</a>) from Outperform to Market Perform.

Downgrades

Analyst Ratings

Bernstein Downgrades Woodside Energy Group to Market Perform

Woodside Energy Group Ltd&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WDS#NYSE">WDS</a>) shares are trading higher premarket Monday. The company, along with the Australian Conservation Foundation (ACF), reached an agreement to dismiss the ACF&#8217;s challenge to the primary environmental approval for the <a target="_blank" href="https://www.woodside.com/docs/default-source/asx-announcements/2024/scarborough-primary-approval-challenge-to-be-dismissed.pdf?sfvrsn=5cdd22ef_6" rel="noreferrer noopener">Scarborough</a> Energy Project.
The ACF, represented by the Environmental Defenders Office, commenced Federal Court of Australia proceedings in June 2022 regarding the offshore environmental assessment of the project.
The Scarborough Energy Project, covering the Scarborough Joint Venture and Pluto Train expansions, was 67% complete by June 2024, with LNG production slated for 2026.
The project has secured all primary environmental approvals, and offshore work is advancing as planned.
The Federal Court proceedings aimed to halt these offshore activities, but both parties have agreed to request the court to dismiss the case.
Woodside CEO Meg O&#8217;Neill said, &#8220;The Scarborough reservoir contains less than 0.1% carbon dioxide and combined with processing design efficiencies will be one of the lowest carbon intensity sources of LNG delivered into north Asian markets.&#8221;
&#8220;The Scarborough Energy Project will make an important contribution to energy security in Western Australia while providing energy to Asian economies as they decarbonise.&#8221;
Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39879353/tellurian-shares-soar-on-1-2b-woodside-deal-details" rel="noreferrer noopener">Tellurian Shares Soar on $1.2B Woodside Deal: Details</a>
The Australian Conservation Foundation disclosed that it would no longer pursue its legal case against the Scarborough gas project, acknowledging that the case was &#8220;unlikely to succeed,&#8221; reported Reuters.
The green group added, &#8220;The reality is that Australia&#8217;s laws work in favour of fossil fuel interests. There is still no explicit requirement for climate damage to be considered under our key national nature law, the Environment Protection and Biodiversity Conservation Act.&#8221;
This month, Woodside&nbsp;disclosed a deal to acquire 100% of OCI Global&#8217;s equity interests in the Clean Ammonia project under construction in Beaumont, Texas, for $2.35&nbsp;billion&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40155180/woodside-expands-clean-energy-footprint-with-2-35b-lower-carbon-ammonia-project-acquisition" rel="noreferrer noopener">on a cash-free and debt-free basis</a>.
Price Action: WDS shares are up 1.04% at $17.54 premarket at the last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/07/39733777/woodside-wins-big-secures-decade-long-lng-deal-with-taiwans-cpc" target="_blank" rel="noreferrer noopener">Woodside Wins Big: Secures Decade-Long LNG Deal with Taiwan&#8217;s CPC</a></li>
</ul>

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Woodside's Scarborough Project Moves Forward After Legal Win: Details

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RBC Capital analyst Gordon Ramsay CFA maintained a Buy rating on Woodside Energy Group (WDS – Research Report) yesterday and set a price target of ...

RBC Capital Keeps Their Buy Rating on Woodside Energy Group (WDS)

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