Ultime notizie per Woodside Energy Group (NYSE:WDS) Azioni

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

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

News

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
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/09/40920735/chevron-slams-bidens-lng-export-pause-touts-natural-gas-for-ai-growth-report" target="_blank" rel="noreferrer noopener">Chevron Slams Biden&#8217;s LNG Export Pause, Touts Natural Gas For A.I. Growth: Report</a></li>
</ul>
Disclaimer: This content was partially produced with the help of A.I. tools and was reviewed and published by Benzinga editors.

Equities

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DRLL

Chevron Prioritizes Gas Sales Over LNG Plant Investment: Report

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KLXE

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>
</ul>
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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.
Read Next:
<ul>
<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>
</ul>
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:
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<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>

Legal

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

<ul>
<li>World's first ammonia plant paired with auto thermal reforming with 95%+ CO2 capture</li>
<li>Provides early-mover advantage in growing lower carbon ammonia market1</li>
<li>Exceeds capital allocation target of 10% internal rate of return2</li>
<li>Free cash flow accretive from 2026 and earnings per share accretive from 2027</li>
<li>Capacity to abate 3.2 Mtpa CO2-e at full development; over 60% of Woodside's Scope 3 abatement target3</li>
</ul>
Woodside has entered into a binding agreement to acquire 100% of OCI Clean Ammonia Holding B.V., and its lower carbon ammonia project in Beaumont, Texas (Project) for an all-cash consideration of approximately $2,350 million. The Project is under construction and targets production of first ammonia from 2025 and lower carbon ammonia from 2026. The consideration is inclusive of capital expenditure through completion of the first phase (Phase 1).
Woodside CEO Meg O'Neill said the acquisition supports Woodside's strategy to thrive through the energy transition.

Woodside Acquires OCI'S Clean Ammonia Project For An All-Cash Consideration Of $2.35B

Woodside Energy Group Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WDS#NYSE">WDS</a>) 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 <a target="_blank" href="https://www.woodside.com/docs/default-source/lse-announcements/woodside-to-acquire-oci's-clean-ammonia-project---rns-submit.pdf?sfvrsn=ec842cfc_1" rel="noreferrer noopener">billion</a> on a cash-free and debt-free basis.
The purchase price will be <a target="_blank" href="https://oci-global.com/news-stories/press-releases/oci-global-announces-agreement-for-the-sale-of-its-clean-ammonia-project-in-beaumont-texas-to-woodside-energy/" rel="noreferrer noopener">split</a>, with 80% paid at closing and the remaining 20% settled upon project completion, defined as when the plant meets the agreed-upon terms and conditions.
Situated in Beaumont, Texas on the U.S. Gulf Coast, the project will cater to both domestic and international markets.
Phase 1, under construction, has a design capacity of 1.1 Mtpa, with initial ammonia production from natural gas expected in 2025.
Lower-carbon ammonia, produced using natural gas and carbon sequestration, is planned for 2026 after CCS operations begin.
The facility is designed to support a second 1.1 Mtpa production train (Phase 2), which is still in the pre-final investment decision (FID) stage.
Woodside aims to achieve FID readiness for Phase 2 by 2026, with anticipated capital expenditures between $1.2 and $1.4 billion.
Returns &amp; Synergies: Phase 1 is projected to surpass Woodside&#8217;s 10% internal rate of return (IRR) target for new energy projects, including acquisition and construction costs, and to achieve payback in under 10 years.
Phase 2 is expected to deliver even better returns by utilizing shared infrastructure. The deal is projected to be accretive to free cash flow starting in 2026 and to earnings per share from 2027.
The transaction is anticipated to close in the second half of 2024, pending the fulfillment of standard closing conditions and OCI shareholder approval.
Woodside CEO Meg O&#8217;Neill said, &#8220;This transaction positions Woodside in the growing lower carbon ammonia market. The potential applications for lower carbon ammonia are in power generation, marine fuels and as an industrial feedstock, as it displaces higher-emitting fuels.&#8221;
&#8220;Global ammonia demand is forecast to double by 2050, with lower caWoodside Expands Clean Energy Footprint with $2.35B Ammonia Acquisitionrbon ammonia making up nearly two-thirds of total demand.&#8221;
&#8220;This acquisition is a material step towards delivering our Scope 3 investment and abatement targets. Phase 1 has the capacity to abate 1.6 Mtpa of CO2 -e and with the addition of Phase 2 the project has the capacity to abate 3.2 Mtpa CO2 -e, or over 60 percent of our Scope 3 abatement target.&#8221;
Also 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>
Price Action: WDS shares are down 3.90% at $16.74 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:
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<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>

TELL

Woodside Expands Clean Energy Footprint with $2.35B Lower Carbon Ammonia Project Acquisition

ACDC

AESI

ARCH

BORR

CHRD

CLMT

CTRA

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SDRL

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WFRD

WTTR

Shares of oil and gas stocks are trading lower despite Middle East tensions. Weak US economic data may be weighing on demand outlook.

U.S. stock futures were mixed this morning, with the Dow futures gaining around 20 points on Tuesday.
Shares of NXP Semiconductors N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>) fell sharply in today's pre-market trading following <a href="https://www.benzinga.com/news/earnings/24/07/39894602/nxp-semiconductors-q2-earnings-revenue-beat-eps-miss-nxp-has-successfully-navigated-the-cyclical-tr">mixed second-quarter earnings.</a>
NXP said second-quarter revenue decreased 5% year-over-year to $3.127 billion, beating analyst estimates of $3.125 billion. The company reported adjusted earnings of $3.20 per share, narrowly missing estimates of $3.21 per share, per <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a>
NXP said it expects third-quarter revenue to be in the range of $3.15 billion to $3.35 billion versus estimates of $3.35 billion. The company sees third-quarter adjusted earnings in the range of $3.21 to $3.63 per share versus estimates of $3.56 per share.
NXP Semiconductors shares dipped 9.1% to $258.03 in the pre-market trading session.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>Medpace Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEDP#NASDAQ">MEDP</a>) shares declined 12.6% to $382.00 in pre-market trading after the company reported mixed second-quarter financial results and narrowed its FY24 revenue guidance with its midpoint below estimates.</li>
<li>Oatly Group AB (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OTLY#NASDAQ">OTLY</a>) shares fell 8.1% to $1.02 in pre-market trading following a 5% decline on Monday.</li>
<li>Archrock, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AROC#NYSE">AROC</a>) shares declined 7.9% to $21.50 in pre-market trading. Archrock commenced public offering of 11 million shares of its common stock and announced plans to acquire Total Operations and Production Services for $983 million in cash and stock.</li>
<li>Serve Robotics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SERV#NASDAQ">SERV</a>) shares fell 6.3% to $8.22 in pre-market trading. Serve Robotics shares jumped around 16% on Monday after Nvidia last week disclosed a stake in the company.</li>
<li>Woodside Energy Group Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WDS#NYSE">WDS</a>) shares fell 4.3% to $18.34 in pre-market trading. Tellurian inked an acquisition deal with Australia's Woodside Energy Group Ltd for an implied enterprise value of $1.2 billion, including net debt.</li>
<li>Under Armour, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UAA#NYSE">UAA</a>) shares declined 3.6% to $6.45 in pre-market trading.</li>
<li>STMicroelectronics N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>) fell 3.2% to $40.66 in pre-market trading after gaining 5% on Monday.</li>
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AROC

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NXP Semiconductors Posts Mixed Q2 Results, Joins Medpace And Other Big Stocks Moving Lower In Tuesday Pre-Market Session

Tellurian Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TELL#NYSE">TELL</a>) shares are trading higher after the company inked an acquisition deal with Australia&#8217;s Woodside Energy Group Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WDS#NYSE">WDS</a>) for an implied <a target="_blank" href="https://www.benzinga.com//node/39874654" rel="noreferrer noopener">enterprise value of $1.2 billion, including net debt.</a>
The deal consideration includes a $900 million all-cash payment or $1.00 per Tellurian share.
The acquisition price represents a&nbsp;75%&nbsp;premium to Tellurian&#8217;s closing price on July 19, 2024, and a&nbsp;48%&nbsp;premium to Tellurian&#8217;s 30-day <a target="_blank" href="https://www.benzinga.com//node/39874555" rel="noreferrer noopener">volume weighted average price.</a>
The deal, which includes Tellurian&#8217;s owned and operated U.S. Gulf Coast Driftwood LNG development opportunity, offers access to an asset with over $1 billion already invested.
To facilitate its acquisition of Tellurian, Woodside will offer a $230 million loan to support Driftwood LNG operations until the transaction closes.
The loan is secured by Tellurian&#8217;s assets and matures on December 15, 2024, or upon deal completion.
Tellurian&#8217;s Board has approved the deal and recommended it to shareholders, with the transaction expected to close in the&nbsp;fourth quarter&nbsp;of the 2024 calendar year.
Woodside CEO Meg O&#8217;Neill stated, &#8220;It adds a scalable US LNG development opportunity to our existing approximately 10 Mtpa of equity LNG in Australia. Having a complementary US position would allow us to better serve customers globally and capture further marketing optimisation opportunities across both the Atlantic and Pacific Basins.&#8221;
&#8220;The Driftwood LNG development opportunity is competitively advantaged. Woodside expects to leverage its global LNG expertise to unlock this fully permitted development and expand our relationship with Bechtel which is the EPC contractor for both Driftwood LNG and our Pluto Train 2 project in Australia.&#8221;
This month, Woodside signed a long-term SPA with CPC Corporation to supply 6 million tonnes of <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39733777/woodside-wins-big-secures-decade-long-lng-deal-with-taiwans-cpc" rel="noreferrer noopener">LNG to Taiwan over ten years</a>.
Price Action: TELL shares are up 65.50% at $0.9450 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.
Image via Shutterstock
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Mid Cap

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Tellurian Shares Soar on $1.2B Woodside Deal: Details

<ul>
<li>Creates a global LNG powerhouse</li>
<li>Attractive entry into scalable, fully permitted 27.6 million tonnes per annum (Mtpa) US LNG development option</li>
<li>Significant cash generation potential to underpin long-term shareholder returns</li>
</ul>

Reported Sunday, Woodside Energy To Acquire Tellurian For $900M In All-Cash Deal, Offering 75% Premium Over July 19 Closing Price

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Woodside Energy Group: Strong Performance Outweighed by Contract Risks and Valuation Concerns, Hold Rating Maintained

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Woodside Energy Group: Hold Rating Reflects Strong Performance but Limited Upside Amid Market Challenges

Woodside Energy Group reports Q3 revenue and production data

Woodside Energy hikes production outlook after record Q3; to delist London shares

UBS analyst Tom Allen maintained a Hold rating on Woodside Energy Group (WDS – Research Report) today and set a price target of A$28.30. The compan...

UBS Sticks to Its Hold Rating for Woodside Energy Group (WDS)

Morgans analyst Adrian Prendergast maintained a Buy rating on Woodside Energy Group (WDS – Research Report) today and set a price target of A$33.00...

Morgans Reaffirms Their Buy Rating on Woodside Energy Group (WDS)

In a report released yesterday, Gordon Ramsay CFA from RBC Capital maintained a Buy rating on Woodside Energy Group (WDS – Research Report), with a...

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

Morgans Sticks to Their Buy Rating for Woodside Energy Group (WDS)

Woodside Energy, Tokyo Gas in talks over stake in Louisiana LNG project

TKGSF

TKGSY

Press Releases

Woodside Achieves First Oil at Sangomar in Senegal

Woodside to Acquire Tellurian and Driftwood LNG

Woodside to Acquire OCI'S Clean Ammonia Project

Woodside Releases Half-Year 2024 Results

Woodside Energy US Investor Event Presentation

Woodside Completes OCI Clean Ammonia Acquisition

Woodside Completes Acquisition of Tellurian

Tellurian Inc. Announces Intention to Delist and Redeem 8.25% Senior Notes Due 2028

Woodside to Delist From the London Stock Exchange

Woodside Releases Quarter Three 2024 Results

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