Woodside Simplifies Portfolio and Unlocks Long-Term Value
Woodside Energy Group Limited American Depositary Shares, each representing one Ordinary Share (WDS)
Company Research
Source: Business Wire
PERTH, Australia--(BUSINESS WIRE)--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:Streamlines Australian portfolio and consolidates focus on operated LNG assets;Simplifies NWS joint venture ownership, unlocking economic recovery of existing production and future development opportunities; andStrengthens near-term cash flow to support shareholder distributions and ongoing investments.“The strategic and commercial rationale for this asset swap is compelling for Woodside,” said Woodside CEO Meg O’Neill.“This transaction simplifies our portfolio, improving our focus and efficiency by consolidating our position in ou
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