Woodside Energy: Sanctions big oil project in southern GoM
About the author:
- Author name:
- By Adrian Prendergast
- Job title:
- Senior Analyst
- Date posted:
- 21 June 2023, 7:30 AM
- Sectors Covered:
- Mining, Energy
- Woodside Energy (ASX:WDS) has announced a final investment decision (FID) on its Trion oil project in offshore Mexico, a project acquired through the merger with BHP-P.
- A large high quality oil project with production of 100kbopd (100%), first oil production expected in 2028 and development capex of US$7.2bn (100%).
- The majority of project estimates remain broadly in-line with previous commentary.
- An attractive project on its current fundamentals, further growing WDS’ liquids mix.
- WDS is trading modestly ahead of our Target Price, maintain HOLD rating.
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