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No oil on troubled waters

Hard decisions lie ahead for the fat cat executives at Woodside Petroleum. Their cosy world has been turned upside down by a proposed merger/takeover from the Royal Dutch/Shell group.

While the precise terms are yet to be revealed, the end game is for Shell to get at least 50 per cent (and possibly as much as 60 per cent) of Woodside.

So what, you say. Shell already owns 34 per cent of Woodside. A bit extra won’t make a difference.

Wanna bet? At 50.1 per cent the boys (and girls) from Shell will really let Woodside know who’s master. Heads will roll, salaries will fall, jobs will go. Shell has been annoyed for years about the lax performance at a business it already considers a subsidiary.

Little wonder that the senior staff at Woodside are plotting the unthinkable – outright opposition to the merger proposal from a company which already effectively controls them.

It’s Hobson’s choice (no choice at all) for the Woodside team. Capitulate and wait for the axe. Fight and die honourably on your sword.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

BN30 Index

Index = 100 as of 4 Jan 2016
Source: Morningstar

Total Shareholder Return as at 29/06/18

1 year TSR5 year TSR
310thWoodside Petroleum25%6%
722 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

09/05/18
$38k Issued
16/03/18
$0 Other
16/03/18
$3k Issued
Total value as at the date of the transaction
Source: Morningstar

Revenue

th-Woodside Petroleum$5,050.0m
507 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Woodside Petroleum

1stPeter Coleman$7.555m
19thRobert Edwardes$1.668m
43rd​Reinhardt Matisons$1.114m
Ranked by total remuneration from all listed WA companies

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