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Woodside buys in Gulf of Mexico

WOODSIDE Energy USA, a wholly owned subsidiary of Woodside Petroleum, has expanded its offshore interests in the Gulf of Mexico by acquiring Gryphon Exploration Company. Woodside paid $US282.7 million for the explorer, which is focused on the upstream oil and gas with extensive exploration and production interests in the gulf. While the acquisition will immediately create earnings for Woodside, but with the addition of Gryphon’s debt the total cost of the transaction is $US296.9 million, Woodside said. Gryphon has interests in 118 leases in the Gulf, 95 of which are operated by the company. The majority of the leases are on the continental shelf and 15 of these will deliver immediate production to Woodside. Indepen-dent petroleum consultant Ryder Scott has estimated Gryphon’s proved reserves as of June 30 to be 72.5 billion cubic feet of gas equivalent.Woodside said it had hedged gas production from Gryphon, which represent 50 per cent of expected production to the end of 2008 and underpin about half of the acquisition cost.

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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 31/08/18

1 year TSR5 year TSR
216thWoodside Petroleum35%5%
259thSouth3226%0%
363rdMineral Resources6%12%
397thIluka Resources1%-1%
612thFortescue Metals Group-29%3%
737 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

31/08/18
$22k Bought
31/08/18
$23k Bought
31/08/18
$20k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

1st↑South32$10,519.6m
2nd↓Fortescue Metals Group$9,358.7m
3rd-Woodside Petroleum$5,050.0m
4th-Mineral Resources$1,706.7m
5th↑Iluka Resources$1,079.2m
507 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Woodside Petroleum

1stPeter Coleman$7.555m
18thRobert Edwardes$1.668m
39th​Reinhardt Matisons$1.114m
Ranked by total remuneration from all listed WA companies

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