Woodside Petroleum Limited (ASX: WPL) announced its first quarter report to 31 March 2019 earlier this week.
Woodside Petroleum is Australia’s largest independent oil and gas company with a global portfolio. It is an explorer, developer, producer and supplier of energy. The company has been operating for over 60 years and is now Australia’s leading LNG producer. Some of its current development projects are in Senegal (SNE), Myanmar, Canada (Kitimat) and Timor-Leste / Australia (Sunrise).
Here’s What Woodside Reported In The March 2019 Quarter
Woodside said that it delivered sales revenue of $1.22 billion and production of 21.7 Million Barrels of Oil Equivalent (MMboe).
The resources giant commenced gas production from Wheatstone LNG and also secured additional debt funding through the issue of a 10-year $1.5 billion bond.
Woodside CEO Peter Coleman said: “We are pioneering the development of new domestic markets for LNG in Western Australia. Our new truck loading facility at Pluto LNG was completed in March and will supply LNG for us in remote power generation and transport in the Pilbara and beyond.”
Woodside seems to be putting itself in a good position to take advantage of the LNG boom and has a track record of paying a solid dividend from its earnings.
But I prefer to invest in businesses that can set the prices for their products rather than commodity businesses, such as the ASX stocks that are revealed in the below report for free.
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