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Highlights
- The share price of Woodside Energy was quoted lower today (25 November 2022).
- However, the shares have gained more than 6% in the last one month and have moved up almost 29% in the last six months.
- The company has marked a record revenue of US$5,858 million in its September quarter, up 70% compared to 2022 second quarter.
Australia-based petroleum exploration and production giant Woodside Energy Group Ltd (ASX:WDS) was trading weak on the ASX today (25 November 2022).
The company announced on 24 November that it would invest up to AU$65 million over the upcoming five years to support community development in regional Western Australia. Also, on 23 November, WDS announced an AU$50 million commitment to the Resources Community Investment Initiative.
Meanwhile, the shares of Woodside Energy have gained 6.43% in the last one month of trading on the ASX. The shares have moved up 28.68% in the last six months and have gained 64.98% in the previous one year of trading on the ASX. On a year-to-date basis, WDS has appreciated its value by 65.64% on the ASX (as of 11:59 AM AEDT, 25 November 2022).
Why is WDS in the news lately?
- Lending support to the regional communities, on 24 November 2022, Woodside Energy announced that it will invest up to AU$65 million in a duration of five years to enhance community development in regional areas of Western Australia.
- Woodside CEO Meg O’Neil stated that the contribution would feature new opportunities along with advancing current partnerships in Karratha, Roebourne, Exmouth and Onslow communities.
- On 23 November 2022, the company announced an AU$50 million commitment to the Resources Community Investment Initiative. Premier Mark McGowan announced the initiative on the same day.
- In 2023, Woodside claimed, its community partnerships will focus on areas of need, with education, youth, local business and NGOs, infrastructure, health, and housing being the key areas.
- On 20 October 2022, the company shared its third quarter report for the period ended 30 September 2022. During the period, WDS delivered a record production, up 52% from Q2 2022. The sales volume went up 59%; revenue surged 70% from Q2 2022. The company achieved a portfolio average realised price of US$102 per barrel of oil equivalent and sold 24% of produced LNG at prices linked to gas hub indices. WDS also upgraded full-year 2022 production guidance to 153 – 157 MMboe.
