Woodside Extends Pluto Maintenance but to Limited Consequence. No Change to our AUD 46.50 FVE.
Following planned maintenance, Woodside has found it necessary to extend the targeted restart for its Pluto LNG plant to the end of June due to issues with a compressor. Group 2019 production is now expected to be at the lower end of the 88 to 94 million barrels of oil equivalent, or mmboe, guidance range. We lower our 2019 production target to 89mmboe from 92mmboe, and reduce our 2019 EPS forecast to AUD 2.51 from AUD 2.59. We see the impact as limited in nature only, and our AUD 46.50 fair val...Woodside Petroleum is engaged in hydrocarbon exploration, evaluation, development, production and marketing. Co.'s operating segments include: North West Shelf Project, which is engaged in the exploration, evaluation, development, production and sale of liquefied natural gas, pipeline natural gas, condensate, liquefied petroleum gas and crude oil from the North West Shelf ventures; Pluto LNG, which is engaged in the exploration, evaluation, development, production and sale of liquefied natural gas and condensate in assigned permit areas; Australia Oil; Browse FLNG; and Wheatstone LNG. As of Dec 31 2015, Co. had proved reserves of 1.15 billion barrels of oil equivalent.
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