Woodside Petroleum Display Signs of Further Growth

Australia’s largest independent gas and oil company, Woodside Petroleum Ltd [ASX:WPL] share price grew 1.11% this morning.

The last few months Woodside’s share price has been inconsistent. Back in January they were trading at around $34 a share and started to fall down since, with the price only slowly starting to come back in March.

They are now trading at $30.11 a share.

Woodside’s performance

Woodside’s 2017 annual report displayed trends of positivity in regard to the company’s performance and growth with an 18% increase in profit, as well as a full-year dividend growing from 2016 figures.

Their Horizon projects have also progressed throughout the year, unlocking value and cash generation across the projects.

2018 business priorities

Woodside aim to deliver production growth across their projects in a consistent manner.

Their base business has managed to turnover a strong performance and better market conditions.

They are continuing to fund their investments to cater their overall strategy and vision.

Exploration is one of their most prominent investments, having wells drilled and invested $295 million in Australia, Myanmar, Senegal and Gabon last year.


Ryan Clarkson-Ledward,
For Money Morning

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Ryan Clarkson-Ledward is an Editor at Money Morning.

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