Woodside's LNG Deal Edges Ammonia Play, Bull Says -- Market Talk

Dow Jones10-17

2358 GMT - Morgans is more positive about Woodside's acquisition of LNG project developer Tellurian than its bigger deal for an ammonia plant in Texas. Analyst Adrian Prendergast says the market's doubts about Tellurian's Driftwood LNG project, now renamed Woodside Louisiana LNG, mainly reflect oil-price concerns. That's perplexing, he argues, because Woodside is a top-tier company striking a counter-cyclical deal, rather than one at the top of the energy cycle. "The concerns appear mostly balance sheet related," Morgans says. Yet Woodside has navigated two years of peak capex with an easily manageable amount of debt, the bank says. Also, Woodside has stressed it won't make a final investment decision without line-of-sight on an incoming strategic partner, and it again beat consensus estimates for earnings and cash flow, Morgans says. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

October 16, 2024 19:59 ET (23:59 GMT)

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That's perplexing, he argues, because Woodside is a top-tier company striking a counter-cyclical deal, rather than one at the top of the energy cycle. \"The concerns appear mostly balance sheet related,\" Morgans says. Yet Woodside has navigated two years of peak capex with an easily manageable amount of debt, the bank says. Also, Woodside has stressed it won't make a final investment decision without line-of-sight on an incoming strategic partner, and it again beat consensus estimates for earnings and cash flow, Morgans says. 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Analyst Adrian Prendergast says the market's ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4144","symbol_name":"石油与天然气的储存和运输","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2476900109","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2476900109","pubTimestamp":1729123140,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"2358 GMT - Morgans is more positive about Woodside's acquisition of LNG project developer Tellurian than its bigger deal for an ammonia plant in Texas. Analyst Adrian Prendergast says the market's doubts about Tellurian's Driftwood LNG project, now renamed Woodside Louisiana LNG, mainly reflect oil-price concerns. That's perplexing, he argues, because Woodside is a top-tier company striking a counter-cyclical deal, rather than one at the top of the energy cycle. \"The concerns appear mostly balance sheet related,\" Morgans says. Yet Woodside has navigated two years of peak capex with an easily manageable amount of debt, the bank says. Also, Woodside has stressed it won't make a final investment decision without line-of-sight on an incoming strategic partner, and it again beat consensus estimates for earnings and cash flow, Morgans says. 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