Woodside Asset Swap Sensible, Good for Cash Flow -- Market Talk

Dow Jones12-20 12:34

0434 GMT - Macquarie views Woodside Energy's asset swap with Chevron favorably, the Australian bank says in a client note. "It appears to have been agreed on fair terms" and "incrementally simplifies Woodside's business by exiting a non-operated asset," important given Woodside's expanded work in the Americas with Louisiana LNG, Beaumont ammonia and Trion oil, Macquarie says. It also "should incrementally ease balance sheet pressure during this multiyear cycle of elevated capex." Woodside is up 1.2% at A$23.38. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

 

(END) Dow Jones Newswires

December 19, 2024 23:34 ET (04:34 GMT)

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