What's Going On With Woodside Energy Shares Premarket Tuesday?
Portfolio Pulse from Lekha Gupta
Woodside Energy Group Ltd (NYSE:WDS) shares are trading lower premarket after announcing the first oil from the Sangomar field offshore Senegal. The project, developed by a joint venture including Woodside and PETROSEN, features a standalone FPSO facility and subsea infrastructure. The project cost remains within the $4.9 billion – $5.2 billion range, with production ramping up through 2024.
June 11, 2024 | 10:45 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Woodside Energy Group Ltd (NYSE:WDS) shares are down 1.97% premarket after announcing the first oil from the Sangomar field offshore Senegal. The project is within budget and will ramp up production through 2024.
Despite the positive milestone of achieving first oil, the stock is trading lower premarket. This could be due to market expectations or other external factors. The project remains within budget and is expected to ramp up production, which is positive for long-term shareholder value.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100