First Impressions on Woodside Petroleum (WPL) - Interim Result

Production was down 9.7% to 42.0 Mmboe, sales vol down 2.% to 43.4mmboe. Vol weighted average realised prices down 29% to US$53/boe. Browse Final investment decision target remains 2H16. Outlook: WPL has maintained production guidance at 86-94mmboe (our 89.3mmboe). Capex guidance of US$2,340m is US$223m above our estimate, due to higher capex at Kitimat vs Citi. Today’s share price reaction: Up 2.1% to $32.73 (10.33 am). Read the full summary here: (VIEW LINK)