0348 GMT - With Woodside's Sangomar oil-project in Senegal producing at nameplate capacity, UBS assesses what the company's output and free cash flow outlook looks like. UBS forecasts relatively flat production until its newly acquired Woodside Louisiana LNG project is commissioned around 2029. Due to hefty capex requirements for that project, analyst Tom Allen estimates Woodside's free cash flow will be soft until it is operational and the Scarborough natural-gas project in Australia is also online. UBS pegs the inflection point in 2029. "We expect dividend-per-share to weaken over 2025-28, as higher tax and depreciation and amortization weighs on underlying earnings," UBS says. "We continue to expect Woodside to payout 80% of underlying earnings." (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
October 16, 2024 23:48 ET (03:48 GMT)
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