Market's Assumptions About Woodside's Burrup Hub Look Too Rosy -- Market Talk

Dow Jones

2024-11-06

2217 GMT - Citi thinks the market could be overestimating the amount of liquefied natural gas that will be produced from Woodside Energy's Burrup Hub. This may be because it is modelling production from gas fields without considering downstream liquefaction capacity. So, there could be "double counting" capacity when Woodside's new Scarborough development comes online, analyst James Byrne says. Another explanation is that the market assumes a significant amount of gas from Woodside's Pluto project is sent to the North West Shelf facility for liquefaction. "We see a risk that consensus is overestimating Pluto production longer term which we estimate could be adding 5% to consensus valuations," Citi says. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

November 05, 2024 17:17 ET (22:17 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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This may be because it is modelling production from gas fields without considering downstream liquefaction capacity. So, there could be \"double counting\" capacity when Woodside's new Scarborough development comes online, analyst James Byrne says. Another explanation is that the market assumes a significant amount of gas from Woodside's Pluto project is sent to the North West Shelf facility for liquefaction. \"We see a risk that consensus is overestimating Pluto production longer term which we estimate could be adding 5% to consensus valuations,\" Citi says. 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This may be because it is modelling production from gas fields without considering downstream liquefaction capacity. So, there could be \"double counting\" capacity when Woodside's new Scarborough development comes online, analyst James Byrne says. Another explanation is that the market assumes a significant amount of gas from Woodside's Pluto project is sent to the North West Shelf facility for liquefaction. \"We see a risk that consensus is overestimating Pluto production longer term which we estimate could be adding 5% to consensus valuations,\" Citi says. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 05, 2024 17:17 ET (22:17 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00B7SZL793.SGD","symbol_name":"Legg Mason Royce - US Small Cap Opportunity A Acc SGD-H","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2481508526","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481508526","pubTimestamp":1730845020,"columns":[],"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":"2217 GMT - Citi thinks the market could be overestimating the amount of liquefied natural gas that will be produced from Woodside Energy's Burrup Hub. This may be because it is modelling production from gas fields without considering downstream liquefaction capacity. So, there could be \"double counting\" capacity when Woodside's new Scarborough development comes online, analyst James Byrne says. Another explanation is that the market assumes a significant amount of gas from Woodside's Pluto project is sent to the North West Shelf facility for liquefaction. \"We see a risk that consensus is overestimating Pluto production longer term which we estimate could be adding 5% to consensus valuations,\" Citi says. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE00B7SZL793.SGD":"Legg Mason Royce - US Small Cap Opportunity A Acc SGD-H","BK4131":"航空货运与物流","BK7142":"石油与天然气的勘探与生产","WDS.AU":"WOODSIDE ENERGY GROUP LTD","IE00B66KJ199.SGD":"LEGG MASON ROYCE US SMALL CAP OPPORTUNITY  \" A\" (SGD) ACC","IE00B19Z4B17.USD":"LEGG MASON ROYCE US SMALL CAP OPPORTUNITY \"A\" (USD) ACC","WDS":"Woodside Energy Group Ltd","BK4213":"石油与天然气的勘探与生产","IE0031619046.USD":"LEGG MASON ROYCE US SMALL CAP OPPORTUNITY \"A\" (USD) INC","HUBG":"枢纽"},"translate_title":"市场对伍德赛德Burrup中心的假设看起来过于乐观——市场谈话","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"HUBG":1,"WDS":0.9,"WDS.AU":0.9},"content_text":"2217 GMT - Citi thinks the market could be overestimating the amount of liquefied natural gas that will be produced from Woodside Energy's Burrup Hub. This may be because it is modelling production from gas fields without considering downstream liquefaction capacity. So, there could be \"double counting\" capacity when Woodside's new Scarborough development comes online, analyst James Byrne says. Another explanation is that the market assumes a significant amount of gas from Woodside's Pluto project is sent to the North West Shelf facility for liquefaction. \"We see a risk that consensus is overestimating Pluto production longer term which we estimate could be adding 5% to consensus valuations,\" Citi says. (david.winning@wsj.com; @dwinningWSJ) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 05, 2024 17:17 ET (22:17 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}