Woodside seeks acquisition candidates

Australia's Woodside Petroleum Ltd. is seeking new oil projects to stem an approaching production decline.The firm has created a takeover department to assess acquisition opportunities.This aggressive ploy was revealed as Woodside reported a $331.3 million (Aus.) profit for 1999-10.4% higher than in 1998. Managing Director John Akehurst said the company had taken advantage of higher oil prices to hedge 57% of this year's production at a minimum of $17.36 (US)/bbl and 45% of 2001 oil production at a minimum of $17.56/bbl, leaving room to sell at higher prices.Woodside is considering a second phase of drilling in its Laminaria-Corallina fields complex in the Timor Sea to extend the ...

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.


Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected