Woodside Energy Group Ltd (WDS) Q4 2024 Earnings Call Transcript

2025-02-24 23:17:51 ET

Woodside Energy Group Ltd (WDS)

Q4 2024 Earnings Conference Call

February 24, 2025 18:00 ET

Corporate Participants

Meg O'Neill - Chief Executive Officer and Managing Director

Graham Tiver - Executive Vice President and Chief Financial Officer

Conference Call Participants

Gordon Ramsay - RBC

Nik Burns - Jarden Australia

Saul Kavonic - MST

Tom Allen - UBS

Dale Koenders - Barrenjoey

James Byrne - Citi

Rob Coe - Morgan Stanley

Adam Martin - E&P

Henry Meyer - Goldman Sachs

Presentation

Operator

Thank you for standing by and welcome to the Woodside Energy Group Limited Full Year 2024 Results.

All participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session. [Operator Instructions].

I would now like to hand the conference over to Ms. Meg O'Neill, Chief Executive Officer and Managing Director. Thank you, please go ahead.

Meg O ' Neill

Good morning everyone and welcome to Woodside's 2024 full year results presentation. We are presenting from Sydney and I would like to begin by acknowledging the traditional custodians of this land, the Gadigal people of the Eora Nation and pay my respects to their elders past and present.

Today I'm joined on the call by our Chief Financial Officer Graham Tiver. Together we will provide an overview of our full year 2024 performance before opening up to Q&A.

Please take time to read the disclaimers, assumptions and other important information. I'd like to remind you that all dollar figures in today's presentation are in U.S. dollars unless otherwise indicated.

I'm very pleased to present an outstanding set of full year results today. Leveraging our proven track record of operational excellence, disciplined investment decisions and world-class project delivery, we are rewarding our shareholders while laying the foundations for a new chapter of value creation. During 2024 we took significant steps across all three goals underpinning our strategy to thrive through the energy transition, providing energy, creating and returning value to our shareholders and conducting our business sustainably.

Outstanding performance at Sangomar drove record annual production in 2024 of 194 million barrels of oil equivalent at the top end of the full year guidance range. We made excellent progress on our major growth projects at Scarborough and Trion while investing in new opportunities set to deliver decades of growth and value. Our reliable and cost competitive base business has translated into strong financial performance and a fully franked total full year dividend of U.S. 122 cents per share, once again at the top of our payout range....

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