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Woodside Energy Group Ltd (ASX:WDS)

ALERT: Price-sensitive ASX Announcement for WDS
Current share price for WDS : $27.870 -3.65 (-11.58%)+
Announcement
Release
12 Jun 2026 9:38AM
Price at Release
$31.520
Full Release
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Summary
Woodside Energy Group Ltd has announced its decision to exercise its pre-emption right to acquire a 10.67% participating interest in the Browse Joint Venture from PetroChina International Investment (Australia), a subsidiary of CNPC. This strategic move will see Woodside's equity interest increase to 41.27%, enhancing its position in Australia's largest undeveloped conventional gas resource. The transaction involves payment to CNPC of US$225 million, along with a contingent payment of US$175 million upon certain project milestones. Woodside aims to align integrated value in these assets, working towards a development with significant long-term cash flow potential, while continuing to progress the Browse to North West Shelf development. The acquisition is subject to customary conditions, including regulatory approvals.
Key Points
  • Woodside exercises its pre-emption right to acquire CNPC's 10.67% interest in the Browse Joint Venture.
  • The acquisition terms include a payment of US$225 million to CNPC and a contingent payment of US$175 million.
  • Woodside's equity interest in the Browse Joint Venture will increase to 41.27%.
  • The Browse resource is Australia's largest undeveloped conventional gas resource with potential production of 11.4 million tonnes per annum of LNG, LPG, and domestic gas.
  • The acquisition is part of Woodside's strategy to maximize long-term shareholder value and align integrated value for a development with long-term cash flow potential.
  • Woodside plans to work with the Browse Joint Venture to evaluate development opportunities, including technical definition, commercial arrangements, and regulatory approvals.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.