Woodside Energy Group Ltd
ACN 004 898 962
Mia Yellagonga
11 Mount Street
Perth WA 6000
Australia
T +61 8 9348 4000
www.woodside.com
ASX: WDS
NYSE: WDS
LSE: WDS
Announcement
Wednesday, 9 October 2024
WOODSIDE COMPLETES ACQUISITION OF TELLURIAN
Woodside has completed the acquisition of
Tellurian Inc. (Tellurian) and its US Gulf Coast Driftwood LNG
development opportunity. Woodside has acquired all issued and
outstanding Tellurian common stock for approximately $900 million
cash, or $1.00 per share. The implied enterprise value is
approximately $1,200 million.[1]
Woodside is pleased to also announce it has
renamed the Driftwood LNG development opportunity Woodside
Louisiana LNG.
Woodside Louisiana LNG is an
under-construction, pre-final investment decision (FID), LNG
production and export terminal in Calcasieu Parish, Louisiana. It
is a high-quality, scalable development opportunity, with a total
permitted capacity of 27.6 million tonnes per annum.
Woodside CEO Meg O'Neill said bringing Woodside
Louisiana LNG into the global portfolio represented a significant
new chapter for the company.
"This is a major growth opportunity that
significantly expands our US LNG position, enabling us to better
serve global customers and capture further marketing optimisation
opportunities across both the Atlantic and Pacific
Basins.
"Our acquisition provides a new strategic
direction for this development. Woodside's world class expertise in
project execution, operations and marketing means we are
well-positioned to unlock the development and generate
value.
"Woodside Louisiana LNG is a competitively
advantaged opportunity. It is fully permitted, front-end
engineering design is complete, and site civil works are well
advanced.
"Woodside is targeting FID readiness from the
first quarter of 2025, with the experienced Tellurian team and
engineering, procurement and construction contractor Bechtel having
completed substantial work to advance the opportunity to this
stage.
"We are also pleased with the inbounds received
from multiple parties looking to enter the opportunity as a
strategic partner."
This announcement was approved and authorised for release by
Woodside's Disclosure Committee.
Forward-looking statements
This announcement contains
forward-looking statements with respect to Woodside's business and
operations, market conditions, results of operations and financial
condition, including, for example, but not limited to, statements
regarding the transaction, the timing of completion of other
transactions, the timing of completion of Woodside's projects and
expectations regarding future expenditures and future results of
projects. All statements, other than statements of historical or
present facts, are forward-looking statements and generally may be
identified by the use of forward-looking words such as 'guidance',
'foresee', 'likely', 'potential', 'anticipate', 'believe', 'aim',
'aspire', 'estimate', 'expect', 'intend', 'may', 'target', 'plan',
'forecast', 'outlook', 'project', 'schedule', 'will', 'should',
'seek' and other similar words or expressions. Similarly,
statements that describe the objectives, plans, goals or
expectations of Woodside are forward-looking statements.
Forward-looking statements in this
announcement are not guidance, forecasts, guarantees or predictions
of future events or performance, but are in
the nature of future expectations that are based on management's
current expectations and assumptions. Those
statements and any assumptions on which they are based are subject
to change without notice and are subject to inherent known and
unknown risks, uncertainties, assumptions and other factors, many
of which are beyond the control of Woodside, its related bodies
corporate and their respective officers, directors, employees,
advisers or representatives. If any of the assumptions on which a
forward-looking statement is based were to change or be found to be
incorrect, this would likely cause outcomes to differ from the
statements made in this announcement.
A detailed summary of the key risks
relating to Woodside and its business can be found in the "Risk"
section of Woodside's most recent Annual Report released to the
Australian Securities Exchange and the London Stock Exchange and in
Woodside's most recent Annual Report on Form 20-F filed with the
United States Securities and Exchange Commission and available on
the Woodside website at https://www.woodside.com/investors/reports-investor-briefings.
You should review and have regard to these risks when considering
the information contained in this announcement.
All information included in this
announcement, including any forward-looking statements,
reflects Woodside's views held as at the
date of this announcement and, except as required by law or
regulation, neither Woodside, its related bodies
corporate, nor any of their respective officers, directors,
employees, advisers or representatives intends to,
undertakes to, or assumes any obligation to, provide any additional
information or update or revise any information or forward-looking
statements in this announcement after the date of this
announcement, either to make them conform to actual results or as a
result of new information, future events, changes in Woodside's
expectations or otherwise.
Investors are strongly cautioned not
to place undue reliance on any forward-looking statements. Actual
results or performance may vary materially from those expressed in,
or implied by, any forward-looking statements.