The current 15% in WA isn't always used, not enough demand. Energy prices are lower over there. Woodside us it seems trying to drum up a bigger dom gas market, local LNG trucking for mining, MOU for fertiliser plant etc.
Honestly, the Senegal thing is just noise. Scarborough represents a simular capex / BOE with far lower OPEX.
2H we will be seeing a big improvement in earnings for WPL. LNG trades at a 3 month lag to oil price, and now both Wheatstone trains are up and running. D&A will exceed capex so we'll also be looking at pretty significant cash build through 2H too.
WPL Price at posting:
$36.91 Sentiment: Buy Disclosure: Held