WPL's Qtrly report comes out in 2 weeks time (18th Oct) & it should reflect the changes as seen in the oil price (average in the mid to high 70's perhaps is my guestimate). Their sales price per barrel over the last 6 qtrs has been good, ie USD57, 51, 53, 63, 69 and 72.
Only issue will be the drop in oil production as FPSO Ngujima-Yin transited to the Keppel Yard in Singapore. However, I think revenue from Wheatstone ramp up should balance this drop in oil production & revenue. Also note that Wheatstone brings along a 3rd revenue stream of Condensate for WPL, which so far has come from Pluto & NWS LNG projects. Should oil prices stay above USD 70/bbl, then Dec qtr should b good for them as well.
