This morning, Woodside Petroleum Limited (ASX: WPL) revealed its financial results for the full year to 31 December 2017.
Woodside Petroleum is an Australian-listed global oil and gas company.
The results below are comparing against the full year to 31 December 2016. Here are some of the main points:
- Operating revenue was down 4% to $3.9 billion
- Day to day trading, or EBITDA, increased by 4.4% (What the heck is EBITDA?)
- Profit increased by 18% to $1.02 billion
- ‘Free cash flow’ increased by 630% to $832 million
- Full year dividend increased by 18% to 98 cents per share
Woodside also announced that it has entered into a binding sale and purchase agreement to purchase ExxonMobil’s share of the Scarborough gas field located in the Carnarvon Basin, offshore Western Australia.
The resources company also announced this morning this it is launching a $2.5 billion equity raising to fund the Scarborough purchase.
Woodside CEO Peter Coleman said the equity raising was an important part of Woodside’s strategy to deliver value-creating opportunities for shareholders.
The Woodside share price hasn’t moved because it’s in a trading halt.
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