Business Sectors
Events
Offshore Wind Webinar Week
22 Sep 2025
BST - ONLINEContents
Register to read more articles.
Woodside completes merger with BHP Petroleum
Woodside Energy has completed its merger with BHP’s petroleum arm formally creating one of the world’s 10 biggest energy companies with assets spanning Australia, North America and the Caribbean and West Africa
A new executive team is expected to lead the merged entity, which becomes the largest energy company currently listed on the Australian Securities Exchange (ASX).
Woodside chief executive Meg O’Neill called the merger one of the most significant events in the company’s 67-year history, saying it marked the start of a new chapter for the company.
“Today, Woodside begins its journey as a global company, becoming a bigger supplier of the energy the world needs right now and will continue to demand in the future. The merger delivers a diverse portfolio of quality operating assets, plus a suite of growth opportunities across oil, gas and new energy that promises ongoing value for our shareholders.”
“We are focused on unlocking pretax annual synergies of more than US$400M as we merge the two businesses. It is exciting to welcome the BHP Petroleum team to Woodside Energy and start delivering on our shared vision for the future,” she said.
Woodside has acquired the entire share capital of BHP Petroleum and issued 914,768,948 new Woodside shares to BHP shareholders. Woodside will now receive approximately US$1Bn in net cash, which includes the cash remaining in the BHP Petroleum bank accounts immediately prior to completion.
This reflects US$1.8Bn of net cash flows generated by BHP Petroleum between the effective date of 1 July 2021 and completion, less US$0.8Bn representing BHP’s entitlement to cash dividends paid by Woodside over the same period.
New Woodside shares commenced trading on the ASX from 2 June 2022. Further, Woodside Energy will begin listing shares in the form of American Depositary Shares on the New York Stock Exchange under the ticker “WDS” from 2 June.
Trading of shares on the London Stock Exchange is expected to commence 6 June 2022.
The company has approved plans to develop the US$12Bn Scarborough gas field – the biggest to be built in Australia in a decade. In April Woodside Energy awarded a firm 350-day contract to ASX-listed MMA Offshore to support offshore field development drilling for the Scarborough Project.
The Offshore Support Journal Conference will be held 15 June 2022. Details and tickets can be found here
Related to this Story
Events
Offshore Wind Webinar Week
22 Sep 2025BST - ONLINE
Maritime Decarbonisation, Europe: Conference, Awards & Exhibition 2025
30 Sep 2025Amsterdam
Offshore Support Journal Conference, Americas 2025
07 Oct 2025Rio de Janeiro
© 2024 Riviera Maritime Media Ltd.
