Favourable news prompts two ASX 200 Energy stocks
Woodside and Origin are both on a solid operational trajectory helped by a more favourable energy pricing environment and impressive progress across their respective growth projects.
Woodside Energy Group Limited (ASX: WDS)
Woodside Energy Group Limited on 23 October announced that it has signed and completed a partnership with Williams for the Louisiana LNG project which includes the sale of a 10% interest in Louisiana LNG LLC and an 80% interest along with operatorship of the Driftwood Pipeline for US$378 million.
The transaction reduces Woodside’s capital exposure with total project capex now expected to decline to US$9.9 billion from US$11.8 billion and management reiterated that the project is on track to deliver first LNG in 2029.
The company delivered a solid operational quarter with third quarter production of 50.8 MMboe which represents a 1% increase quarter-on-quarter and was supported by exceptional performance at Sangomar.
Total revenue for the quarter reached US$3.359 billion while the average realised price improved to US$60 per boe which reflects diversified pricing exposure and ongoing portfolio optimisation.
The Scarborough Energy Project is 91% complete and is on track for first LNG in the second half of 2026.
The Beaumont New Ammonia Project is 97% complete with Phase 1 targeting first ammonia production from late 2025 while the Trion Project is 43% complete and is targeting first oil in 2028.
Origin Energy Limited (ASX: ORG)
Origin Energy Limited on 30 December announced the first standalone equity raising for Kraken Technologies with US$1 billion to be raised at a look through valuation of US$8.65 billion which supports Kraken’s formal separation from Octopus Energy that is targeted for mid-2026.
As part of this transaction, Origin will invest US$140 million and will retain a combined direct and indirect economic interest of 22.7% which gives exposure to Kraken’s long-term growth potential.
The company’s September quarter production was stable compared to the previous quarter at 169.9 PJ while Integrated Gas revenue for the quarter came in at $2.124 billion.
Octopus Energy continued to deliver strong growth during the quarter as it added around 560,000 customer accounts including approximately 330,000 customers outside the UK which highlights ongoing international expansion.
Origin is focused on advancing battery storage projects, maintaining reliable gas supply through APLNG and the planned separation and scaling of Kraken Technologies which is expected to drive longer-term growth.
(Source: Company Reports)
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