1Q18 revenue for WPL was slightly softer than expected at US$1.169 billion.
Expansion of the WA-based LNG operations will provide longer-term growth, especially given the strength of fundamentals supporting LNG.
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Post the acquisition of Exxon’s interest in Scarborough, WPL now holds a 75% stake with partner BHP holding 25%. We expect BHP to be a natural seller of its remaining interest.
Woodside Petroleum
