Sydney, Jan 20, 2026, 17:39 AEDT — Market closed
- Woodside shares dropped 1.1% by the close, wiping out a modest rise from the previous day
- Contractor Wood secured a two-year extension linked to upgrade work on Woodside’s North West Shelf assets
- Attention turns to Woodside’s quarterly report on Jan. 28 for updates on projects and production
Woodside Energy Group Ltd (WDS.AX) slipped Tuesday following an announcement from engineering firm Wood, which revealed it had won a contract extension for upgrades at Woodside’s North West Shelf gas and LNG operations.
Woodside shares slipped 1.05% to close at A$23.50, reversing a 0.30% gain from Monday. The ASX 200 dropped 0.66%. U.S. crude futures dipped roughly 0.4%. (Investing.com Australia)
This move is significant as investors gear up for Woodside’s upcoming disclosures next week, following a turbulent start to January for energy stocks that remain tied to commodity price swings.
This shift also refocuses attention on Woodside’s aging cash cows, which need to keep pumping while the company pours capital into major growth ventures.
Wood announced a two-year extension valued at up to $65 million ($100 million) for brownfield work on the North West Shelf (NWS) Project. The deal covers engineering, procurement, and construction management (EPCM) — essentially the detailed design, equipment sourcing, and project oversight. (Wood)
John Mtanios, Wood’s president for Asia Pacific, described the extension as a testament to the “strength of our 35-year relationship with Woodside.” He added the focus will be on “finding smarter ways to improve productivity, reduce costs and optimise performance.” (Wood)
Woodside has set Jan. 28 for its fourth-quarter report, followed by the annual report on Feb. 24. Investors eager for updates on project timelines, production figures, and spending forecasts will be watching these key dates closely. (Woodside)
The immediate danger is that broad macro shifts will overshadow company-specific headlines. A further drop in crude prices or a new jolt to global growth forecasts could swiftly sour sentiment on LNG and oil producers, regardless of how tame their latest updates appear.
Traders are watching energy prices closely, but they’ll also be focused on Jan. 28, when Woodside releases its fourth-quarter results and updates the market on its 2026 priorities. (Woodside)
