NYSE:PRM 30 October 2025

June 14, 2026, 2:50 PM EDT. Woodside Energy shares dropped 0.92% to A$31.23 on the ASX on June 12, trailing the S&P/ASX 200's 1.98% rise. Woodside aims to buy PetroChina's 10.67% stake in the Browse LNG project, potentially raising its holding to 41.27%. Browse LNG is a major undeveloped gas resource vital for sustaining output at the aging North West Shelf LNG plant in Australia. The deal involves a US$225 million upfront payment and a possible US$175 million contingent payout pending final investment decision by 2032. Market reaction was muted amid concerns over the high capital commitment and project delays. Meanwhile, Exxon Mobil is reportedly considering acquisition options including Woodside, sparking takeover talk. Woodside CEO Liz Westcott described the purchase as a disciplined move aligned with their strategic LNG roadmap.