Shares close at 2 monthlow
Expects total impairment charge of 1.5 bln in FY23
Flags impairment charge for both Shenzi and Wheatstone projects

Feb 15 Reuters Woodside Energy, Australia39;s largest energy firm, flagged a noncash post taxasset impairment of around 1.2 billion from its Shenzi oil and gas field in its 2023 fiscal earnings, sending its shares down to close at a twomonth low on Thursday.

Woodside had acquired the Shenzi deepwater oil and gas fields in the Gulf of Mexico off the coast of Louisiana as part of its merger with the petroleum assets of BHP Group in 2021.

Shenzi represented around 5 of 2023 production for Woodside.

Woodside, which recently shelved plans for a 52 billion oil behemoth tieup with smaller rival Santos, said it also expects a noncash posttax impairment of 300 million for the Wheatstone project in Western Australia that is operated by Chevron.

The oil and gas firm is set to record around 1.5 billion of total asset impairments for 2023.

Shares of the company closed down 3 at A30.24 to hit their lowest since Dec. 14.

The company also flagged a reduction in reserves at the Shenzi assets, which offset improved performance at its North West Shelf and Pluto LNG projects.

The reduction in reserves at Shenzi are mainly associated with the performance of infill sidetracks and performance of the Shenzi North development following start up, Woodside said in a statement.

Henry Jennings, senior market analyst at Marcus Today, said the fall…