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Australian E&Ps in 2018: The year of living profitably
Woodside Petroleum and Santos Ltd., long viewed as Australia’s most prolific domestic E&Ps both onshore and off, were joined last year by Beach Energy, which is now the largest Aussie onshore producer. All three came up jet black in their recent earnings reports—Woodside’s best since 2014, a reversal of years of misfortune for Santos and a half-year for Beach that was, for lack of a better metaphor, a day at the beach. Woodside earned $1.36 billion in 2018, up 28%......
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