10 Best Australian Stocks to Buy Now

4. Woodside Energy Group Ltd (NYSE:WDS)

Number of Hedge Fund Holdings: 8

Woodside Energy Group Ltd (NYSE:WDS), formerly known as Woodside Petroleum Ltd, is a leading energy company headquartered in Perth, Australia, with operations spanning the Asia Pacific, Africa, the Americas, and Europe. The company specializes in the exploration, development, production, and marketing of hydrocarbons, including liquefied natural gas (LNG), pipeline gas, crude oil, condensate, and natural gas liquids. Woodside Energy Group Ltd (NYSE:WDS) holds significant interests in major projects such as Pluto LNG, North West Shelf, Wheatstone, and Scarborough, among others.

Woodside Energy Group Ltd’s (NYSE:WDS) growth strategy has seen a significant milestone with the Louisiana LNG project, a major liquefied natural gas export facility located on the U.S. Gulf Coast. Following a $1.2 billion acquisition of Tellurian, Woodside Energy Group Ltd (NYSE:WDS) now holds full ownership of this project, which boasts a potential production capacity of 27.6 million metric tons per year (MTPA). Woodside Energy Group Ltd (NYSE:WDS) is now targeting a final investment decision (FID) for the Louisiana LNG project by the end of Q1 2025. If approved, construction is slated to begin soon after, with production expected to commence in 2028.

To progress the project, Woodside Energy Group Ltd (NYSE:WDS) has entered into a revised engineering, procurement, and construction (EPC) contract with Bechtel, a globally renowned engineering firm. The contract focuses on the foundational development of the project’s three production trains, with an estimated forward cost ranging from $900 to $960 per ton of LNG.