SYDNEY, March 21, 2026, 10:53 AEDT
Woodside Energy Group shares on the ASX wrapped up Friday just shy of their 52-week peak, last trading at A$34.04 after climbing as high as A$34.31 earlier in the session. The stock was testing the upper end of its 52-week range following a turbulent week for energy.
Woodside’s surge—up roughly 42% this year—puts the company among the ASX’s top-performing large-cap energy stocks, with the jump arriving as rising crude prices start to lift earnings forecasts. Brent finished Friday at $112.19 a barrel, notching its strongest close since July 2022. According to Woodside, around 75% of its LNG volumes for 2026 to 2028 are already locked in, most of them linked to oil prices.
Woodside tapped Elizabeth (Liz) Westcott as chief executive and managing director on Wednesday, removing the “acting” title she’s held since December. Westcott, in the company’s filing, said she’s prioritizing “disciplined execution” on growth projects and building long-term shareholder value. ASX Announcements
She pointed directly to Louisiana LNG, calling it a key focus right now. The U.S. export project remains central to Woodside’s ambitions in North America. The company said it’s continuing efforts to secure additional backers for the development.
Western Australia has thrown in additional backing lately. Woodside, according to Reuters, landed approval to export an extra 3 million tonnes of LNG after agreeing to deliver 23 petajoules more gas into the domestic market by 2029. For context, a petajoule is a standard energy metric in gas trading. Pluto LNG 2 is on track for startup in the final quarter this year, bringing online another 5 million tonnes per year in capacity.
Governance stayed in focus thanks to a fresh batch of filings. On Thursday, Woodside added ex-Anglo American boss Mark Cutifani to its board, with Chair Richard Goyder backing him to help keep strategy execution tight. Then Friday, the AGM notice landed, asking shareholders to sign off on 119,926 extra performance rights—long-term incentives tied to shares—for Westcott, plus a bump in the non-executive director fee pool by A$500,000 to A$5.175 million.
The gain set Woodside apart from a key domestic rival: Santos dipped 0.5% at that stage Friday. That points to more than just a play on oil prices—investors also appeared to be responding to Woodside’s fresh CEO and board news.
But delivery remains the sticking point for a full re-rating. RBC’s Gordon Ramsay described Westcott as a “low-risk appointment.” David Tuckwell over at ETF Shares echoed the sentiment, calling her a “safe pair of hands.” Kevin Morrison, with the Institute for Energy Economics and Financial Analysis, pointed out that investors are likely to focus most on her handling of Louisiana LNG, especially as cost pressures increase. Woodside, for its part, still has to land commercial deals and secure environmental sign-offs before Browse can progress. Reuters
