Woodside and BHP petroleum merger one step closer

BHP petroleum oil rig at sea against beautiful sunset (woodside merger)
Image: BHP

The National Offshore Petroleum Titles Administrator has provided the approval under Chapter 5A of the Offshore Petroleum and Greenhouse Gas Storage Act 2006 (Cth) necessary for Woodside to implement the proposed merger with BHP Group’s petroleum business. 

Woodside shareholder approval, which will be sought at Woodside’s 2022 Annual General Meeting on May 19, is the only outstanding condition precedent requiring a positive action or an event in order to be satisfied. 

Following shareholder approval, Woodside expects completion of the merger to occur on June 1, 2022.

Related article: Woodside faces investor backlash over climate strategy

Woodside recently announced the executive leadership team to lead the company following the merger’s completion.

Leadership positions will be based in Perth and Houston, reflecting the global nature of the combined portfolio. Woodside CEO Meg O’Neill said the nominated leadership team has the capabilities, experiences and diverse perspectives to deliver long-term success for the merged company.

“The merged business is expected to have the scale and cash flow to create value for shareholders, deliver growth and thrive through the global energy transition, enabled by a leadership team that brings together the very best of our two organisations.”

Nominations are as follows:

Finance: Graham Tiver was recently announced as Woodside’s chief financial officer and executive vice president, based in Perth. During his 28-year career with BHP and WMC Resources, Tiver held significant financial, commercial and leadership roles across a range of business sectors, including minerals and oil and gas.

Australian operations: Fiona Hick has been nominated to lead Australian operations, based in Perth. Hick joined Woodside in 2001 and has been Woodside’s EVP of operations since 2019.

International operations: Shiva McMahon has been nominated to lead international operations, based in Houston. McMahon is currently general manager of Australia Production Unit at BHP Petroleum. She previously held the role of BHP Petroleum’s VP finance.

New energy: Shaun Gregory has been nominated to lead new energy, based in Perth. Gregory joined Woodside in 1995 and currently holds the role of EVP sustainability and chief technology officer.

Marketing and trading: Mark Abbotsford has been nominated to lead marketing and trading, based in Perth. Abbotsford is currently Woodside’s VP marketing, trading and shipping.

Exploration and development: Andy Drummond has been nominated to lead exploration and development, based in Houston. Drummond is currently VP of Sustainability and Innovation for BHP Petroleum.

Projects: Matthew Ridolfi has been nominated to lead projects, based in Houston. Ridolfi joined BHP in 1991 and is currently the VP of major developments with accountability for global major developments and all operated well and seismic delivery activities.

Corporate services: Julie Fallon has been nominated to lead corporate services, based in Perth. Fallon joined Woodside in 1998 and is currently acting senior VP corporate and legal.

Related article: Woodside Petroleum revenue more than doubles

Strategy and climate: Tony Cudmore has been nominated to lead strategy and climate, based in Perth. Cudmore is currently group sustainability and public policy officer for BHP Group.

Merger integration: Daniel Kalms is currently SVP merger integration planning at Woodside, and he has been nominated to lead merger integration activities after completion of the proposed merger, based in Perth.

Other than Tiver and Kalms, all of the new nominees will take their nominated roles upon completion of the proposed merger.

Previous articleInnovation to power the energy transition in Australia
Next articleGas giants pay no tax on income of $138 billion