1857 ET - Solid early performance from Woodside Energy's majority-owned Sangomar oil project in Senegal should boost the chances of a Phase 2 development, Goldman Sachs says. Still, Goldman pushes back the likely timing of that expansion to beyond 2030 since Woodside is facing significant capex costs to build the Louisiana LNG project in the U.S. Woodside said Sangomar maintained plateau rates of 99,000 barrels of oil/day in 1Q. That helped the company's overall output in 1Q beat Goldman'sestimates by 1%. Goldman retains a neutral call on Woodside. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

April 23, 2025 18:57 ET (22:57 GMT)

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