WDS -0.35%: the energy company provided guidance ahead of their investor day later this week, with shares holding up despite the numbers disappointing, The company expects CY23 production of between 180-190mmboe with the market hoping for a number just above 200mmboe. Some of the miss can be explained by changes in their oil equivalent conversions, while the company also assumes no contribution from Sangomar which is due to come online near the end of the period. Most of the miss though comes from site works planned for Pluto in Q2 which may see the asset out of production for 4 weeks.
MM is long and bullish WDS
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