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Adam Martin

Research Analyst at E&P Financial Group

Adam Martin is Executive Director of Energy at E&P Financial Group, specializing in energy sector research and corporate advisory, with a focus on oilfield service companies and upstream resource firms. Over his career, he has covered major energy companies during his tenure at Morgan Stanley and Lime Rock Partners, bringing two decades of industry and financial expertise. Joining E&P Financial Group in 2022 after more than nine years at Morgan Stanley, Martin has developed a track record through high-profile M&A advisory and independent research on energy equities. He holds a Bachelor in Geological Engineering from RMIT and a Master’s in Petroleum Engineering from the University of NSW, and his background includes direct industry experience with Halliburton, as well as credentials in M&A and investment research.

Adam Martin's questions to WOODSIDE ENERGY GROUP (WDS) leadership

Question · H1 2025

Adam Martin from E&P Financial Group asked for details on the development opportunities at Bass Strait and the steps needed to reach a final investment decision (FID). He also questioned the $443 million restoration cost movement, its spending timeline, and whether similar risks apply to other programs like Bass Strait.

Answer

CEO & Managing Director Meg O’Neill explained that the Bass Strait opportunities are gas discoveries that can now be solely developed by Woodside post-operatorship transition, with an FID possible after the transition completes. Regarding restoration costs, she attributed the increase to unexpected equipment conditions at legacy non-producing sites like Stiebaro and Minerva. She contrasted this with recently ceased fields like Enfield and the ongoing Bass Strait work, where decommissioning is proceeding more efficiently and on track.

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