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Dale Koenders

Dale Koenders

Research Analyst at Barrenjoey

Sydney, NSW, AU

Dale Koenders is the Head of Energy & Utilities Research at Barrenjoey, specializing in covering prominent energy and resource companies such as Ampol and Woodside. With a proven track record in investment research, Koenders brings deep expertise to equity analysis, regularly contributing insights on major assets and market dynamics that influence returns in the energy sector. His career spans senior analyst roles at top institutions including JP Morgan Securities Australia and Citigroup Global Markets Australia, before joining Barrenjoey in 2021 to lead their energy research initiatives. Koenders holds extensive professional credentials and is recognized for his industry knowledge and leadership within Australian equity research.

Dale Koenders's questions to WOODSIDE ENERGY GROUP (WDS) leadership

Question · H1 2025

Dale Koenders of Barrenjoey pointed out a $600 million difference between the year-to-date CapEx reported in the Q2 update and the figure on the cash flow statement, asking for a reconciliation. He also asked about the outlook for cash tax payments relative to tax expense.

Answer

Executive VP & CFO Graham Tiver clarified that the primary difference between the two CapEx figures is the inclusion of capitalized borrowing costs in the cash flow statement view. On taxes, he noted that many factors influence cash tax payments, making it difficult to give precise forward guidance, but the company aims to provide as much guidance as possible.

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