Latest news with #MadDog
Yahoo
06-03-2025
- Entertainment
- Yahoo
Equity Calls On Government Regulator To Punish Mad Dog Casting After Agency Collapsed Owing Creditors $2M
EXCLUSIVE British actors' union Equity has written to a government regulator urging it to take action against Mad Dog 2020 Casting, a 25-year-old UK agency that collapsed last month owing creditors more than £1.5M ($1.9M). Paul W. Fleming called on Ben Bruten, boss of the Employment Agencies Standards Inspectorate (EASI), to exercise its powers against Mad Dog, which includes fines, prosecutions, and the ability to ban individuals from running agencies in the future. Mad Dog's parent company, Cinextra Limited, lists directors including CEO Graham Beswick. More from Deadline 'Doctor Who' Trailer Teases Killer Cartoons, Interstellar Song Contest & New Companion In Season 2 Disney+ & BBC Set 'Doctor Who' Season 2 Premiere Date; Alan Cumming To Guest Star As Mr. Ring-A-Ding BBC Removes Disgraced Presenter Huw Edwards From 'Doctor Who' & Restores Episode To iPlayer 'Equity would like to ask … how the EASI intends to use its powers to ensure that the individuals behind Mad Dog are held accountable for systematic breaches of their statutory obligations and treatment of artists, and so that they cannot continue their behaviour,' Fleming said. Deadline chronicled the issues at Mad Dog last year, with clients complaining that they were owed thousands by the agency that supplied background actors to productions including Call the Midwife and Doctor Who. Mad Dog continued to trade despite failing to observe multiple county court judgments in favor of supporting artists owed money. Fleming told Deadline that the company's collapse had been 'horrendous' for Equity members, adding that the 'scale [of damage] is extraordinary for people with precarious incomes.' He acknowledged that it was unlikely that actors would be paid money they are owed, but said this will not stop Equity fighting for justice. 'If we can't get a pound in cash, we can get a pound in flesh,' he added. Mad Dog filed for liquidation in February. MHA, the accountancy company, is overseeing the process and has called a meeting of creditors on Friday morning. A statement of Mad Dog's affairs, seen by Deadline, shows the agency owes £1.66M ($2.1M) to creditors, including £1.3M to trade and expense creditors and £67,400 to employees. MHA said there was a 'large number of creditors.' A spokesperson for the Department for Business and Trade, which oversees the EASI, said: 'We take all relevant complaints about agencies seriously and ensure they are thoroughly investigated.' The spokesperson declined to comment on the EASI's industry-wide investigation into agencies in the entertainment space. Last year, Mad Dog apologized to clients and stressed that it was committed to clearing its backlog of payments. The agency blamed the twin U.S. writer and actors' strikes for its financial issues. Under UK regulations, it is unlawful for an agency to withhold payment from clients for more than 10 days after receiving funds from a producer, broadcaster, or streamer. Best of Deadline 2025 TV Series Renewals: Photo Gallery 2025 Awards Season Calendar: Dates For Tonys, Emmys & More 2025 TV Cancellations: Photo Gallery
Yahoo
25-02-2025
- Business
- Yahoo
Woodside Energy Group Ltd (WOPEF) (Q4 2024) Earnings Call Highlights: Record Production and ...
Record Production: 194 million barrels of oil equivalent, at the top end of the full-year guidance range. Net Profit After Tax: $3.6 billion, a significant increase from 2023. Underlying Net Profit After Tax: $2.9 billion. Earnings Per Share: USD1.89. Dividend: Fully franked total full-year dividend of USD1.22 per share. Unit Production Cost: Reduced to $8.10 per barrel of oil equivalent. EBITDA Margin: 70%. Cash Margin: Above 80%, sustained consecutively for four years. Free Cash Flow: $1 billion, excluding the impact of acquisitions and divestments. Scope 1 and 2 Emissions Reduction: 14% below the starting base. Social Contribution Spend: AUD35.4 million. Local Economic Contribution: More than $7.9 billion, including $5.1 billion in Australia. Warning! GuruFocus has detected 7 Warning Signs with WOPEF. Release Date: February 24, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Woodside Energy Group Ltd (WOPEF) reported record annual production of 194 million barrels of oil equivalent, reaching the top end of their full-year guidance range. The company achieved a significant net profit after tax of $3.6 billion, marking a substantial increase from the previous year. Woodside Energy Group Ltd (WOPEF) declared a fully franked total full-year dividend of USD1.22 per share, at the top of their payout range. The company successfully reduced its net equity Scope 1 and 2 emissions by 14% below the starting base, aligning with its climate commitments. Woodside Energy Group Ltd (WOPEF) made transformative decisions, including targeted acquisitions and project executions, positioning the company for long-term growth and value creation. The tragic death of a construction contractor employee at the Beaumont new ammonia project highlighted ongoing safety challenges. Approval delays in 2023 led to the extension of some decommissioning work into 2024, impacting project timelines. The company faces potential risks from regulatory delays, particularly concerning the North West Shelf project, which could affect future investments. Woodside Energy Group Ltd (WOPEF) experienced a modest 2P reserve cut to the Mad Dog project, raising concerns about subsurface challenges. The company's equity has underperformed compared to global and local peers over the last 12 months, raising questions about market confidence. Q: Can you comment on the changes in decommissioning costs and what's driving them? A: Marguerite O'Neill, CEO: Approval delays in 2023 extended some work into 2024. The focus is on cleaning up legacy assets like Stybarrow and Enfield. After completing these, there will be no enduring spend for those assets. The profile is a bit lumpier for others, with significant milestones in 2027. Beyond 2027, we expect a steady state level of activity in decommissioning. Q: How is the Beaumont New Ammonia project progressing towards its IRR target? A: Marguerite O'Neill, CEO: The project is 83% complete and is on track to achieve an IRR of greater than 10%. We have provided guidance on ongoing unit cash production costs to help the market with calculations. We expect to meet and potentially exceed our capital allocation framework. Q: Will the Louisiana LNG project proceed with two or three trains at FID? A: Marguerite O'Neill, CEO: The EPC contract with Bechtel is for three trains, and our marketing with potential partners is based on this foundation. The first notice to proceed will be for Trains 1 and 2, with a subsequent notice for Train 3. The pricing is based on three trains, and we plan to move ahead with this foundation. Q: Can you provide an update on the Louisiana LNG sell-down process and expected premiums? A: Marguerite O'Neill, CEO: We are well advanced in the sell-down process with high-quality counterparties. We expect to attract a premium similar to US peers like Cheniere and Venture Global. The focus is on securing partners to share capital investments and achieving a fair price for shareholders. Q: How is the progress on Sangomar Phase 2, and when can we expect an update on reserves? A: Marguerite O'Neill, CEO: We need 12 to 24 months of data to make informed decisions on Phase 2. We will continue to book reserves as data comes in and migrate reserves from 2P to 1P based on reservoir performance. The migration to 1P will follow SEC rules. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
