Liquefied natural gas producer Woodside Petroleum Ltd
(ASX:WPL) has revealed that CEO Don Voelte has sold close to a third of his stake in the company.
However shares in the oil and gas producer advanced in early trade this morning despite the news.
In a release to the ASX yesterday Woodside disclosed that Mr Voelte had sold 36,677 Woodside shares at a price of $44.31 each, earning himself over $1.6 million.
Mr Voelte now has 96,018 ordinary shares in the company, and 968 shares held indirectly.
In February Woodside reported profit of $1.8 billion and sales revenue of $4.352 billion on the back of record sales volume of 80.7 million barrels of oil equivalent.
The company expects a 2010 production range of between 70 and 75 million barrels of oil equivalent, following the divestment of its interest in the Otway Gas Project.
Woodside Petroleum paid shareholders a total of $1.10 a share in dividends for 2009.
