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- Woodside Energy (WDS) delivers record production of 51.2 million barrels of oil equivalent (MMboe) for Q3 2022, up 52 per cent from the previous quarter
- The ASX 200 company also delivered a record sales volume of 57.1 MMboe which supported a record revenue result of $5.85 billion
- The strong performance has led Woodside to upgrade its full-year 2022 production guidance to between 153 to 157 MMboe
- Woodside also progressed development and construction work for the Scarborough and Pluto Train 2 projects in WA and the Sangomar field development offshore Senegal
- Woodside is up 5.02 per cent and trading at $34.19 at 2:07 pm AEDT
Woodside Energy (WDS) delivered record production of 51.2 million barrels of oil equivalent (MMboe) for Q3 2022, up 52 per cent from the previous quarter.
The ASX 200 company also delivered a record sales volume of 57.1 MMboe and record revenue of $5.85 billion, up 59 per cent and 70 per cent from Q2 2022, respectively.
Woodside said the revenue increase reflects the higher sales volume as well as the average portfolio realised price which rose seven per cent to $102 per barrel of oil equivalent.
Due to these increases, Woodside has upgraded its full-year 2022 production guidance to between 153 to 157 MMboe.
During the quarter, the petroleum explorer and producer began the manufacture of subsea flowlines for the Scarborough and Pluto Train 2 projects in WA, which when combined are 21 per cent complete.
The subsea installation campaign also began for the Sangomar Field Development offshore Senegal and is now 70 per cent complete with first oil targeted for the second half of 2023.
Tenders were issued for major scopes of work for the Trion oil development offshore Mexico and long-term marketing agreements were signed to increase exposure to Atlantic Basin liquified natural gas (LNG) and provide LNG to the European market.
CEO Meg O’Neill said work on Woodside’s major projects have progressed to plan.
“Overall, the Scarborough and Pluto Train 2 projects combined were 21 per cent complete at the end of the quarter and remain on track for targeted first LNG cargo in 2026,” Ms O’Neill said.
Additionally, Andrew Cox has resigned as an additional Company Secretary, effective immediately, but will remain as Vice President Legal & Group General Counsel.
Lucy Brown has been appointed as an additional Company Secretary.
Woodside was up 5.02 per cent and trading at $34.19 at 2:07 pm AEDT.
