Sangomar extends its run
Quarterly performance highlights
-- Quarterly production of 50.8 MMboe (552 Mboe/d), up 1% from Q2 2025.
Full-year 2025 production guidance has been revised to 192 -- 197 MMboe.
-- Continued exceptional performance from Sangomar, with 99 Mbbl/d
produced (100% basis, 82 Mbbl/d Woodside share), generating $477 million
revenue for the quarter.
-- Achieved outstanding Pluto LNG reliability of 100% for the quarter.
-- Achieved an average realised quarterly price of $60/boe, benefiting
from diversified pricing and optimisation.
Project highlights
-- The Scarborough Energy Project was 91% complete, and is on track for
first LNG in the second half of 2026.
-- The Beaumont New Ammonia Project was 97% complete, with Phase 1
targeting first ammonia production from late 2025.
-- The Trion Project was 43% complete, and is targeting first oil in
2028.
-- The Louisiana LNG Project, comprising three trains, was 19% complete.
Train 1 was 25% complete and is targeting first LNG in 2029.
Business and portfolio highlights
-- Received the final environmental approval from the Australian
Government on the North West Shelf Project Extension. The approval
enables continued operations beyond 2030, allowing increased resource
recovery and other resource owners gas processing subject to rigorous
conditions.
-- Agreed to assume operatorship of the Bass Strait assets, unlocking
potential development of additional gas resources, with completion
targeted in 2026.
-- Completed the divestment of the Greater Angostura assets, receiving
cash of $259 million.1
-- Entered into a sale and purchase agreement with PETRONAS and a heads of
agreement with BOTA for the long-term supply of LNG.2
PERTH, Australia--(BUSINESS WIRE)--October 21, 2025--
Woodside Energy Group (ASX: WDS) (NYSE: WDS):
2025 full-year
guidance Prior Current Comments
--------------------- ----------- ------------- ------------- ------------
Continued
strong
performance
across
Production MMboe 188 - 195 192 - 197 assets
--------------------- ----------- ------------- ------------- ------------
Continued
strong
performance
from
Sangomar and
Unit production cost $/boe 8.0 - 8.5 7.6 - 8.1 US assets
--------------------- ----------- ------------- ------------- ------------
Property, plant and
equipment
depreciation and
amortisation $ million 4,700 - 5,000 4,800 - 5,100
--------------------- ----------- ------------- ------------- ------------
Exploration
expenditure $ million 200 No change
--------------------- ----------- ------------- ------------- ------------
Payments for
restoration $ million 700 - 1,000 No change
--------------------- ----------- ------------- ------------- ------------
% of
produced
Gas hub exposure(3) LNG 28 - 35 27 - 31
--------------------- ----------- ------------- ------------- ------------
Capital expenditure $ million 4,000 - 4,500 3,700 - 4,000 Timing of
(excluding Louisiana sustaining
LNG)(45) capital
expenditure
and
Scarborough;
no impact to
total cost
or start-up
schedule.
--------------------- ----------- ------------- ------------- ------------
Louisiana LNG $ million 1,000 -1,200 No change
expenditure(5,6)
--------------------- ----------- ------------- ------------- ------------
Woodside CEO Meg O'Neill said the company maintained excellent operational performance over the quarter, while efficiently executing a global portfolio of growth projects to drive long-term shareholder value.
"Woodside delivered increased quarterly production of 51 million barrels of oil equivalent. Sangomar maintained its exceptional performance, producing 99 thousand barrels of oil per day at 98.2% reliability. Our Australian assets also demonstrated outstanding reliability of 100% at Pluto LNG and 99.9% at the North West Shelf Project.
"We received final Australian Government approval during the quarter for the North West Shelf Project Extension, providing certainty for ongoing operations and reliable energy supply from this high-quality asset.
"Our agreement to assume operatorship of the Bass Strait assets further strengthens Woodside's Australian operations portfolio and unlocks potential development of additional gas resources.
"We continued safe delivery of Woodside's major growth projects to schedule and budget.
"Strong momentum on delivery of the Scarborough Energy Project continues, which is now 91% complete and on track for first LNG in the second half of 2026. During the quarter, three more development wells were drilled with reservoir quality and well deliverability expectations in line with pre-drill estimates, and pre-commissioning of the subsea infrastructure was completed.
"Our Beaumont New Ammonia Project is 97% complete, with key systems now operational and commissioning activities underway. We continue to target first ammonia production in late 2025.
"Our Louisiana LNG Project, comprising three trains, has ramped up with more than 1,000 personnel now on site and construction is 19% complete. Strong support for the project from state and federal governments and the Louisiana community was in evidence at our groundbreaking ceremony in September.
"Customer demand for Woodside's LNG remains robust. Our fully termed sales and purchase agreement with PETRONAS will see Woodside supply one million tonnes per annum of LNG to Malaysia from 2028 for a 15-year period. Under our heads of agreement with BOTA , Woodside will supply the Turkish company with approximately 0.5 million tonnes per annum of LNG over nine years from 2030, subject to entering a binding sales and purchase agreement.
"Woodside continues to support our customers' decarbonisation efforts. During the quarter, we signed a memorandum of understanding with Japan Suiso Energy and The Kansai Electric Power Co. to collaborate on the proposed development of a liquid hydrogen supply chain between Western Australia and Japan, centred on our proposed H2Perth Project. The Premier of Western Australia attended the signing event, highlighting the significance of this opportunity."
Comparative performance at a glance
Q3 Q2 Change Q3 Change YTD YTD Change
2025 2025 % 2024 % 2025 2024 %
------------------ ---------- ----- ----- ------ ----- ------ ----- ----- ------
Revenue(7) $ million 3,359 3,275 3% 3,707 (9%) 9,949 9,695 3%
------------------ ---------- ----- ----- ------ ----- ------ ----- ----- ------
Production(8) MMboe 50.8 50.1 1% 53.1 (4%) 149.9 142.4 5%
Gas MMscf/d 1,827 1,825 -- 2,001 (9%) 1,831 1,939 (6%)
Liquids Mbbl/d 231 230 -- 226 2% 228 180 27%
Total Mboe/d 552 550 --% 577 (4%) 549 520 6%
------------------ ---------- ----- ----- ------ ----- ------ ----- ----- ------
Sales(9) MMboe 55.0 54.4 1% 56.1 (2%) 159.6 149.9 6%
Gas MMscf/d 2,116 2,050 3% 2,172 (3%) 2,043 2,079 (2%)
Liquids Mbbl/d 226 238 (5%) 228 (1%) 226 182 24%
Total Mboe/d 598 598 --% 609 (2%) 585 547 7%
------------------ ---------- ----- ----- ------ ----- ------ ----- ----- ------
Average realised
price $/boe 60 59 2% 65 (8%) 61 63 (3%)
------------------ ---------- ----- ----- ------ ----- ------ ----- ----- ------
Capital
expenditure $ million 1,323 752 76% 3,033 (56%) 3,881 5,423 (28%)
Capex
excluding
Louisiana
LNG(10) $ million 1,047 868 21% 1,133 (8%) 2,820 3,523 (20%)
Louisiana
LNG(11) $ million 276 (116) 338% -- -- 1,061 -- --
Acquisitions $ million -- -- -- 1,900 (100%) -- 1,900 (100%)
Operations
Pluto LNG
-- Achieved quarterly LNG reliability of 100%.
-- The XNA-03 infill well is progressing toward RFSU, targeted in H1
2026.
North West Shelf (NWS) Project
-- Achieved strong quarterly LNG reliability of 99.9%.
-- Completed planned maintenance offshore at North Rankin and onshore at
Karratha Gas Plant (KGP), with production recommencing as planned.
-- Successfully started the Lambert West development well, tied back to
the Angel platform.
-- Received the final environmental approval from the Australian
Government on the NWS Project Extension, enabling processing of remaining
infill and near-field opportunities from existing NWS reserves beyond
2030 and gas from other resource owners. Woodside has assessed the work
required to meet the federal conditions; there is no material increase
expected to forecast capital expenditure to maintain ongoing North West
Shelf production. The federal conditions provide clarity on the
modifications required at KGP that will support processing of other
resource owners' gas.
-- Subsequent to the quarter, two separate legal proceedings were
commenced in the Federal Court of Australia challenging the Australian
Government's decision to approve the NWS Project Extension.
Wheatstone and Julimar-Brunello
-- Progressed the Julimar Phase 3 Project, a four-well tieback to the
existing Julimar field production system. Drilling activities commenced
in the quarter, with project startup targeted in 2026.
-- Completion of the asset swap with Chevron remains targeted for 2026.12
Bass Strait
-- Agreed to assume operatorship of the Bass Strait assets from ExxonMobil
Australia, with completion targeted for 2026.13 Four potential
development wells have been identified that could deliver up to 200 PJ of
sales gas to the market, subject to further technical maturation and a
final investment decision. This potential production has been identified
from within the existing contingent resource opportunity set.14
-- Delivered reliability of 90.5% during the peak winter period, the first
winter post completion of the Gippsland Asset Streamlining Project.
-- Progressed the Kipper 1B Project with drilling activities completed
subsequent to the end of the period.
Sangomar
-- Achieved average daily production rate of 99 Mbbl/d (100% basis, 82
Mbbl/d Woodside share) at 98.2% reliability.
-- Strong field performance in the S500 reservoirs resulted in an
additional 18.4 million barrels of proved (1P) reserves being added in
July.15
-- Production from the Sangomar field remained on plateau through the
quarter, with the field expected to come off plateau during Q4 2025.
-- Recognised as International Local Content Champion of the Year by
African Energy Week 2025 for commitment to building local capacity and
fostering skills transfer.
United States of America
-- Achieved strong quarterly production at Shenzi, supported by
reliability of 97.1%.
-- Commenced drilling activities on the Atlantis Drill Center 1 Expansion
Project.
-- Achieved first production from the Argos Southwest Extension Project in
August, 25 months after finishing the appraisal well.
Greater Angostura
-- On 11 July 2025, completed the divestment of the Greater Angostura
assets to Perenco which includes Woodside's interest in the shallow water
Angostura and Ruby offshore oil and gas fields, associated production
facilities, and onshore terminal, receiving cash of $259 million.16
Marketing
-- Signed a fully termed sales and purchase agreement with PETRONAS LNG
Ltd, a subsidiary of Petroliam Nasional Berhad (PETRONAS), for the supply
of 1 Mtpa of LNG to Malaysia from 2028 for a period of 15 years.
-- Signed a heads of agreement with Boru Hatlarıile Petrol Ta
ıma A. . (BOTA ), for the supply of approximately 0.5 Mtpa of LNG
from 2030, for a period of up to nine years. Supply will primarily be
from the Louisiana LNG Project. The supply arrangement is subject to the
parties entering a binding sales and purchase agreement.
-- Woodside held a naming ceremony for two new LNG charter vessels, the
Woodside Jirrubakura and the Woodside Barrumbara. The Woodside
Jirrubakura was delivered during the quarter and will support the
start-up of the Scarborough Energy Project.
-- Executed incremental pipeline gas sales of:
-- 4.9 PJ in Western Australia for delivery in 2025. Woodside
continues to engage with the Western Australian domestic market on
additional spot supply and requirements for 2026 and 2027.
-- 29.2 PJ in Eastern Australia for delivery in 2026 and 2027.
-- Supplied 29.8% of produced LNG at prices linked to gas hub indices in
the quarter, realising a $2.4/MMBtu premium compared to oil-linked
pricing. This represents 10.9% of Woodside's total equity production.
Business Development
-- Signed a non-binding memorandum of understanding with Hyundai
Engineering and Hyundai Glovis, establishing a strategic framework to
collaborate on LNG project development, engineering services and shipping
logistics.
Projects
Scarborough Energy Project
-- The Scarborough and Pluto Train 2 Projects were 91% complete at the end
of the quarter (excluding Pluto Train 1 modifications).
-- Continued integration and commissioning activities for the floating
production unit ahead of China departure in November.
-- Continued drilling of the development wells with the fourth, fifth and
sixth wells drilled and completed. Subsequent to the period, the seventh
development well was drilled. Reservoir quality and well deliverability
expectations continue to be in line with pre-drill estimates.
-- Completed the installation, testing and pre-commissioning of the subsea
infrastructure.
-- Pluto Train 2 workforce numbers remain at peak levels. Key activities
include piping and electrical installation, system testing and
commissioning.
-- Completed installation of structural decks on the Pluto Train 1
modifications modules. Key activities include piping, electrical and
equipment installation.
-- The Federal Court of Australia confirmed the validity of the National
Offshore Petroleum and Safety and Environmental Management Authority's
acceptance of the Scarborough Offshore Facility and Trunkline
(Operations) Environment Plan.
-- First LNG cargo is on track for the second half of 2026.
Beaumont New Ammonia
-- The Beaumont New Ammonia Project was 97% complete at the end of the
quarter.
-- Pre-commissioning and commissioning activities for Train 1 remain
underway. Key systems are now operational.
-- Catalyst loading in the ammonia converter has begun and commissioning
of critical equipment is scheduled to begin in October.
-- First ammonia production is targeted for late 2025, subject to
satisfying the commissioning and startup requirements for the facility.
-- Project completion and associated payment of the remaining 20% of the
acquisition consideration is expected in 2026.
Trion
-- The Trion Project was 43% complete at the end of the quarter.
-- Progressed fabrication of the floating production unit hull and
topside.
-- Commenced fabrication and progressed detailed engineering of the
floating storage and offloading unit.
-- Progressed manufacturing of subsea equipment, with the first manifold
completed.
-- Received regulatory approval for the Environmental Impact Assessment.
-- First oil is targeted for 2028.
Louisiana LNG
-- The Louisiana LNG Project, comprising three trains, was 19% complete
and first LNG is targeted for 2029.
-- Train 1 was 25% complete at the end of the quarter. First deliveries of
structural steel and process piping were received for Train 1
construction.
-- Train 2 and 3 were 14% and 12% complete respectively at the end of the
quarter. Foundation work for both are underway.
-- Commenced LNG tank vertical construction.
-- Continued focus on progressing the marine offloading facility, marine
dry excavation, and civil works.
-- Progressed securing rights of way for new build pipeline (Line 200) to
terminal, currently secured 55% by length.
-- Received approval of the Quality Jobs incentive application from the
Louisiana Board of Commerce and Industry. The incentive is estimated to
provide $132 million in rebates for the Project.
Hydrogen Refueller @H2Perth
-- The Hydrogen Refueller @H2Perth is a self-contained hydrogen production,
storage and refuelling station located in Perth, Western Australia.
-- Commissioning activities have commenced on site in preparation, ready
for startup in Q4 2025.
-- First hydrogen production is targeting the first half of 2026.17
Decommissioning
-- Recommenced offshore decommissioning execution activities on Stybarrow
and Griffin in accordance with revised General Direction requirements.
-- Completed removal of xmas trees from the ten Stybarrow wells and
commenced removal of associated wellheads with four wellheads removed in
Q3.
-- Completed removal of Griffin mid-depth buoy chains.
-- Commenced preparations for planned removal of the Echo Yodel umbilical
in Q4 2025.
-- In Bass Strait, 11 wells were plugged in the quarter. Received funding
approval for the offshore platform removal campaign 1 project and
progressed environmental approvals.
Exploration and development
Browse
-- In August, the Western Australian Environmental Protection Authority
accepted an amendment to the Browse to North West Shelf Project proposal,
which reflects changes to the development footprint and new environmental
measures.
-- In September, the Department of Climate Change, Energy, the Environment
and Water (DCCEEW) accepted the corresponding amendment to the
Commonwealth Browse to North West Shelf Project proposal.
-- Following the referral of the Browse CCS Project in October 2024,
awaiting a decision by DCCEEW on the assessment approach and
corresponding level of assessment for the Browse CCS Project
environmental proposal under the Environment Protection and Biodiversity
Conservation Act.
-- Engaged contractors to progress pre-FEED engineering scopes for
floating production, storage and offtake facilities.
Sunrise
-- Woodside remains engaged with both the Timor-Leste and Australian
Governments, as well as the Sunrise Joint Venture participants, to
evaluate and address technical and commercial factors that support the
intended development of the fields.
-- Following Woodside's visit to Timor-Leste's south coast as a potential
location for processing Sunrise gas, a reciprocal visit was hosted in
Karratha and Perth for the Timor-Leste Minister of Petroleum and Mineral
Resources and a senior Timorese delegation to demonstrate Woodside's LNG
project execution skills and capabilities.
Calypso
-- The Calypso Joint Venture continues to review development options.
Concept select engineering studies to mature the technical and commercial
definition were completed in Q3.
Exploration
-- Acquired 17.5% working interest across five blocks in the Green Canyon
(United States) offshore area.
-- The Bandit-1 well (non-operated) was spud in September 2025 in permit
area GC 680.
New energy and carbon solutions
H2 Perth
-- Woodside Energy, Japan Suiso Energy, Ltd. and The Kansai Electric Power Co., Inc. have signed a memorandum of understanding to collaborate on the development of a liquid hydrogen supply chain between Australia and Japan, centered on Woodside's proposed H2Perth Project.
Carbon capture and storage $(CCS)$ opportunities
-- The Bonaparte CCS Assessment Joint Venture continued with pre-front end
engineering design.
-- Woodside continues to assess the South East Australia CCS opportunity.
Corporate activities
Climate and sustainability
-- On track to meet Woodside's target of reducing net equity Scope 1 and 2
greenhouse gas emissions by 15% by 2025.18,19
-- Released Woodside's 2024 Reconciliation Action Plan Report. The report
outlines progress against four pillars: Respect for Culture and Heritage,
Capability and Capacity, Economic Participation and Stronger
Communities.
Hedging
-- As at 30 September 2025, delivered approximately 83% of the 30 MMboe of
2025 oil production that was previously hedged at an average price of
$78.7 per barrel.
-- The realised value of all hedged positions for the period ended 30
September 2025 is an estimated pre-tax profit of $139 million, with a
$135 million profit related to oil price hedges offset by a $16 million
loss related to Corpus Christi hedges, and a $20 million profit related
to other hedge positions. Hedging profits will be included in 'other
income' except hedging profits related to interest rate swaps which will
be included in 'finance income' in the financial statements.
Funding and liquidity
-- As at 30 September 2025, Woodside had liquidity of approximately $8,300
million.
Embedded commodity derivative
-- In 2023, Woodside entered into a revised long-term gas sale and
purchase contract with Perdaman. A component of the selling price is
linked to the price of urea, creating an embedded commodity derivative in
the contract. The fair value of the embedded derivative is estimated
using a Monte Carlo simulation model.
-- As there is no long-term urea forward curve, Title Transfer Facilities
(TTF) continues to be used as a proxy to simulate the value of the
derivative over the life of the contract.
-- For the quarter ended 30 September 2025, an unrealised loss of
approximately $15 million is expected to be recognised through other
income.
Capital Markets Day
-- Woodside's Capital Markets Day 2025 will be held on Wednesday, 5
November 2025, commencing at 9:30 AEDT / 6:30 AWST / 16:30 CST (Tuesday,
4 November 2025).
-- A live webcast of the event will be available at
https://meetings.lumiconnect.com/300-031-281-118.
Upcoming events 2025-2026
November 5 Capital Markets Day
--------- ---------------------------
January 28 Fourth quarter 2025 report
--------- ---------------------------
February 24 2025 Annual Report
--------- ---------------------------
Production summary
Q3 Q2 Q3 YTD YTD
2025 2025 2024 2025 2024
----------- -------- ----- ----- ----- ----- -----
Gas MMscf/d 1,827 1,825 2,001 1,831 1,939
Liquids Mbbl/d 231 230 226 228 180
----------- -------- ----- ----- ----- ----- -----
Total Mboe/d 552 550 577 549 520
----------- -------- ----- ----- ----- ----- -----
Q3 Q2 Q3 YTD YTD
2025 2025 2024 2025 2024
------------------------- ------- ------ ------ ------ ------ -------
AUSTRALIA
LNG
North West Shelf Mboe 5,895 5,375 7,029 17,665 22,309
Pluto(20) Mboe 12,328 11,097 12,007 33,855 35,487
Wheatstone Mboe 2,677 2,424 2,565 7,523 6,881
------------------------- ------- ------ ------ ------ ------ -------
Total Mboe 20,900 18,896 21,601 59,043 64,677
------------------------- ------- ------ ------ ------ ------ -------
Pipeline gas
Bass Strait Mboe 3,929 3,653 4,069 10,774 9,838
Other(21) Mboe 3,921 3,975 4,016 11,703 11,142
------------------------- ------- ------ ------ ------ ------ -------
Total Mboe 7,850 7,628 8,085 22,477 20,980
------------------------- ------- ------ ------ ------ ------ -------
Crude oil and condensate
North West Shelf Mbbl 1,093 912 1,265 3,111 3,937
Pluto(20) Mbbl 989 899 966 2,745 2,830
Wheatstone Mbbl 471 419 474 1,331 1,316
Bass Strait Mbbl 505 457 701 1,364 1,696
Macedon & Pyrenees Mbbl 347 558 633 1,274 849
Ngujima-Yin Mbbl 960 1,084 1,231 2,769 3,091
Okha Mbbl 575 587 615 1,474 1,572
------------------------- ------- ------ ------ ------ ------ -------
Total Mboe 4,940 4,916 5,885 14,068 15,291
------------------------- ------- ------ ------ ------ ------ -------
NGL
North West Shelf Mbbl 258 207 288 695 857
Pluto(20) Mbbl 65 52 55 169 168
Bass Strait Mbbl 842 753 1,152 2,263 2,925
------------------------- ------- ------ ------ ------ ------ -------
Total Mboe 1,165 1,012 1,495 3,127 3,950
------------------------- ------- ------ ------ ------ ------ -------
Total Australia(22) Mboe 34,855 32,452 37,066 98,715 104,898
------------------------- ------- ------ ------ ------ ------ -------
Mboe/d 379 357 403 362 383
--------------------------------- ------ ------ ------ ------ -------
Q3 Q2 Q3 YTD YTD
2025 2025 2024 2025 2024
------------------------- ------- ------ ------ ------ ------- -------
INTERNATIONAL
Pipeline gas
USA Mboe 491 409 327 1,278 1,011
Trinidad & Tobago Mboe 242 2,205 2,289 4,863 6,528
Other(23) Mboe 6 5 - 34 -
------------------------- ------- ------ ------ ------ ------- -------
Total Mboe 739 2,619 2,616 6,175 7,539
------------------------- ------- ------ ------ ------ ------- -------
Crude oil and condensate
Atlantis Mbbl 2,783 2,604 2,351 7,859 6,811
Mad Dog Mbbl 2,310 2,470 2,363 7,357 8,072
Shenzi Mbbl 2,088 2,021 2,047 6,431 6,785
Trinidad & Tobago Mbbl 13 93 143 205 363
Sangomar Mbbl 7,516 7,396 5,902 21,922 6,442
Other(23) Mbbl 5 - 81 5 243
------------------------- ------- ------ ------ ------ ------- -------
Total Mboe 14,715 14,584 12,887 43,779 28,716
------------------------- ------- ------ ------ ------ ------- -------
NGL
USA Mbbl 442 398 515 1,238 1,263
Other(23) Mbbl 3 3 - 18 -
------------------------- ------- ------ ------ ------ ------- -------
Total Mboe 445 401 515 1,256 1,263
------------------------- ------- ------ ------ ------ ------- -------
Total International Mboe 15,899 17,604 16,018 51,210 37,518
------------------------- ------- ------ ------ ------ ------- -------
Mboe/d 173 193 174 188 137
--------------------------------- ------ ------ ------ ------- -------
Total Production Mboe 50,754 50,056 53,084 149,925 142,416
------------------------- ------- ------ ------ ------ ------- -------
Mboe/d 552 550 577 549 520
--------------------------------- ------ ------ ------ ------- -------
Product sales
Q3 Q2 Q3 YTD YTD
2025 2025 2024 2025 2024
---------- -------- ----- ----- ----- ----- -----
Gas MMscf/d 2,116 2,050 2,172 2,043 2,079
Liquids Mbbl/d 226 238 228 226 182
---------- -------- ----- ----- ----- ----- -----
Total Mboe/d 598 598 609 585 547
---------- -------- ----- ----- ----- ----- -----
Q3 Q2 Q3 YTD YTD
2025 2025 2024 2025 2024
------------------------- ------- ------ ------ ------ ------ -------
AUSTRALIA
LNG
North West Shelf Mboe 4,743 5,059 7,353 16,689 22,442
Pluto Mboe 13,609 11,969 12,014 35,254 35,276
Wheatstone(24) Mboe 1,623 3,346 3,345 7,186 8,104
------------------------- ------- ------ ------ ------ ------ -------
Total Mboe 19,975 20,374 22,712 59,129 65,822
------------------------- ------- ------ ------ ------ ------ -------
Pipeline gas
Bass Strait Mboe 4,070 3,620 4,163 10,989 10,241
Other(25) Mboe 4,028 3,833 3,816 11,445 10,145
------------------------- ------- ------ ------ ------ ------ -------
Total Mboe 8,098 7,453 7,979 22,434 20,386
------------------------- ------- ------ ------ ------ ------ -------
Crude oil and condensate
North West Shelf Mbbl 1,194 616 1,253 3,039 4,371
Pluto Mbbl 1,338 650 858 2,693 2,781
Wheatstone Mbbl 417 651 360 1,402 1,355
Bass Strait Mbbl 531 599 662 1,664 1,530
Ngujima-Yin Mbbl 1,171 1,151 1,082 2,985 3,099
Okha Mbbl - 1,256 618 1,256 1,808
Macedon & Pyrenees Mbbl 496 498 498 1,493 994
------------------------- ------- ------ ------ ------ ------ -------
Total Mboe 5,147 5,421 5,331 14,532 15,938
------------------------- ------- ------ ------ ------ ------ -------
NGL
North West Shelf Mbbl 430 - 249 907 770
Pluto Mbbl 105 - 52 215 156
Bass Strait Mbbl 374 1,010 1,142 1,610 2,288
------------------------- ------- ------ ------ ------ ------ -------
Total Mboe 909 1,010 1,443 2,732 3,214
------------------------- ------- ------ ------ ------ ------ -------
Total Australia Mboe 34,129 34,258 37,465 98,827 105,360
------------------------- ------- ------ ------ ------ ------ -------
Mboe/d 371 376 407 362 385
--------------------------------- ------ ------ ------ ------ -------
Q3 Q2 Q3 YTD YTD
2025 2025 2024 2025 2024
------------------------- ------- ------ ------ ------ ------- -------
INTERNATIONAL
Pipeline gas
USA Mboe 344 324 286 962 908
Trinidad & Tobago Mboe 243 2,233 2,004 4,750 6,067
Other(26) Mboe 4 4 2 12 13
------------------------- ------- ------ ------ ------ ------- -------
Total Mboe 591 2,561 2,292 5,724 6,988
------------------------- ------- ------ ------ ------ ------- -------
Crude oil and condensate
Atlantis Mbbl 2,801 2,606 2,436 7,901 6,875
Mad Dog Mbbl 2,310 2,485 2,489 7,415 8,158
Shenzi Mbbl 2,094 2,030 2,032 6,326 6,814
Trinidad & Tobago Mbbl 5 133 221 181 292
Sangomar Mbbl 6,833 7,505 6,070 20,859 6,070
Other(26) Mbbl 47 47 45 151 164
------------------------- ------- ------ ------ ------ ------- -------
Total Mboe 14,090 14,806 13,293 42,833 28,373
------------------------- ------- ------ ------ ------ ------- -------
NGL
USA Mbbl 440 385 388 1,196 1,255
Other(26) Mbbl 2 2 1 6 7
------------------------- ------- ------ ------ ------ ------- -------
Total Mboe 442 387 389 1,202 1,262
------------------------- ------- ------ ------ ------ ------- -------
Total International Mboe 15,123 17,754 15,974 49,759 36,623
------------------------- ------- ------ ------ ------ ------- -------
Mboe/d 164 195 174 182 134
--------------------------------- ------ ------ ------ ------- -------
MARKETING(27)
LNG Mboe 5,492 2,337 2,077 10,579 6,756
Liquids Mboe 249 64 555 417 1,163
------------------------- ------- ------ ------ ------ ------- -------
Total Mboe 5,741 2,401 2,632 10,996 7,919
------------------------- ------- ------ ------ ------ ------- -------
Total Marketing Mboe 5,741 2,401 2,632 10,996 7,919
------------------------- ------- ------ ------ ------ ------- -------
Total sales Mboe 54,993 54,413 56,071 159,582 149,902
------------------------- ------- ------ ------ ------ ------- -------
Mboe/d 598 598 609 585 547
--------------------------------- ------ ------ ------ ------- -------
Revenue (US$ million)
Q3 Q2 Q3 YTD YTD
2025 2025 2024 2025 2024
--------------------------- ----- ----- ----- ----- -----
AUSTRALIA
North West Shelf 323 295 520 1,153 1,636
Pluto 1,000 827 920 2,539 2,556
Wheatstone(28) 135 255 265 589 676
Bass Strait 265 283 344 776 814
Macedon 44 52 48 148 147
Ngujima-Yin 88 86 94 231 277
Okha - 90 51 90 147
Pyrenees 37 39 44 120 88
--------------------------- ----- ----- ----- ----- -----
Total Australia 1,892 1,927 2,286 5,646 6,341
--------------------------- ----- ----- ----- ----- -----
INTERNATIONAL
Atlantis 196 181 194 568 558
Mad Dog 150 161 192 501 645
Shenzi 142 138 160 447 555
Trinidad & Tobago(29) 6 78 63 150 162
Sangomar 477 510 464 1,468 464
Other(30) 2 4 3 9 13
--------------------------- ----- ----- ----- ----- -----
Total International 973 1,072 1,076 3,143 2,397
--------------------------- ----- ----- ----- ----- -----
Marketing revenue(31) 452 232 285 996 777
Total sales revenue(32) 3,317 3,231 3,647 9,785 9,515
Processing revenue 39 35 54 148 167
Shipping and other revenue 3 9 6 16 13
Total revenue 3,359 3,275 3,707 9,949 9,695
--------------------------- ----- ----- ----- ----- -----
Realised prices
Q3 Q2 Q3 Q3 Q2 Q3
Units 2025 2025 2024 Units 2025 2025 2024
------------------ --------- ----- ----- ----- ----- ----- ----- -----
LNG produced $/MMBtu 9.5 9.8 10.8 $/boe 60 62 68
LNG traded(33) $/MMBtu 11.2 11.4 11.2 $/boe 71 72 71
Pipeline gas $/boe 38 36 38
Oil and condensate $/bbl 68 68 78 $/boe 68 68 78
NGL $/bbl 41 43 48 $/boe 41 43 48
Liquids traded(33) $/bbl 60 68 60 $/boe 60 68 60
Average realised price for
pipeline gas:
Western
Australia A$/GJ 6.8 6.8 6.5
East Coast
Australia A$/GJ 12.9 13.4 14.2
International $/Mcf 4.2 4.7 4.3
Average realised
price $/boe 60 59 65
Dated Brent $/bbl 69 68 80
JCC (lagged three
months) $/bbl 75 79 88
WTI $/bbl 65 64 75
JKM $/MMBtu 12.5 12.5 12.4
TTF $/MMBtu 11.7 12.2 11.2
Average realised price increased 2% from the prior quarter reflecting higher Dated Brent and West Texas Intermediate $(WTI)$.
Capital expenditure (US$ million)
Q3 Q2 Q3 YTD YTD
2025 2025 2024 2025 2024
--------------------------------------- ----- ------- ----- ------- -----
Evaluation capitalised(34) 8 17 6 37 60
Property plant & equipment 1,032 828 1,076 2,749 3,301
Other (35) 7 23 51 34 162
--------------------------------------- ----- ------- ----- ------- -----
Capital expenditure excluding Louisiana
LNG 1,047 868 1,133 2,820 3,523
--------------------------------------- ----- ------- ----- ------- -----
Louisiana LNG(36) 498 1,754 - 3,153 -
Cash contribution from Stonepeak(37) (222) (1,870) - (2,092) -
--------------------------------------- ----- ------- ----- ------- -----
Total Louisiana LNG 276 (116) - 1,061 -
--------------------------------------- ----- ------- ----- ------- -----
Total capital expenditure 1,323 752 1,133 3,881 3,523
--------------------------------------- ----- ------- ----- ------- -----
Acquisitions(38) - - 1,900 - 1,900
--------------------------------------- ----- ------- ----- ------- -----
Total 1,323 752 3,033 3,881 5,423
--------------------------------------- ----- ------- ----- ------- -----
Q3 Q2 Q3 YTD YTD
2025 2025 2024 2025 2024
------------------------------------------- ----- ----- ----- ----- -----
Scarborough 361 333 438 1,016 1,575
Trion 291 92 225 698 459
Sangomar - 10 73 17 489
Other 395 433 397 1,089 1,000
------------------------------------------- ----- ----- ----- ----- -----
Capital expenditure excluding Louisiana LNG 1,047 868 1,133 2,820 3,523
------------------------------------------- ----- ----- ----- ----- -----
Other expenditure (US$ million)
Q3 Q2 Q3 YTD YTD
2025 2025 2024 2025 2024
---------------------------------------- ----- ----- ----- ----- -----
Exploration capitalised(34,39) 17 - - 22 22
Exploration and evaluation expensed(40) 46 46 90 127 190
Permit amortisation 2 - 2 5 8
---------------------------------------- ----- ----- ----- ----- -----
Total 65 46 92 154 220
---------------------------------------- ----- ----- ----- ----- -----
Trading costs 445 178 132 855 405
---------------------------------------- ----- ----- ----- ----- -----
Exploration or appraisal wells drilled
Planned
Water well
Permit depth depth
Region area Well Target Interest (%) Spud date (m) (m)(41) Remarks
-------- ------- --------- ------- ------------------- ---------- ----- ------- --------
2
United September
States GC 680 Bandit-1 Oil 17.5% Non-operator 2025 1,555 10,811 Drilling
Permits and licences
Key changes to permit and licence holdings during the quarter ended 30 September 2025 are noted below.
Permits or Change in Current
Region licence areas interest (%) interest (%) Remarks
-------------- --------------- ------------- ------------- ---------------
Licence
United States GC 679, GC 768 (14.4%) 17.5% assignment(42)
Licence
GC 680, GC 723, GC 724 17.5% 17.5% assignment(42)
MC 411, MC 412 (25%) -- Licence expired
GC 80, GC 123 (75%) -- Licence expired
GB 678, GC 663, GC 664, GB (100%) -- Licence
630, GB 676, GB 677, GB 762, relinquished
GB 805, GB 806, GB 851, GB
852, GB 895, GB 672, GB 716,
GB 760
EB 566, EB 567, EB 610, EB (70%) -- Licence
611 relinquished
Production rates
Average daily production rates (100% project) for the quarter ended 30 September 2025:
Production rate
Woodside (100% project,
share(43) Mboe/d) Remarks
Sep Jun
2025 2025
----------------------- ---------- -------- ------- ----------------------
AUSTRALIA
NWS Project
Production was higher
due to planned
maintenance in prior
LNG 29.33% 218 202 quarter.
Crude oil and
condensate 29.53% 40 34
NGL 29.58% 9 8
Pluto LNG
Production was higher
due to increased
LNG 90.00% 123 115 reliability.
Crude oil and
condensate 90.00% 11 10
Pluto-KGP
Interconnector
Production was higher
due to greater
processing capacity at
the Karratha Gas
LNG 100.00% 23 19 Plant.
Crude oil and
condensate 100.00% 1 1
NGL 100.00% 1 1
Wheatstone(44)
Production was higher
due to increased
seasonal plant
LNG 12.40% 235 231 capacity.
Crude oil and
condensate 16.31% 31 31
Bass Strait
Production was higher
due to increased
Pipeline gas 45.48% 94 84 seasonal demand.
Crude oil and
condensate 45.29% 12 11
NGL 46.47% 20 18
Australia Oil
Production was lower
Ngujima-Yin 60.00% 17 20 due to reliability.
Okha 50.00% 13 13
Pyrenees 63.34% 6 9
Other
Pipeline gas(45) 43 44
Production rate
Woodside (100% project,
share(46) Mboe/d) Remarks
Sep Jun
2025 2025
----------------------- ---------- -------- ------- ----------------------
INTERNATIONAL
Atlantis
Crude oil and Production was higher
condensate 38.50% 79 74 with new well online.
NGL 38.50% 7 6
Pipeline gas 38.50% 11 8
Mad Dog
Production was lower
due to planned
Crude oil and Southwest Extension
condensate 20.86% 120 130 tie in works.
NGL 20.86% 4 4
Pipeline gas 20.86% 2 2
Shenzi
Crude oil and
condensate 64.57% 35 34
NGL 64.63% 2 2
Pipeline gas 64.60% 1 1
Trinidad & Tobago
Greater Angostura
Crude oil and divestment completed
condensate 79.14%(47) -- 1 in July.
Pipeline gas 47.05%(47) 6 51
Sangomar
Crude oil 82.52%(47) 99 101
Disclaimer and important notice
Forward looking statements
This report contains forward-looking statements with respect to Woodside's business and operations, market conditions, results of operations and financial condition, including for example, but not limited to, outcomes of transactions, statements regarding long-term demand for Woodside's products, potential investment decisions, development, completion and execution of Woodside's projects, expectations regarding future capital expenditures, the payment of future dividends and the amount thereof, future results of projects, operating activities and new energy products, expectations and plans for renewables production capacity and investments in, and development of, renewables projects, expectations and guidance with respect to production, income, expenses, costs, losses, capital and exploration expenditure, gas hub exposure and expectations regarding the achievement of Woodside's net equity Scope 1 and 2 greenhouse gas emissions reduction and other climate and sustainability goals. All statements, other than statements of historical or present facts, are forward-looking statements and generally may be identified by the use of forward-looking words such as 'guidance', 'foresee', 'likely', 'potential', 'anticipate', 'believe', 'aim', 'aspire', 'estimate', 'expect', intend', 'may', 'target', 'plan', 'strategy', 'forecast', 'outlook', 'project', 'schedule', 'will', 'should', 'seek', and other similar words or expressions. Similarly, statements that describe the objectives, plans, goals or expectations of Woodside are forward-looking statements.
Forward-looking statements in this report are not guarantees or predictions of future events or performance, but are in the nature of future expectations that are based on management's current expectations and assumptions. Those statements and any assumptions on which they are based are subject to change without notice and are subject to inherent known and unknown risks, uncertainties, contingencies and other factors, many of which are beyond the control of Woodside, its related bodies corporate and their respective officers, directors, employees, advisers or representatives. Important factors that could cause actual results to differ materially from those in the forward-looking statements and assumptions on which they are based include, but are not limited to, fluctuations in commodity prices, actual demand for Woodside's products, currency fluctuations, geotechnical factors, drilling and production results, gas commercialisation, development progress, operating results, engineering estimates, reserve and resource estimates, loss of market, industry competition, sustainability and environmental risks, climate related transition and physical risks, changes in accounting, standards, economic and financial markets conditions in various countries and regions, political risks, the actions of third parties, project delay or advancement, regulatory approvals, the impact of armed conflict and political instability (such as the ongoing conflicts in Ukraine and in the Middle East) on economic activity and oil and gas supply and demand, cost estimates, legislative, fiscal and regulatory developments, including but not limited to those related to the imposition of tariffs and other trade restrictions, and the effect of future regulatory or legislative actions on Woodside or the industries in which it operates, including potential changes to tax laws, and the impact of general economic conditions, inflationary conditions, prevailing exchange rates and interest rates and conditions in financial markets and risks associated with acquisitions, mergers, divestitures and joint ventures, including difficulties integrating or separating businesses, uncertainty associated with financial projections, restructuring, increased costs and adverse tax consequences, and uncertainties and liabilities associated with acquired and divested properties and businesses.
A more detailed summary of the key risks relating to Woodside and its business can be found in the "Risk" section of Woodside's most recent Annual Report released to the Australian Securities Exchange and in Woodside's most recent Annual Report on Form 20-F filed with the United States Securities and Exchange Commission and available on the Woodside website at https://www.woodside.com/investors/reports-investor-briefings. You should review and have regard to these risks when considering the information contained in this report.
If any of the assumptions on which a forward-looking statement is based were to change or be found to be incorrect, this would likely cause outcomes to differ from the statements made in this report.
All forward-looking statements contained in this report reflect Woodside's views held as at the date of this report and, except as required by applicable law, Woodside does not intend to, undertake to, or assume any obligation to, provide any additional information or update or revise any of these statements after the date of this report, either to make them conform to actual results or as a result of new information, future events, changes in Woodside's expectations or otherwise.
Investors are strongly cautioned not to place undue reliance on any forward-looking statements. Actual results or performance may vary materially from those expressed in, or implied by, any forward-looking statements. None of Woodside nor any of its related bodies corporate, nor any of their respective officers, directors, employees, advisers or representatives, nor any person named in this report or involved in the preparation of the information in this report, makes any representation, assurance, guarantee or warranty (either express or implied) as to the accuracy or likelihood of fulfilment of any forward-looking statement, or any outcomes, events or results expressed or implied in any forward-looking statement in this report. Past performance (including historical financial and operational information) is given for illustrative purposes only. It should not be relied on as, and is not necessarily, a reliable indicator of future performance, including future security prices.
Other important information
All figures are Woodside share for the quarter ending 30 September 2025, unless otherwise stated.
All references to dollars, cents or $ in this report are to US currency, unless otherwise stated.
References to "Woodside" may be references to Woodside Energy Group Ltd and/or its applicable subsidiaries (as the context requires).
Notes to petroleum reserves and resources
1. The petroleum resource estimates are quoted as at the effective date of
30 September 2025, net Woodside share. For details of Woodside's year end
2024 reserves position, see the Reserves and Resources Statement included
in the 2024 Annual Report. US Investors should refer to "Additional
information for US investors concerning reserves and resources estimates"
below.
2. All numbers are internal estimates produced by Woodside. Estimates of
reserves and contingent resources should be regarded only as estimates
that may change over time as additional information becomes available.
3. The reference point is de ned as the outlet of the floating production
storage and offloading facility (FPSO).
4. 'Reserves' are estimated quantities of petroleum that have been
demonstrated to be producible from known accumulations in which the
company has a material interest from a given date forward, at commercial
rates, under presently anticipated production methods, operating
conditions, prices, and costs. Woodside reports reserves inclusive of all
fuel consumed in operations. Woodside estimates and reports its proved
reserves in accordance with SEC regulations which are also compliant with
the 2018 Society of Petroleum Engineers $(SPE)$/World Petroleum Council
$(WPC)$/American Association of Petroleum Geologists $(AAPG)$/Society of
Petroleum Evaluation Engineers (SPEE) Petroleum Resources Management
System (PRMS) (SPE-PRMS) guidelines. SEC-compliant proved reserves
estimates use a more restrictive, rules-based approach and are generally
lower than estimates prepared solely in accordance with SPE-PRMS
guidelines due to, among other things, the requirement to use commodity
prices based on the average of first of month prices during the 12-month
period in the reporting company's fiscal year. Woodside estimates and
reports its proved plus probable reserves in accordance with SPE-PRMS
guidelines which are not compliant with SEC regulations.
5. Assessment of the economic value in support of an SPE-PRMS (2018)
reserves and resources classification, uses Woodside Portfolio Economic
Assumptions (Woodside PEAs). The Woodside PEAs are reviewed on an annual
basis, or more often if required. The review is based on historical data
and forecast estimates for economic variables such as product prices and
exchange rates. The Woodside PEAs are approved by the Woodside Board.
Specific contractual arrangements for individual projects are also taken
into account.
6. Woodside uses both deterministic and probabilistic methods for the
estimation of reserves and contingent resources at the field and project
levels. All proved reserves estimates have been estimated using
deterministic methods and reported on a net interest basis in accordance
with the SEC regulations and have been determined in accordance with SEC
Rule 4-10(a) of Regulation S-X.
7. 'MMboe' means millions (106) of barrels of oil equivalent. Natural gas
volumes are converted to oil equivalent volumes via a constant conversion
factor, which for Woodside is 5.7 Bcf of dry gas per 1 MMboe. All volumes
are reported at standard oilfield conditions of 14.696 psi (101.325 kPa)
and 60 degrees Fahrenheit (15.56 degrees Celsius).
8. 'Proved reserves' are those quantities of crude oil, condensate,
natural gas and NGLs that, by analysis of geoscience and engineering data,
can be estimated with reasonable certainty to be economically producible
from a given date forward from known reservoirs and under existing
economic conditions, operating methods, operating contracts, and
government regulations. Proved reserves are estimated and reported on a
net interest basis in accordance with the SEC regulations and have been
determined in accordance with SEC Rule 4-10(a) of Regulation S-X.
9. 'Undeveloped reserves' are those reserves for which wells and
facilities have not been installed or executed but are expected to be
recovered through future significant investments.
10. 'Probable reserves' are those reserves which analysis of geological and
engineering data suggests are more likely than not to be recoverable.
Proved plus probable reserves represent the best estimate of recoverable
quantities. Where probabilistic methods are used, there is at least a 50%
probability that the actual quantities recovered will equal or exceed the
sum of estimated proved plus probable reserves. Proved plus probable
reserves are estimated and reported in accordance with SPE-PRMS
guidelines and are not compliant with SEC regulations.
11. The estimates of petroleum reserves and contingent resources are based
on and fairly represent information and supporting documentation prepared
by, or under the supervision of, Mr Benjamin Ziker, Woodside's Vice
President Reserves and Subsurface, who is a full-time employee of the
company and a member of the Society of Petroleum Engineers. The reserves
and resources estimates included in this announcement are issued with the
prior written consent of Mr Ziker. Mr Ziker's quali cations include a
Bachelor of Science (Chemical Engineering) from Rice University (Houston,
Texas, USA) and 27 years of relevant experience.
Additional information for US investors concerning resource estimates
Woodside is an Australian company with securities listed on the Australian Securities Exchange and the New York Stock Exchange. As noted above, Woodside estimates and reports its proved reserves in accordance with SEC regulations, which are also compliant with SPE-PRMS guidelines, and estimates and reports its proved plus probable reserves and 2C contingent resources in accordance with SPE-PRMS guidelines. Woodside reports all petroleum resource estimates using definitions consistent with SPE-PRMS.
The SEC prohibits oil and gas companies, in their filings with the SEC, from disclosing estimates of oil or gas resources other than 'reserves' (as that term is defined by the SEC). In this announcement, Woodside includes estimates of quantities of oil and gas using certain terms, such as 'proved plus probable (2P) reserves', 'best estimate (2C) contingent resources', 'reserves and contingent resources', 'proved plus probable', 'developed and undeveloped', 'probable developed', 'probable undeveloped', 'contingent resources' or other descriptions of volumes of reserves, which terms include quantities of oil and gas that may not meet the SEC's definitions of proved, probable and possible reserves, and which the SEC's guidelines strictly prohibit Woodside from including in filings with the SEC. These types of estimates do not represent, and are not intended to represent, any category of reserves based on SEC definitions, and may differ from and may not be comparable to the same or similarly-named measures used by other companies. These estimates are by their nature more speculative than estimates of proved reserves and would require substantial capital spending over a significant number of years to implement recovery, and accordingly are subject to substantially greater risk of not being recovered by Woodside. In addition, actual locations drilled and quantities that may be ultimately recovered from Woodside's properties may differ substantially. Woodside has made no commitment to drill, and likely will not drill, all drilling locations that have been attributable to these quantities. The Reserves Statement presenting Woodside's proved oil and gas reserves in accordance with the regulations of the SEC is filed with the SEC as part of Woodside's annual report on Form 20-F. US investors are urged to consider closely the disclosures in Woodside's most recent Annual Report on Form 20-F filed with the SEC and available on the Woodside website at https://www.woodside.com/investors/reports-investor-briefings and its other filings with the SEC, which are available at www.sec.gov.
Glossary, units of measure and conversion factors
Refer to the Glossary in the Annual Report 2024 for definitions, including carbon related definitions.
Product Unit Conversion factor ------------------- --------- ----------------- Natural gas 5,700 scf 1 boe ------------------- --------- ----------------- Condensate 1 bbl 1 boe ------------------- --------- ----------------- Oil 1 bbl 1 boe ------------------- --------- ----------------- Natural gas liquids 1 bbl 1 boe ------------------- --------- ----------------- Facility Unit LNG Conversion factor ------------------- ------- --------------------- Karratha Gas Plant 1 tonne 8.08 boe ------------------- ------- --------------------- Pluto LNG Gas Plant 1 tonne 8.34 boe ------------------- ------- --------------------- Wheatstone 1 tonne 8.27 boe ------------------- ------- ---------------------
The LNG conversion factor from tonne to boe is specific to volumes produced at each facility and is based on gas composition which may change over time.
Term Definition ------- ------------------------------------------ bbl barrel ------- ------------------------------------------ bcf billion cubic feet of gas ------- ------------------------------------------ boe barrel of oil equivalent ------- ------------------------------------------ GJ gigajoule ------- ------------------------------------------ Mbbl thousand barrels ------- ------------------------------------------ Mbbl/d thousand barrels per day ------- ------------------------------------------ Mboe thousand barrels of oil equivalent ------- ------------------------------------------ Mboe/d thousand barrels of oil equivalent per day ------- ------------------------------------------ Mcf thousand cubic feet of gas ------- ------------------------------------------ MMboe million barrels of oil equivalent ------- ------------------------------------------ MMBtu million British thermal units ------- ------------------------------------------ MMscf/d million standard cubic feet of gas per day ------- ------------------------------------------ Mtpa million tonnes per annum ------- ------------------------------------------ PJ petajoule ------- ------------------------------------------ scf standard cubic feet of gas ------- ------------------------------------------ TJ terajoule ------- ------------------------------------------ Glossary
Refer to the Glossary in the Annual Report for definitions, including carbon related definitions.
(1) Includes a base purchase price of $206 million plus working capital completion adjustments, based on an effective date of 1 January 2025.
(2) The BOTA supply arrangement is subject to the parties entering a binding sales and purchase agreement.
(3) Gas hub indices include Japan Korea Marker (JKM), TTF and National Balancing Point (NBP). It excludes Henry Hub.
(4) Capital expenditure includes the following participating interests; Scarborough (74.9%), Pluto Train 2 (51%) and Trion (60%). It excludes the remaining Beaumont New Ammonia acquisition expenditure and Louisiana LNG expenditure.
(5) The guidance assumes no change to participating interests in 2025.
(6) Lousiana LNG (100% Louisiana LNG LLC and 60% Louisiana LNG Infrastructure LLC) capital expenditure adjusted for the cash contributions from Stonepeak.
(7) Restated to exclude periodic adjustments reflecting the arrangements governing Wheatstone LNG sales of $28 million in Q3 2024 and $14 million in YTD 2024. These amounts will be included within other income/(expenses) in the Financial Statements. Restatement allows for revenue presented in this quarterly report to reconcile to operating revenue, the IFRS measure presented in Woodside Financial Statements.
(8) Q3 2025 includes 0.32 MMboe primarily from feed gas purchased from Pluto non-operating participants processed through the Pluto-KGP Interconnector. Percent change in total production may differ from percent change in daily production due to the number of days in each quarter.
(9) Restated to exclude periodic adjustments reflecting the arrangements governing Wheatstone LNG sales of 0.29 MMboe in Q3 2024 and 0.20 MMboe in YTD 2024. Restatement allows for revenue presented in this quarterly report to reconcile to operating revenue, the IFRS measure presented in Woodside Financial Statements.
(10) Includes capital additions on property plant and equipment, evaluation capitalised and other corporate spend. Exploration capitalised has been reclassified from capital expenditure to other expenditure.
(11) Capital expenditure for Louisiana LNG is presented as a net figure inclusive of cash contributions received from Stonepeak representing its share of the project's capital expenditure to date. Q3 2025 includes a $222 million cash contribution.
(12) Completion of the transaction is subject to conditions precedent.
(13) The transaction is subject to customary conditions precedent (including obtaining regulatory approvals).
(14) Refer to Woodside's Reserves and Resources Statement dated 17 February 2025 for further information on the Bass Strait reserves and resources.
(15) Refer to page 8 of Woodside's Half-Year Report 2025 dated 19 August 2025 and to Notes to petroleum reserves and resources on page 20 for details of disclaimers.
(16) Includes a base purchase price of $206 million plus working capital completion adjustments, based on an effective date of 1 January 2025.
(17) The project has received funding from the Hydrogen Fuelled Transport Project Funding Process as part of the Western Australian Government's Renewable Hydrogen Strategy.
(18) Targets are for net equity Scope 1 and 2 greenhouse gas emissions relative to a starting base of 6.32 Mt CO(2) -e which is representative of the gross annual average equity Scope 1 and 2 greenhouse gas emissions over 2016-2020 and which may be adjusted (up or down) for potential equity changes in producing or sanctioned assets with a final investment decision prior to 2021. Net equity emissions include the utilisation of carbon credits as offsets.
(19) This means net equity Scope 1 and 2 greenhouse gas emissions for the 12-month period ending 31 December 2025 are targeted to be 15% lower than the starting base.
(20) Q3 2025 includes 2.10 MMboe of LNG, 0.09 MMboe of condensate and 0.07 MMboe of NGL processed at the Karratha Gas Plant (KGP) through the Pluto-KGP Interconnector.
(21) Includes the aggregate Woodside equity domestic gas production from all Western Australian projects.
(22) Q3 2025 includes 0.32 MMboe primarily from feed gas purchased from Pluto non-operating participants processed through the Pluto-KGP Interconnector.
(23) Overriding royalty interests held in the USA for several producing wells.
(24) Restated to exclude periodic adjustments reflecting the arrangements governing Wheatstone LNG sales of 0.29 MMboe in Q3 2024 and 0.20 MMboe in YTD 2024. Restatement allows for revenue presented in this quarterly report to reconcile to operating revenue, the IFRS measure presented in Woodside Financial Statements.
(25) Includes the aggregate Woodside equity domestic gas production from all Western Australian projects.
(26) Overriding royalty interests held in the USA for several producing wells.
(27) Purchased volumes sourced from third parties.
(28) Restated to exclude periodic adjustments reflecting the arrangements governing Wheatstone LNG sales of $28 million in Q3 2024 and $14 million in YTD 2024. These amounts will be included within other income/(expenses) in the financial statements. Restatement allows for revenue presented in this quarterly report to reconcile to operating revenue, the IFRS measure presented in Woodside Financial Statements.
(29) Includes the impact of periodic adjustments related to the production sharing contract $(PSC)$.
(30) Overriding royalty interests held in the USA for several producing wells.
(31) Values include revenue generated from purchased LNG and Liquids volumes, as well as the marketing margin on the sale of Woodside's produced LNG and Liquids portfolio. Marketing revenue excludes hedging impacts and cargo swaps where a Woodside produced cargo is sold and repurchased from the same counterparty to optimise the portfolio. The margin for these cargo swaps is recognised net in other income.
(32) Referred to as 'Revenue from sale of hydrocarbons' in Woodside financial statements. Total sales revenue excludes all hedging impacts.
(33) Excludes any additional benefit attributed to produced volumes through third-party trading activities.
(34) Project final investment decisions result in amounts of previously capitalised exploration and evaluation expense (from current and prior years) being transferred to property plant & equipment. This table does not reflect the impact of such transfers.
(35) Other primarily incorporates corporate spend including SAP build costs, other investments and other capital expenditure.
(36) Capital expenditure for Louisiana LNG is presented at 100% working interest equity.
(37) Cash contributions received from Stonepeak represent its share of the project's capital expenditure since the effective date of 1 January 2025.
(38) Acquisition of OCI's Clean Ammonia Project in Beaumont, Texas.
(39) Exploration capitalised has been reclassified from capital expenditure to other expenditure. Exploration capitalised represents expenditure on successful and pending wells, plus permit acquisition costs during the period and is net of well costs reclassified to expense on finalisation of well results.
(40) Includes seismic and general permit activities and other exploration costs.
(41) Well depths are referenced to the rig rotary table.
(42) Awaiting Bureau of Ocean Energy Management approval.
(43) Woodside share reflects the net realised interest for the period.
(44) The Wheatstone asset processes gas from several offshore gas fields, including the Julimar and Brunello fields, for which Woodside has a 65% participating interest and is the operator.
(45) Includes the aggregate Woodside equity domestic gas production from all Western Australian projects.
(46) Woodside share reflects the net realised interest for the period.
(47) Operations governed by production sharing contracts.
This announcement was approved and authorised for release by Woodside's Disclosure Committee.
View source version on businesswire.com: https://www.businesswire.com/news/home/20251021863595/en/
CONTACT: INVESTORS
Vanessa Martin
M: +61 477 397 961
E: investor@woodside.com
MEDIA
Christine Abbott
M: +61 484 112 469
E: christine.abbott@woodside.com
REGISTERED ADDRESS
Woodside Energy Group Ltd
ACN 004 898 962
Mia Yellagonga
11 Mount Street
Perth WA 6000
Australia
T: +61 8 9348 4000
www.woodside.com
(END) Dow Jones Newswires
October 21, 2025 20:41 ET (00:41 GMT)
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