Woodside Energy 1Q Output Drops on Quarter Due to Maintenance

Woodside Energy(WDS.US)

22.430

22.250

-0.44%

-0.80%

Post

By David Winning

SYDNEY-- $Woodside Energy(WDS.US)$ said planned turnaround and maintenance activities drove a 9% drop in first-quarter production of oil and natural gas compared to the final three months of 2022.

Woodside said it produced 46.8 million barrels of oil equivalent in the three months through March after carrying out a planned turnaround of its Ngujima-Yin floating production storage and offloading unit, along with other maintenance.

Still, quarterly output was more than double levels of a year earlier due to the contribution of petroleum assets purchased from BHP Group Ltd.

Woodside said its sales revenue totalled US$4.33 billion in the first quarter, down 16% on the final three months of 2022 as a result of weaker output and lower realized prices.

The company said it achieved a portfolio average realized price of US$85 per barrel of oil equivalent in the first quarter.

Turning to its growth developments, Woodside said the Scarborough and Pluto Train 2 natural-gas projects in Western Australia are now 30% complete, and it is evaluating competitive tenders for the Trion project in Mexico.

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Woodside said it produced 46.8 million barrels of oil equivalent in the three months through March after carrying out a planned turnaround of its Ngujima-Yin floating production storage and offloading unit, along with other maintenance. Still, quarterly output was more than double levels of a year earlier due to the contribution of petroleum assets purchased from BHP Group Ltd. Woodside said its sales revenue totalled US$4.33 billion in the first quarter, down 16% on the final three months of 2022 as a result of weaker output and lower realized prices. The company said it achieved a portfolio average realized price of US$85 per barrel of oil equivalent in the first quarter. Turning to its growth developments, Woodside said the Scarborough and Pluto Train 2 natural-gas projects in Western Australia are now 30% complete, and it is evaluating competitive tenders for the Trion project in Mexico.","highlighted":1,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/9944429344","repostId":0,"isVote":1,"tweetType":1,"viewCount":164,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":992,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/9944429344"}