Woodside Says Higher LNG Prices Will Boost Earnings
Australia's Woodside Energy said elevated spot prices for liquefied natural gas are expected to lift earnings in coming quarters because of lagged contract pricing. The company reported quarterly operating revenue of $3.261 billion, production of 45.2 million barrels of oil equivalent and sales of 51.7 million barrels of oil equivalent, and said offshore facilities at the Pluto LNG plant had restarted safely after Severe Tropical Cyclone Mitchell.
Woodside said production had been partially restored at Wheatstone and Julimar-Brunello, with normal operations expected by the end of April. The Scarborough project remains on track for first LNG cargo in the fourth quarter of 2026, while the transfer of Bass Strait operatorship from ExxonMobil Australia is targeted for the second half of 2026. Woodside also said Louisiana LNG continues to attract counterparties as it pursues a sell-down, with first cargo targeted for 2029, and that oil rates at Sangomar are expected to taper through the rest of 2026.
From the sources (5 posts)
@firstsquawkWOODSIDE ENERGY POSTED QUARTERLY OPERATING REVENUE OF $3,261 MILLION, WITH PRODUCTION VOLUMES OF 45.2 MMBOE AND SALES VOLUMES OF 51.7 MMBOE, AND CONFIRMED THE SAFE RESTART OF OFFSHORE FACILITIES AT THE PLUTO LNG PLANT FOLLOWING SEVERE TROPI
@firstsquawkWOODSIDE ENERGY FLAGGED THAT FURTHER UPSIDE FROM PREVAILING ELEVATED SPOT PRICES WILL FILTER INTO LNG EARNINGS IN UPCOMING QUARTERS DUE TO LAGGED CONTRACT PRICING, NOTED THAT COMPLETION OF THE TRANSFER OF BASS STRAIT OPERATORSHIP FROM EXXON
@firstsquawkWOODSIDE ENERGY: PRODUCTION HAS BEEN PARTIALLY RESTORED AT WHEATSTONE AND JULIMAR-BRUNELLO, WITH A RETURN TO NORMAL OPERATIONS ANTICIPATED BY THE END OF APRIL, WHILE THE SCARBOROUGH ENERGY PROJECT REMAINS ON COURSE TO DELIVER ITS FIRST LNG
@firstsquawkWOODSIDE ENERGY: OWING TO DELAYS AT THIRD-PARTY INDUSTRIAL GAS SUPPLIERS, THE COMPANY IS NOW TARGETING 2027 FOR LOWER-CARBON AMMONIA PRODUCTION AT BEAUMONT NEW AMMONIA.
@businessAustralia’s Woodside says it expects stronger prices for liquefied natural gas to boost its earnings in coming quarters due to time lags in its supply contracts