Woodside reports record Q4 sales revenue
Australian energy producer Woodside’s sales revenue in Q4 hit a record $2.85bn thanks to higher product prices, it said on January 20. The company had reported revenue of $920mn a year ago.
The LNG revenue in Q4 was $2.35bn, up from $607mn in the same period of last year. The average realised LNG price during the quarter was $93/boe, up 232% year/year.
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“The upward trajectory in global oil and gas prices resulted in a portfolio realised price of $90 per barrel of oil equivalent and a strong realised LNG price of $93 per barrel of oil equivalent. This increase in realised price demonstrates the continued strong demand for LNG and improvement in the trading environment over the course of 2021,” CEO Meg O’Neill said.
Woodside said the BHP merger deal is expected to be completed by June this year. The company added it will pursue secondary listings on the New York Stock Exchange and the London Stock Exchange, with a primary listing retained on the Australian Securities Exchange.
The Perth-based company expects 2022 production to be between 92mn boe and 98mn boe compared with 2021 output of 91.1mn boe. Total investment spending this year is expected to be between $3.8bn and $4.2bn as against $3bn in 2021.