Woodside's revenue jumps 78% in Q4
Australian gas producer Woodside on January 25 reported a 77.6% year/year jump in revenue in Q4 thanks to higher gas and LNG prices.
The Q4 revenue climbed to $$5.16bn, from $2.91bn in the same quarter last year. Total sales revenue increased to $5.10bn from $2.85bn in the prior year. The company's realised price in Q4 was $98/barrel of oil equivalent (boe), up from $90/boe a year ago.
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Woodside CEO Meg O’Neill said production in the fourth quarter was a record 51.6mn boe, up 128.3% yr/yr.
“The result lifted output for calendar 2022 to 157.7mn boe, surpassing guidance and marking the highest annual production in Woodside’s history,” she said.
Woodside said that the Scarborough and Pluto Train 2 projects in Western Australia are now 25% complete, with the manufacturing of the export trunkline 59% complete and the commencement of module construction for Pluto Train 2.
Looking ahead, Woodside said its production guidance for full-year 2023 remains 180mn to 190mn boe.