Strong performance from improved production and pricing
Performance highlights
Project highlights
Business and portfolio highlights
Woodside Energy Group (ASX: WDS) (NYSE:WDS):
2026 full-year guidance |
|
Prior |
Current |
Comment |
Total production volumes1 |
MMboe |
174—185 |
174—181 |
|
Gas hub exposure2 |
% |
~30 |
No change |
|
Capital expenditure3 |
$ million |
4,000—4,500 |
No change |
|
Abandonment expenditure |
$ million |
500—800 |
No change |
|
Exploration expenditure |
$ million |
~200 |
No change |
|
Production costs |
$ million |
1,500—1,800 |
No change |
|
Feed gas, services and processing costs |
$ million |
500—600 |
No change |
|
Property, plant and equipment depreciation and amortisation |
$ million |
4,200—4,700 |
No change |
|
Woodside CEO Liz Westcott said the strong third quarter performance reflected the company’s highly reliable operations and disciplined execution of major growth projects.
"Amid ongoing volatility in global energy markets, we have remained a reliable supplier to our customers. Increased quarterly operating revenue reflected increased production and strong realised prices.
"We delivered quarterly production of 46.2 million barrels of oil equivalent, up 12% from the previous quarter following the successful completion of the Pluto LNG turnaround in the second quarter and the NWS turnaround in the third quarter.
"We maintained outstanding reliability across our global portfolio, with reliability of 99.8% at Pluto LNG and 99.3% at the NWS Project in Australia, and 99.2% at Sangomar in Senegal.
"We recorded three process safety events during the quarter. Safety remains our highest priority and we are focused on applying the lessons learned from these incidents and strengthening our controls in this vitally important area.
"We continued executing our major growth projects to budget and schedule. The Scarborough Energy Project is now 99% complete, with gas from the Scarborough reservoir introduced into the FPU and exported into the trunkline during the quarter. We remain on track for first LNG cargo this year.
"The Trion Project is now 71% complete and targeting first oil in 2028. Fabrication of the FPU is well advanced, with integration and pre-commissioning activities underway.
"Louisiana LNG is targeting first LNG in 2029, with construction progressing across all three trains and the project 32% complete.
"We continued to optimise our portfolio through the ongoing integration of the Gippsland Basin assets and divestment of our operated interest in the Calypso Project. Following completion of the Beaumont New Ammonia strategic review, we will now initiate a formal process to reduce our investment and achieve value for our shareholders. These actions demonstrate our disciplined approach to portfolio management and capital allocation, with a clear focus on investments that deliver long-term shareholder value.
"We remain committed to supplying Australia’s domestic gas market and are assessing our plans for four proposed development wells in the Bass Strait. Development will depend on technical assessments and the implications of the Federal Government’s domestic gas reservation scheme."
Comparative performance at a glance |
|
|
Q3 2026 |
Q2
|
Change % |
Q3
|
Change % |
YTD 2026 |
YTD 2025 |
Change % |
Operating revenue |
$ million |
4,281 |
4,185 |
2% |
3,359 |
27% |
11,727 |
9,949 |
18% |
Production volumes4 |
MMboe |
46.2 |
41.3 |
12% |
50.8 |
(9%) |
132.7 |
149.9 |
(11%) |
Gas |
MMscf/d |
1,697 |
1,326 |
28% |
1,827 |
(7%) |
1,534 |
1,831 |
(16%) |
Liquids |
Mbbl/d |
202 |
214 |
(6%) |
231 |
(13%) |
212 |
228 |
(7%) |
Ammonia |
kT/d |
0.8 |
1.8 |
(56%) |
— |
—% |
1.3 |
— |
—% |
Total |
Mboe/d |
503 |
454 |
11% |
552 |
(9%) |
486 |
549 |
(11%) |
Sales volumes5 |
MMboe |
51.1 |
48.0 |
6% |
55.1 |
(7%) |
150.9 |
159.9 |
(6%) |
Gas |
MMscf/d |
2,043 |
1,672 |
22% |
2,122 |
(4%) |
1,910 |
2,049 |
(7%) |
Liquids |
Mbbl/d |
193 |
227 |
(15%) |
226 |
(15%) |
213 |
226 |
(6%) |
Ammonia |
kT/d |
1.0 |
2.1 |
(52%) |
— |
—% |
1.3 |
— |
—% |
Total |
Mboe/d |
555 |
528 |
5% |
599 |
(7%) |
553 |
586 |
(6%) |
Average realised price |
$/boe |
84 |
85 |
(1%) |
60 |
40% |
77 |
61 |
26% |
Capital expenditure and acquisitions |
$ million |
722 |
784 |
(8%) |
1,323 |
(45%) |
2,829 |
3,881 |
(27%) |
Capital expenditure6 |
$ million |
722 |
784 |
(8%) |
1,323 |
(45%) |
2,359 |
3,881 |
(39%) |
Acquisitions |
$ million |
— |
— |
—% |
— |
—% |
470 |
— |
—% |
Operations |
Pluto LNG
North West Shelf Project
Wheatstone and Julimar-Brunello
Bass Strait
Other Australia
Sangomar
Gulf of America
Beaumont New Ammonia
Marketing |
Revenue and trading
Pipeline gas
Projects |
Scarborough Energy Project
Trion
Louisiana LNG
Hydrogen Refueller @H2Perth
Decommissioning |
Development and exploration |
Browse
Sunrise
Calypso
Exploration
Corporate activities |
Cost reduction
Climate and sustainability
Hedging
Embedded commodity derivative
Funding and liquidity
Capital Markets Day
Upcoming events 2026-2027
November |
5 |
2026 Capital Markets Day (Australia) |
12 |
2026 Capital Markets Day (United States) |
|
January |
28 |
Fourth Quarter Report |
February |
23 |
2026 Annual Report |
April |
21 |
First Quarter Report |
Production volumes |
|
|
Q3 2026 |
Q2 2026 |
Q3 2025 |
YTD 2026 |
YTD 2025 |
Gas |
MMscf/d |
1,697 |
1,326 |
1,827 |
1,534 |
1,831 |
Liquids |
Mbbl/d |
202 |
214 |
231 |
212 |
228 |
Ammonia |
kT/d |
0.8 |
1.8 |
– |
1.3 |
– |
Total production volumes |
Mboe/d |
503 |
454 |
552 |
486 |
549 |
Production (reserves)
|
|
Q3 2026 |
Q2 2026 |
Q3 2025 |
YTD 2026 |
YTD 2025 |
AUSTRALIA |
|
|
|
|
|
|
LNG |
|
|
|
|
|
|
North West Shelf |
Mboe |
5,646 |
5,491 |
5,895 |
16,815 |
17,665 |
Pluto10 |
Mboe |
12,516 |
7,701 |
12,118 |
31,208 |
33,272 |
Wheatstone |
Mboe |
1,338 |
1,454 |
2,677 |
5,078 |
7,523 |
Total |
Mboe |
19,500 |
14,646 |
20,690 |
53,101 |
58,460 |
|
|
|
|
|
|
|
Pipeline gas |
|
|
|
|
|
|
Bass Strait |
Mboe |
4,416 |
3,440 |
3,929 |
10,612 |
10,774 |
Other10,11 |
Mboe |
2,862 |
2,510 |
3,830 |
7,880 |
11,450 |
Total |
Mboe |
7,278 |
5,950 |
7,759 |
18,492 |
22,224 |
|
|
|
|
|
|
|
Crude oil and condensate |
|
|
|
|
|
|
North West Shelf |
Mbbl |
1,054 |
949 |
1,093 |
2,956 |
3,111 |
Pluto10 |
Mbbl |
889 |
602 |
980 |
2,336 |
2,717 |
Wheatstone |
Mbbl |
239 |
271 |
471 |
937 |
1,331 |
Bass Strait |
Mbbl |
552 |
477 |
505 |
1,371 |
1,364 |
Macedon & Pyrenees |
Mbbl |
263 |
169 |
347 |
793 |
1,274 |
Ngujima-Yin |
Mbbl |
659 |
684 |
960 |
1,996 |
2,769 |
Okha |
Mbbl |
7 |
- |
575 |
318 |
1,474 |
Total |
Mboe |
3,663 |
3,152 |
4,931 |
10,707 |
14,040 |
|
|
|
|
|
|
|
NGL |
|
|
|
|
|
|
North West Shelf |
Mbbl |
216 |
191 |
258 |
588 |
695 |
Pluto10 |
Mbbl |
45 |
28 |
58 |
112 |
152 |
Bass Strait |
Mbbl |
772 |
761 |
842 |
2,163 |
2,263 |
Total |
Mboe |
1,033 |
980 |
1,158 |
2,863 |
3,110 |
|
|
|
|
|
|
|
Total Australia |
Mboe |
31,474 |
24,728 |
34,538 |
85,163 |
97,834 |
Mboe/d |
342 |
272 |
375 |
312 |
358 |
|
|
Q3 2026 |
Q2 2026 |
Q3 2025 |
YTD 2026 |
YTD 2025 |
INTERNATIONAL |
|
|
|
|
|
|
Pipeline gas |
|
|
|
|
|
|
USA |
Mboe |
358 |
405 |
491 |
1,209 |
1,278 |
Trinidad & Tobago |
Mboe |
- |
- |
242 |
- |
4,863 |
Other12 |
Mboe |
- |
- |
6 |
9 |
34 |
Total |
Mboe |
358 |
405 |
739 |
1,218 |
6,175 |
|
|
|
|
|
|
|
Crude oil and condensate |
|
|
|
|
|
|
Atlantis |
Mbbl |
2,424 |
2,526 |
2,783 |
7,671 |
7,859 |
Mad Dog |
Mbbl |
2,710 |
2,704 |
2,310 |
8,172 |
7,357 |
Shenzi |
Mbbl |
1,667 |
1,859 |
2,088 |
5,422 |
6,431 |
Trinidad & Tobago |
Mbbl |
- |
- |
13 |
- |
205 |
Sangomar |
Mbbl |
6,758 |
7,854 |
7,516 |
21,764 |
21,922 |
Other12 |
Mbbl |
35 |
35 |
5 |
124 |
5 |
Total |
Mboe |
13,594 |
14,978 |
14,715 |
43,153 |
43,779 |
|
|
|
|
|
|
|
NGL |
|
|
|
|
|
|
USA |
Mbbl |
276 |
370 |
442 |
1,159 |
1,238 |
Other12 |
Mbbl |
- |
- |
3 |
5 |
18 |
Total |
Mboe |
276 |
370 |
445 |
1,164 |
1,256 |
|
|
|
|
|
|
|
Total International |
Mboe |
14,228 |
15,753 |
15,899 |
45,535 |
51,210 |
Mboe/d |
155 |
173 |
173 |
167 |
188 |
|
|
|
|
|
|
|
|
Total production (reserves) volumes |
Mboe |
45,702 |
40,481 |
50,437 |
130,698 |
149,044 |
Mboe/d |
497 |
445 |
548 |
479 |
546 |
Production (processing)
|
|
Q3 2026 |
Q2 2026 |
Q3 2025 |
YTD 2026 |
YTD 2025 |
AUSTRALIA |
|
|
|
|
|
|
Pluto-KGP Interconnector13 |
|
|
|
|
|
|
LNG |
Mboe |
254 |
171 |
210 |
667 |
583 |
Pipeline gas |
Mboe |
- |
- |
91 |
- |
253 |
Crude oil and condensate |
Mbbl |
8 |
6 |
9 |
23 |
28 |
NGL |
Mbbl |
5 |
3 |
7 |
12 |
17 |
Total Australia |
Mboe |
267 |
180 |
317 |
702 |
881 |
Mboe/d |
3 |
2 |
3 |
3 |
3 |
|
|
|
|
|
|
|
|
INTERNATIONAL |
|
|
|
|
|
|
Beaumont New Ammonia14 |
Mboe |
266 |
609 |
- |
1,292 |
- |
Total International |
Mboe |
266 |
609 |
- |
1,292 |
- |
Mboe/d |
3 |
7 |
- |
5 |
- |
|
|
|
|
|
|
|
|
Total production (processing) volumes |
Mboe |
533 |
789 |
317 |
1,994 |
881 |
Mboe/d |
6 |
9 |
3 |
7 |
3 |
|
|
|
|
|
|
|
|
Total production volumes |
Mboe |
46,235 |
41,270 |
50,754 |
132,692 |
149,925 |
Mboe/d |
503 |
454 |
552 |
486 |
549 |
Sales volumes |
|
|
Q3 2026 |
Q2 2026 |
Q3 2025 |
YTD 2026 |
YTD 2025 |
Gas |
MMscf/d |
2,043 |
1,672 |
2,122 |
1,910 |
2,049 |
Liquids |
Mbbl/d |
193 |
227 |
226 |
213 |
226 |
Ammonia |
kT/d |
1.0 |
2.1 |
– |
1.3 |
– |
Total sales volumes |
Mboe/d |
555 |
528 |
599 |
553 |
586 |
|
|
Q3 2026 |
Q2 2026 |
Q3 2025 |
YTD 2026 |
YTD 2025 |
AUSTRALIA |
|
|
|
|
|
|
LNG |
|
|
|
|
|
|
North West Shelf |
Mboe |
5,630 |
3,922 |
4,743 |
17,016 |
16,689 |
Pluto |
Mboe |
13,146 |
9,011 |
13,609 |
34,062 |
35,254 |
Wheatstone |
Mboe |
1,967 |
1,995 |
1,623 |
6,578 |
7,186 |
Total |
Mboe |
20,743 |
14,928 |
19,975 |
57,656 |
59,129 |
|
|
|
|
|
|
|
Pipeline gas |
|
|
|
|
|
|
Bass Strait |
Mboe |
4,277 |
3,736 |
4,070 |
10,579 |
10,989 |
Other15 |
Mboe |
3,152 |
2,756 |
4,028 |
8,406 |
11,445 |
Total |
Mboe |
7,429 |
6,492 |
8,098 |
18,985 |
22,434 |
|
|
|
|
|
|
|
Crude oil and condensate |
|
|
|
|
|
|
North West Shelf |
Mbbl |
651 |
1,300 |
1,194 |
2,633 |
3,039 |
Pluto |
Mbbl |
775 |
1,011 |
1,338 |
2,978 |
2,693 |
Wheatstone |
Mbbl |
92 |
427 |
417 |
787 |
1,402 |
Bass Strait |
Mbbl |
593 |
619 |
531 |
1,740 |
1,664 |
Ngujima-Yin |
Mbbl |
690 |
963 |
1,171 |
2,322 |
2,985 |
Okha |
Mbbl |
- |
- |
- |
251 |
1,256 |
Macedon & Pyrenees |
Mbbl |
- |
511 |
496 |
512 |
1,493 |
Total |
Mboe |
2,801 |
4,831 |
5,147 |
11,223 |
14,532 |
|
|
|
|
|
|
|
NGL |
|
|
|
|
|
|
North West Shelf |
Mbbl |
- |
473 |
430 |
473 |
907 |
Pluto |
Mbbl |
- |
93 |
105 |
93 |
215 |
Bass Strait |
Mbbl |
874 |
437 |
374 |
2,177 |
1,610 |
Total |
Mboe |
874 |
1,003 |
909 |
2,743 |
2,732 |
|
|
|
|
|
|
|
Total Australia |
Mboe |
31,847 |
27,254 |
34,129 |
90,607 |
98,827 |
Mboe/d |
346 |
299 |
371 |
332 |
362 |
|
|
Q3 2026 |
Q2 2026 |
Q3 2025 |
YTD 2026 |
YTD 2025 |
INTERNATIONAL |
|
|
|
|
|
|
Pipeline gas |
|
|
|
|
|
|
USA16 |
Mboe |
361 |
413 |
438 |
1,160 |
1,246 |
Trinidad & Tobago |
Mboe |
- |
- |
243 |
- |
4,750 |
Other17 |
Mboe |
45 |
3 |
4 |
51 |
12 |
Total |
Mboe |
406 |
416 |
685 |
1,211 |
6,008 |
|
|
|
|
|
|
|
Crude oil and condensate |
|
|
|
|
|
|
Atlantis |
Mbbl |
2,400 |
2,544 |
2,801 |
7,672 |
7,901 |
Mad Dog |
Mbbl |
2,605 |
2,780 |
2,310 |
8,118 |
7,415 |
Shenzi |
Mbbl |
1,415 |
1,870 |
2,094 |
5,179 |
6,326 |
Trinidad & Tobago |
Mbbl |
- |
- |
5 |
- |
181 |
Sangomar |
Mbbl |
6,932 |
6,865 |
6,833 |
20,619 |
20,859 |
Other17 |
Mbbl |
130 |
67 |
47 |
286 |
151 |
Total |
Mboe |
13,482 |
14,126 |
14,090 |
41,874 |
42,833 |
|
|
|
|
|
|
|
NGL |
|
|
|
|
|
|
USA |
Mbbl |
254 |
389 |
440 |
1,165 |
1,196 |
Other17 |
Mbbl |
29 |
1 |
2 |
32 |
6 |
Total |
Mboe |
283 |
390 |
442 |
1,197 |
1,202 |
|
|
|
|
|
|
|
Ammonia |
|
|
|
|
|
|
Beaumont New Ammonia18 |
Mboe |
346 |
702 |
- |
1,297 |
- |
Total |
Mboe |
346 |
702 |
- |
1,297 |
- |
|
|
|
|
|
|
|
Total International |
Mboe |
14,517 |
15,634 |
15,217 |
45,579 |
50,043 |
Mboe/d |
158 |
172 |
165 |
167 |
183 |
|
|
|
|
|
|
|
|
MARKETING19 |
|
|
|
|
|
|
LNG |
Mboe |
4,389 |
4,856 |
5,492 |
13,645 |
10,579 |
Liquids |
Mboe |
341 |
298 |
249 |
1,023 |
417 |
Total |
Mboe |
4,730 |
5,154 |
5,741 |
14,668 |
10,996 |
|
|
|
|
|
|
|
Total Marketing |
Mboe |
4,730 |
5,154 |
5,741 |
14,668 |
10,996 |
|
|
|
|
|
|
|
Total sales volumes |
Mboe |
51,094 |
48,042 |
55,087 |
150,854 |
159,866 |
Mboe/d |
555 |
528 |
599 |
553 |
586 |
Operating revenue (US$ million) |
|
Q3 2026 |
Q2 2026 |
Q3 2025 |
YTD 2026 |
YTD 2025 |
AUSTRALIA |
|
|
|
|
|
North West Shelf |
479 |
378 |
323 |
1,305 |
1,153 |
Pluto |
1,121 |
795 |
1,000 |
2,682 |
2,539 |
Wheatstone |
189 |
167 |
135 |
536 |
589 |
Bass Strait |
380 |
352 |
265 |
964 |
776 |
Macedon |
56 |
57 |
44 |
169 |
148 |
Ngujima-Yin |
73 |
102 |
88 |
223 |
231 |
Okha |
- |
2 |
- |
27 |
90 |
Pyrenees |
- |
45 |
37 |
45 |
120 |
Revenue from sale of products |
2,298 |
1,898 |
1,892 |
5,951 |
5,646 |
Intersegment revenue |
(53) |
(51) |
(67) |
(154) |
(76) |
Processing and services revenue |
34 |
35 |
39 |
122 |
148 |
Total Australia |
2,279 |
1,882 |
1,864 |
5,919 |
5,718 |
|
|
|
|
|
|
INTERNATIONAL |
|
|
|
|
|
Atlantis |
215 |
258 |
196 |
672 |
568 |
Mad Dog |
227 |
272 |
150 |
689 |
501 |
Shenzi |
120 |
192 |
142 |
450 |
447 |
Trinidad & Tobago20 |
- |
- |
6 |
- |
150 |
Sangomar |
659 |
763 |
477 |
1,946 |
1,468 |
Other21 |
44 |
145 |
2 |
231 |
9 |
Revenue from sale of products |
1,265 |
1,630 |
973 |
3,988 |
3,143 |
Total International |
1,265 |
1,630 |
973 |
3,988 |
3,143 |
|
|
|
|
|
|
MARKETING |
|
|
|
|
|
Revenue from sale of products |
672 |
620 |
452 |
1,652 |
996 |
Intersegment revenue |
53 |
51 |
67 |
154 |
76 |
Shipping and other revenue |
12 |
2 |
3 |
14 |
16 |
Total Marketing22 |
737 |
673 |
522 |
1,820 |
1,088 |
|
|
|
|
|
|
Operating revenue23 |
4,281 |
4,185 |
3,359 |
11,727 |
9,949 |
Realised prices |
|
Units |
Q3 2026 |
Q2 2026 |
Q3 2025 |
Units |
Q3 2026 |
Q2 2026 |
Q3 2025 |
LNG produced |
$/MMBtu |
13.3 |
10.5 |
9.5 |
$/boe |
84 |
66 |
60 |
LNG traded24 |
$/MMBtu |
16.6 |
15.2 |
11.2 |
$/boe |
108 |
99 |
71 |
Pipeline gas: |
|
|
|
|
|
|
|
|
Western Australia |
A$/GJ |
6.9 |
6.9 |
6.8 |
|
|
|
|
East Coast Australia |
A$/GJ |
15.3 |
15.7 |
12.9 |
|
|
|
|
International25 |
$/Mcf |
2.6 |
3.0 |
3.6 |
|
|
|
|
Pipeline gas |
|
|
|
|
$/boe |
49 |
50 |
38 |
Oil and condensate |
$/bbl |
93 |
107 |
68 |
$/boe |
93 |
107 |
68 |
NGL |
$/bbl |
52 |
57 |
41 |
$/boe |
52 |
57 |
41 |
Liquids traded24 |
$/bbl |
71 |
110 |
60 |
$/boe |
71 |
110 |
60 |
Average realised price |
$/boe |
84 |
85 |
60 |
|
|
|
|
Dated Brent |
$/bbl |
97 |
105 |
69 |
|
|
|
|
JCC (lagged three months) |
$/bbl |
111 |
67 |
75 |
|
|
|
|
WTI |
$/bbl |
86 |
93 |
65 |
|
|
|
|
JKM |
$/MMBtu |
18.9 |
17.5 |
12.5 |
|
|
|
|
TTF |
$/MMBtu |
18.0 |
16.4 |
11.7 |
|
|
|
|
Capital expenditure (US$ million) |
|
Q3 2026 |
Q2 2026 |
Q3 2025 |
YTD 2026 |
YTD 2025 |
Evaluation capitalised26 |
12 |
15 |
8 |
36 |
37 |
Property plant & equipment |
1,738 |
1,557 |
1,530 |
4,981 |
5,902 |
Cash contributions from participants |
(1,029) |
(878) |
(222) |
(2,754) |
(2,092) |
Other27 |
1 |
90 |
7 |
96 |
34 |
Capital expenditure |
722 |
784 |
1,323 |
2,359 |
3,881 |
Acquisitions |
- |
- |
- |
470 |
- |
Total capital expenditure and acquisitions |
722 |
784 |
1,323 |
2,829 |
3,881 |
|
Q3 2026 |
Q2 2026 |
Q3 2025 |
YTD 2026 |
YTD 2025 |
Scarborough |
186 |
290 |
361 |
751 |
1,016 |
Trion |
267 |
275 |
291 |
713 |
698 |
Louisiana LNG capital expenditure |
967 |
723 |
498 |
2,562 |
3,153 |
Cash contributions from participants |
(1,029) |
(878) |
(222) |
(2,754) |
(2,092) |
Louisiana LNG other27 |
7 |
26 |
- |
38 |
- |
Louisiana LNG28 |
(55) |
(129) |
276 |
(154) |
1,061 |
Other |
324 |
348 |
395 |
1,049 |
1,106 |
Capital expenditure |
722 |
784 |
1,323 |
2,359 |
3,881 |
Other expenditure (US$ million) |
Exploration and evaluation expenditure |
Q3 2026 |
Q2 2026 |
Q3 2025 |
YTD 2026 |
YTD 2025 |
Exploration capitalised26,29 |
3 |
2 |
17 |
45 |
22 |
Exploration and evaluation expensed30 |
63 |
50 |
46 |
163 |
127 |
Permit amortisation |
2 |
2 |
2 |
6 |
5 |
Total |
68 |
54 |
65 |
214 |
154 |
|
|
|
|
|
|
Trading costs |
Q3 2026 |
Q2 2026 |
Q3 2025 |
YTD 2026 |
YTD 2025 |
Australia |
83 |
52 |
71 |
184 |
159 |
International |
14 |
- |
- |
14 |
- |
Marketing |
407 |
533 |
374 |
1,278 |
696 |
Total |
504 |
585 |
445 |
1,476 |
855 |
|
|
|
|
|
|
Abandonment expenditure |
Q3 2026 |
Q2 2026 |
Q3 2025 |
YTD 2026 |
YTD 2025 |
Total |
172 |
139 |
141 |
427 |
658 |
Exploration or appraisal wells drilled |
Region |
Permit
|
Well |
Target |
Interest (%) |
Spud date |
Water
|
Actual
|
Remarks |
Egypt |
Tiba |
Nasim-1X |
Gas |
40% Non-operator |
25 August
|
-1 |
2,650 |
Drilling,
|
Permits and licences |
Key changes to permit and licence holdings during the quarter ended 30 September 2026 are noted below.
Region |
Permits or licence areas |
Change in
|
Current
|
Remarks |
United States |
AC 125, AC 126 |
(45%) |
—% |
Assigned |
GB 721, GC 598, AC 36, AC 80, AC 81 |
(100%) |
—% |
Relinquished |
|
EB 682 |
100% |
100% |
Awarded |
Production rates |
Average daily production rates (100% project) for the quarter ended 30 September 2026:
|
Woodside share32 |
Production rate
|
Remarks |
|
|
|
Q3
|
Q2
|
|
AUSTRALIA |
|
|
|
|
NWS Project |
|
|
|
|
LNG |
29.17% |
210 |
203 |
Increased production driven by reliability and wells returned to service. |
Crude oil and condensate |
29.26% |
39 |
35 |
|
NGL |
29.36% |
8 |
7 |
|
|
|
|
|
|
Pluto LNG |
|
|
|
|
LNG |
90.00% |
124 |
75 |
Production higher following planned maintenance turnaround in Q2. |
Crude oil and condensate |
90.00% |
10 |
7 |
|
|
|
|
|
|
Pluto-KGP Interconnector |
|
|
|
|
LNG |
100.00% |
28 |
19 |
Production higher due to major turnaround in Q2 which impacted feed gas. |
Crude oil and condensate |
100.00% |
1 |
1 |
|
NGL |
100.00% |
1 |
– |
|
|
|
|
|
|
Wheatstone33 |
|
|
|
|
LNG |
6.00% |
243 |
204 |
Julimar Brunello production lower due to impact of offshore project activities. |
Crude oil and condensate |
8.12% |
32 |
28 |
|
|
|
|
|
|
Bass Strait |
|
|
|
|
Pipeline gas |
48.95% |
98 |
83 |
Production higher due to seasonal increases in demand. |
Crude oil and condensate |
43.61% |
14 |
12 |
|
NGL |
44.96% |
19 |
18 |
|
|
|
|
|
|
Australia Oil |
|
|
|
|
Ngujima-Yin |
60.00% |
12 |
13 |
Okha reconnected late in Q3. |
Okha |
50.00% |
– |
– |
|
Pyrenees |
71.43% |
4 |
3 |
|
|
|
|
|
|
Other |
|
|
|
|
Pipeline gas34 |
|
31 |
28 |
|
|
|
|
|
|
|
Woodside share35 |
Production rate
|
Remarks |
|
|
|
Q3 2026 |
Q2 2026 |
|
INTERNATIONAL |
|
|
|
|
Atlantis |
|
|
|
|
Crude oil and condensate |
38.50% |
68 |
72 |
Production lower due to higher planned and unplanned events. |
NGL |
38.50% |
3 |
5 |
|
Pipeline gas |
38.50% |
7 |
8 |
|
|
|
|
|
|
Mad Dog |
|
|
|
|
Crude oil and condensate |
20.86% |
141 |
142 |
|
NGL |
20.86% |
5 |
5 |
|
Pipeline gas |
20.86% |
4 |
3 |
|
|
|
|
|
|
Shenzi |
|
|
|
|
Crude oil and condensate |
64.55% |
28 |
32 |
Production lower because of planned shutdown and well interventions. |
NGL |
64.65% |
1 |
2 |
|
Pipeline gas |
64.64% |
1 |
1 |
|
|
|
|
|
|
Sangomar |
|
|
|
|
Crude oil |
78.01%36 |
94 |
99 |
Production lower due to natural field decline. |
|
|
|
|
|
Beaumont New Ammonia |
|
|
|
|
Ammonia37 |
100.00% |
3 |
7 |
Production lower due to unplanned event. |
|
|
|
|
|
Disclaimer and important notice |
Forward looking statements
This report contains forward-looking statements. These statements may relate to Woodside’s business, goals, targets, aspirations, plans, expectations, market conditions, results of operations and financial condition, including but not limited to, statements regarding the timing, completion and outcomes of transactions, construction costs and capital expenditures, supply and demand for Woodside’s products, development, completion and execution of Woodside’s projects, the expected benefits, cash flows and rates of return or other future results of investments, strategies and transactions, 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, production costs and other costs, capital expenditure, abandonment expenditure, exploration expenditure and gas hub exposure, trends in commodity prices and currency exchange rates, adoption and implementation of new technologies and expectations regarding the achievement of Woodside’s Scope 1 and 2 greenhouse gas emissions target (in each case on a net equity or gross equity basis as specified) 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 "aim", "anticipate", "aspire", "believe", "enable", "estimate", "expect", "forecast", "foresee", "guidance", "intend", "likely", "may", "objective", "outlook", "pathway", "plan", "position", "potential", "project", "schedule", "seek", "should", "strategy", "strive", "target", "will" and other similar words or expressions.
Forward-looking statements in this report are not guarantees 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 the assumptions on which they are based include, but are not limited to, fluctuations in commodity prices, actual demand for Woodside 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, pace of technology developments, sustainability and environmental risks, climate related transition and physical risks, safety and personnel risks, changes in accounting standards, economic and financial markets conditions in various countries and regions, the actions of third parties, project delay or advancement, regulatory approvals, political risks and 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 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, 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 factors" 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.
Investors are strongly cautioned that forward-looking statements are subject to significant uncertainties and may not prove to be correct. 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. 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, neither Woodside, 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 intends to, undertakes to, or assumes 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 or results, changes in Woodside’s expectations or otherwise. Past performance (including historical financial and operational information) is given for illustrative purposes only. It is not necessarily a reliable indicator of future performance, including future security prices.
Other important information
Unless otherwise stated, all:
Glossary, units of measure and conversion factors |
Refer to the Glossary in the Half-Year Report 2026 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 |
Ammonia |
1 metric tonne |
3.68 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 |
kT |
thousand metric tonnes |
kT/d |
thousand metric tonnes per day |
NGL |
natural gas liquid |
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 |
1 Total production volumes includes 1.5—2.5 MMboe from Beaumont New Ammonia (prior guidance included 2—3 MMboe).
2 Gas hub indices include Japan Korea Marker (JKM), Title Transfer Facility (TTF) and National Balancing Point. It excludes Henry Hub. Presented on a 3-year average for 2026—2028. Includes binding sales and purchases agreements only, Woodside’s equity share of Scarborough and Pluto LNG, Corpus Christi offtake volumes and assumes the Chevron asset swap is completed.
3 Capital expenditure is reported on the basis of Woodside’s net ownership interests for each project as at 30 September 2026. Louisiana LNG (90% Louisiana LNG LLC, 60% Louisiana LNG Infrastructure LLC and 20% Driftwood Pipeline LLC) capital expenditure adjusted for the cash contributions from Stonepeak Wallaby I Acquiror LP (Stonepeak) and Williams Louisiana LNG LLC (Williams). Scarborough (74.9% participating interest) and Pluto Train 2 (51% participating interest). Trion (60% participating interest). Excludes the final acquisition completion payment for Beaumont New Ammonia of $470 million. Completion of the asset swap with Chevron assumed to occur in Q4 2026.
4 Percent change in total production may differ from percent change in daily production due to the number of days in each quarter.
5 Restated additional volumes of 0.09 MMboe in Q3 2025 and 0.28 MMboe in YTD 2025 to reflect a revised MMBtu to boe conversion factor.
6 Louisiana LNG YTD 2026 project spend includes $185 million of prepayments recognised in investing cash flow that are recoverable through partner cash calls but are not yet recognised as capital expenditure.
7 Completion of the transaction is subject to the remaining conditions precedent. See "Woodside simplifies portfolio and unlocks long-term value" announced on 19 December 2024.
8 The project has received funding from the Hydrogen Fuelled Transport Project Funding Process as part of the Western Australian Government’s Renewable Hydrogen Strategy.
9 Completion of the transaction is subject to the remaining conditions precedent. See "Woodside rationalises global portfolio with Calypso divestment".
10 Feed gas volumes purchased from Pluto non-operating participants processed through the Pluto-KGP Interconnector are reported under Production (processing). Comparatives have been restated on the same basis.
11 Includes the aggregate Woodside equity domestic gas production from all Western Australian projects.
12 Overriding royalty interests held in the USA for several producing wells.
13 Feed gas volumes purchased from Pluto non-operating participants processed through the Pluto-KGP Interconnector, and represents 10% of Pluto-KGP Interconnector volumes.
14 Beaumont New Ammonia production volume is 72.4 kT in Q3 2026 and 351.3 kT in YTD 2026.
15 Includes the aggregate Woodside equity domestic gas production from all Western Australian projects.
16 Restated additional volumes of 0.09 MMboe in Q3 2025 and 0.28 MMboe in YTD 2025 to reflect a revised MMBtu to boe conversion factor.
17 Overriding royalty interests held in the USA for several producing wells.
18 Beaumont New Ammonia sales volumes are 94.2 kT in Q3 2026 and 352.5 kT YTD 2026.
19 Purchased volumes sourced from third parties.
20 Includes the impact of periodic adjustments related to the production sharing contract (PSC).
21 Includes revenue from Beaumont New Ammonia and overriding royalty interests held in the USA for several producing wells.
22 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.
23 Operating revenue excludes all hedging impacts.
24 Excludes any additional benefit attributed to produced volumes through third-party trading activities.
25 Sales volumes have been restated to reflect volumes sold in MMBtu at a revised boe conversion factor impacting realised price by -$0.6/Mcf for International pipeline gas in Q3 2025.
26 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.
27 Other incorporates Louisiana LNG cash call payments to Williams for Driftwood Pipeline LLC, corporate spend, other investments and other capital expenditure.
28 Louisiana LNG YTD 2026 project spend includes $185 million of prepayments recognised in investing cash flow that are recoverable through partner cash calls but are not yet recognised as capital expenditure.
29 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.
30 Includes seismic and general permit activities and other exploration costs.
31 Well depths are referenced to the rig rotary table.
32 Woodside share reflects the net realised interest for the period.
33 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.
34 Includes the aggregate Woodside equity domestic gas production from all Western Australian projects.
35 Woodside share reflects the net realised interest for the period.
36 Operations governed by production sharing contracts.
37 Beaumont New Ammonia production rate was 0.8 kT/d in Q3 2026.
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/20261020593595/en/
INVESTORS
Vanessa Martin
M: +61 477 397 961
E: investor@woodside.com
MEDIA
Dan Pagoda
M: +61 482 675 731
E: dan.pagoda@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