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

  • Beaumont New Ammonia volumes revised to 1.5-2.5 MMboe
  • Narrowing of window for Scarborough first LNG cargo
  • Reduced production at Okha FPSO
  • Completion of start-up and performance testing of Julimar Development Phase 3 in September

 

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

2026

Change

%

Q3

2025

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

area

Well

Target

Interest (%)

Spud date

Water

depth (m)

Actual

well depth

(m)31

Remarks

Egypt

Tiba

Nasim-1X

Gas

40% Non-operator

25 August

2026

-1

2,650

Drilling,

onshore

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

interest (%)

Current

interest (%)

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

(100% project, Mboe/d)

Remarks

 

 

Q3

2026

Q2

2026

 

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

(100% project, Mboe/d)

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.

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