Australian independent oil and gas company Woodside Energy's total output grew for the April-June quarter though its LNG production declined.
Woodside produced 551,000 b/d of oil equivalent (boe/d) in the quarter, up from 488,000 boe/d a year earlier, as its liquids output surged 46pc on the year to 230,000 b/d from 157,000 b/d in April-June 2024.
The company's 80pc-owned Sangomar oil project offshore Senegal contributed 101,000 b/d at close to 100pc reliability. Field output is expected to decline in the July-September quarter, after 12 months or so of all wells being online. Woodside is assessing data to decide on the project's future development.
LNG production across Woodside's portfolio fell 9pc on the year (see table) in the April-June quarter. For the January-June half, total gas output was down 4pc on the year.
Woodside permanently retired a train at the North West Shelf (NWS) LNG project in Western Australia (WA) state. The 2.5mn t/yr train 2 was permanently retired during the April-June quarter, after being taken offline in late 2024 due to declining feedstock. The now four-train facility's nameplate capacity has been reduced to 14.3mn t/yr from 16.9mn t/yr, Woodside said.
Production at its WA assets fell in the January-March quarter of 2025 partly because of impacts from Cyclone Zelia.
The 1.1mn t/yr Beaumont New Ammonia project in the US state of Texas is 95pc complete and is targeting first output in late 2025, while the $12.5bn Scarborough LNG project offshore WA is 86pc complete. Trion, the company's deepwater oilfield offshore Mexico is 35pc complete. Construction of the floating storage and offloading vessel is expected to start in the second half of 2025.
Woodside's 1 t/d Hydrogen Refueller @H2Perth project is expecting first production in the first half of 2026, with electrolysers and compressors now installed at Rockingham south of WA's capital Perth.
Woodside slightly lowered its 2025 production guidance to 188-195mn boe, from 186-196mn boe to take into account the sale of its Greater Angostura fields in Trinidad and Tobago. Woodside had acquired the fields after merging with BHP Petroleum in 2022.
Full-year unit production cost guidance has been cut to $8-8.5/boe, from $8.5-9.2 due to a focus on cost control.
The company warned that multiple, complex decommissioning operations were underway in Australia with works at the Minerva, Stybarrow and Griffin assets requiring higher-than-expected expenditure and further engineering. Woodside expects a $400-500mn cost to be recorded in its first half results to 30 June, which will be released on 19 August.
| Woodside LNG production (mn boe) | ||||
| NWS | Pluto | Wheatstone* | Total | |
| Apr-Jun '25 | 5.4 | 11.1 | 2.4 | 18.9 |
| Jan-Mar '25 | 6.4 | 10.4 | 2.4 | 19.2 |
| Apr-Jun '24 | 7.1 | 11.7 | 2.0 | 20.8 |
| Jan-Jun '25 | 11.8 | 21.5 | 4.8 | 38.1 |
| Jan-Jun '24 | 15.3 | 23.5 | 4.3 | 43.1 |
| y-o-y % ± | -24 | -5 | 20 | -9 |
| q-o-q % ± | -16 | 7 | 0 | -2 |
| *Woodside controls a 13pc interest in Wheatstone LNG | ||||
| Source: Woodside | ||||
