By Digifin Pty Ltd · About this coverage
Key Points
- Production of 46.2 MMboe, up 12% on Q2 2026
- Operating revenue of $4,281 million with realised LNG price of $84/boe
- 2026 production guidance narrowed to 174-181 MMboe
- Scarborough 99% complete and on track for first LNG cargo this year
- Formal process to reduce investment in Beaumont New Ammonia
About Woodside (ASX:WDS)
Woodside Energy Group Ltd is an ASX-listed oil and gas company headquartered in Perth. It produces liquefied natural gas, pipeline gas, condensate and crude oil, with operations centred on the North West Shelf and Pluto in Western Australia and international assets including Sangomar in Senegal and interests in the United States Gulf of Mexico. The company reports in US dollars and its shares are also listed on the New York Stock Exchange.
Woodside (ASX:WDS)'s third-quarter report shows production recovering after second-quarter maintenance, narrows full-year production guidance, and confirms Scarborough remains on track for first LNG cargo this year.
Figures are in US dollars. Production was 46.2 MMboe (503 Mboe/d), up 12% on Q2 2026 on higher Pluto LNG output after turnaround and maintenance, but 9% below Q3 2025. Operating revenue was $4,281 million, up 2% on Q2, with a realised LNG price of $84/boe, up 27%, partly offset by lower average realised pricing from the liquids portfolio. Full-year production guidance narrows to 174-181 MMboe from 174-185 MMboe, reflecting revised Beaumont New Ammonia volumes of 1.5-2.5 MMboe, reduced production at Okha FPSO and a narrower window for Scarborough first LNG cargo. Capital expenditure guidance is unchanged at $4,000-4,500 million. Scarborough was 99% complete, Trion 71% complete and targeting first oil in 2028, and Louisiana LNG 32% complete and targeting first LNG in 2029, each on budget. Woodside agreed to sell its 70% operated interest in the Calypso Project to bp and will initiate a formal process to reduce its investment in Beaumont New Ammonia.
Beaumont New Ammonia suspended operations for approximately 30 days after a Tier 1 process safety event. Plans for four proposed Bass Strait development wells depend on technical assessments and the domestic gas reservation scheme.
Source: Woodside Energy Group Ltd (ASX:WDS), 21 October 2026. Summary content supplied by Digifin Pty Ltd.
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