Woodside Energy pushes higher after posting record Q3 revenues, production

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Woodside Energy (NYSE:WDS) +4.2% in Thursday's trading after reporting record quarterly revenues of $5.86B, up 70% Q/Q, and production of 557K boe/day, up 52% Q/Q, thanks in part to strong natural gas prices.

The Q3 results reflected the first full three months of contribution from the former BHP petroleum business.

Australia's largest oil and gas producer said Q3's strong operational performance across its portfolio prompted an upgrade of full-year production guidance to 153M-157M boe.

Work on the company's major projects progressed to plan during the quarter, noting the first stage of the Pluto Train 2 construction accommodation village in Karratha has been completed and fabrication of the subsea flowlines for the development of Scarborough commenced.

Overall, the Scarborough and Pluto Train 2 projects combined were 21% complete at the end of the quarter and remain on track for targeted first liquefied natural gas cargo in 2026, the company said.

Woodside Energy's (WDS) stock price return shows a 35% YTD gain and a 14% increase during the past year.