Woodside Energy announced solid Q3 FY2022 results; shares up on ASx

Woodside Energy Group Ltd (ASX: WDS) has released its September 2022 quarter results (Q3 FY2022) for the period ended 30 September 2022.

• During the period, the company produced 51.2 million barrels of oil equivalent (MMboe), up 52% from the second quarter. It was more than twice the level in the corresponding period of last year.
• WDS delivered a record sales volume of 57.1 MMboe, up 59% from Q2 FY2022.
• Revenue improved 70% to $5,858 million from Q2 FY2022.
• Sold 24% of produced LNG at prices linked to gas hub indices.
• The Company upgraded its FY2022 production guidance to range in between 153 – 157 MMboe.

Key Developments in Q3 FY2022:

• Began fabrication of subsea flowlines for the Scarborough and Pluto Train 2 projects in WA.
• It started subsea installation campaign for the Sangomar Field Development offshore Senega.

Key Investments:

• Issued tenders for key scopes of work for the Trion oil development offshore Mexico in groundwork for a possible final investment decision in 2023.
• Entered into long-term marketing contracts to improve exposure to Atlantic Basin LNG as well as offer LNG to the undersupplied European market.
• Got several greenhouse gas assessment licenses for upcoming carbon capture and storage opportunities.
• Granted a deal to buying electrolysers for the planned H2OK hydrogen project in Oklahoma.

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