On Friday, 21 April 2023, the first quarter report for the period ended 31 March 2023 was released. The report highlighted the company's commitment, WoodSide Energy Group Ltd (ASX: WDS), to delivering reliable production, executing major projects, and investing in growth. Despite a 9% decrease in quarterly production due to planned turnaround and maintenance activities, the company delivered 46.8 MMboe (520 Mboe/day) and maintained full-year production guidance.
Sales volume also decreased by 4% to 50.4 MMboe, while revenue decreased by 16% to AU$4,330 million, both primarily due to lower production and lower realized prices. The company experienced significant growth in production, sales volume, and revenue, with a remarkable increase of 122%, 112%, and 81%, respectively, from Q1 2022. This was attributed to the expanded operations portfolio post-merger. Additionally, the portfolio achieved exceptional reliability rates for liquefied natural gas (LNG) at Pluto LNG and North West Shelf (NWS) Project, recording 99.9% and 98.3%, respectively. The portfolio's average realized price for a barrel of oil equivalent was AU$85.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
