Woodside reports 3% rise in 2025 production to 198.8mboe

Core Insights - Woodside Energy reported a 3% increase in annual production for 2025, reaching 198.8 million barrels of oil equivalent (mboe), surpassing its production guidance of 192–197 mboe [1][4] - The company experienced a 4% decrease in Q4 production compared to the previous quarter, totaling 48.9 mboe, due to seasonal weather conditions and reduced demand [2] - Q4 revenue was $3.03 billion, reflecting a decrease attributed to lower production and realized prices, with an average realized price of $57 per barrel, down 5% from Q3 [2] Production and Financial Performance - Full-year revenue for 2025 was $12.98 billion, a 1% decrease from 2024 [3] - Woodside projects production volumes for 2026 to be between 172 and 186 mboe, including hydrocarbons and Beaumont New Ammonia volumes [3] Leadership and Strategic Developments - Liz Westcott was appointed as acting CEO following the resignation of Meg O'Neill, with a permanent CEO expected to be announced in Q1 2026 [3] - A major turnaround for Pluto LNG Train 1 is planned for Q2 2026, lasting approximately five weeks, with capital expenditure projected between $4 billion and $4.5 billion [4] Project Updates - The Scarborough Energy Project was reported to be 94% complete by the end of 2025, with the floating production unit arriving and hook-up activities commencing, targeting first LNG cargo in Q4 2026 [5] - The Louisiana LNG Project in the US was 22% complete at the end of the quarter, with first LNG production targeted for 2029 [6] - A strategic partnership with Williams was formed, involving the sale of a 10% interest in Louisiana LNG and an 80% interest in Driftwood Pipeline, expected to constitute approximately $1.9 billion in capex [6]