Woodside Energy Releases Full-Year 2025 Results

Core Insights - Woodside Energy Group reported record production of 198.8 million barrels of oil equivalent (MMboe) for the full year 2025, achieving a daily production rate of 545 Mboe [1] - Despite record production, net profit after tax (NPAT) decreased by 24% to $2,718 million, and underlying NPAT fell by 8% to $2,649 million due to lower realized prices [1] - The company declared a final dividend of US 59 cents per share, bringing the total fully franked dividend for the year to US 112 cents per share, maintaining a payout ratio of 80% [1] Financial Performance - Operating revenue for FY25 was $12,984 million, a slight decrease of 1% from FY24 [2] - EBITDA remained stable at $9,277 million, showing no change from the previous year [2] - Operating cash flow increased by 23% to $7,192 million, while free cash flow rose significantly to $1,889 million, a 745% increase from FY24 [2] Production and Operations - Sangomar achieved production at nameplate capacity of 100,000 barrels per day with nearly 99% reliability, contributing $2.6 billion in EBITDA since startup [1] - The Louisiana LNG project reached a final investment decision with a total capital expenditure now expected to be $9.9 billion, reduced from the initial $17.5 billion due to new partnerships [1][2] - The Scarborough Energy Project was reported to be 94% complete by year-end, with first LNG cargo expected in Q4 2026 [1] Environmental and Safety Achievements - Woodside achieved a 15% reduction in net equity Scope 1 and 2 greenhouse gas emissions compared to the starting base, meeting its 2025 target [2] - The company recorded zero high-consequence injuries across its global operations, marking significant safety milestones [1][2] Strategic Developments - Woodside successfully issued $3.5 billion in US bonds, which were oversubscribed, indicating strong interest from debt capital markets [2] - The company refined its portfolio through the divestment of Greater Angostura and progressed with a Chevron asset swap [2] - Strategic partnerships were established with Stonepeak and Williams for the Louisiana LNG project, enhancing capital expenditure management [2]