- Woodside Energy Group (WDS, Financial) reports $3,315 million revenue for Q1 2025, marking a 13% increase from Q1 2024.
- Sangomar field significantly boosts production with 78,000 barrels per day at 97.6% reliability.
- Major projects progress on schedule, with the Beaumont New Ammonia Project at 90% completion.
Woodside Energy Group Ltd (WDS) has announced its first-quarter 2025 results, reporting a revenue of $3,315 million. This reflects a 5% decline from the preceding quarter but an impressive 13% growth compared to Q1 2024. The revenue increase from the previous year is attributed to the start-up of the Sangomar project and robust gas hub-linked prices.
Production at the Sangomar field has been noteworthy, achieving 78,000 barrels per day with a reliability rate of 97.6%, sustaining production at plateau levels throughout the quarter. This exceptional production is a testament to Woodside's operational efficiency and strategic planning.
In their pursuit of project excellence, Woodside has retained all major initiatives on schedule and within budget. The Beaumont New Ammonia Project is approaching complete fruition at 90% and is anticipated to commence operations in the second half of 2025. The Scarborough Energy Project and the Trion Project have reached 82% and 26% completion, respectively, with key milestones set for the coming years.
Strategically, Woodside has successfully entered into significant partnerships, including LNG supply agreements with Uniper, guaranteeing up to two million tonnes annually. Additionally, the company has finalized the sale of a 40% interest in Louisiana LNG Infrastructure to Stonepeak, securing a $5.7 billion capital contribution to accelerate the project's development.
