Woodside Energy Reports 28% Increase in Q2 Operating Revenue for 2026
Woodside Energy reported operating revenue of $4.18 billion (A$6.01 billion) for the second quarter of 2026, a 28% increase compared to $3.27 billion during the same period in 2025. The Australian oil and gas company achieved an average realized price of $85 per barrel of oil equivalent (boe), up from $59/boe in Q2 2025, despite a decline in production volumes to 41.3 million boe—a drop of 18% year-over-year. The company’s liquidity stood at approximately $8.2 billion as of June 30, 2026, following the repayment of a $600 million Syndicated Term Loan. Woodside also reported progress on several major projects: Scarborough Energy reached 98% completion and is set to produce its first LNG cargo in Q4 2026; Trion Project stands at 64%, with first oil expected by 2028, while Louisiana LNG was 28% complete. Operational reliability across key assets like Sangomar (99%) and Shenzi exceeded expectations. CEO Liz Westcott highlighted the company’s strong performance in production and asset reliability as contributing to a narrower full-year guidance range for 2026. The resilience of Woodside's diversified portfolio was cited amid ongoing macroeconomic volatility.
Topics: oil prices production volumes project updates revenue