Woodside Energy posts fall in Q2 revenues

Australian oil and gas producer Woodside Energy reported a fall in second-quarter sales due to weaker commodity prices and ongoing maintenance work, but held production guidance.

Revenue fell to $3.08bn for the three months to June 30, from $3.44bn a year earlier. Woodside produced 44.5 million barrels of oil equivalent (mmboe) in the quarter, up from 33.8 mmboe in 2022.

The average realised liquefied natural gas price fell to $63 per barrel of oil equivalent from $95 a year earlier. Woodside held full-year production and capital expenditure guidance, which included a delay of about half a year and a cost overrun at its Senegal Sangomar project in Africa reported on Tuesday.

Reporting by Frank Prenesti for Sharecast.com