Woodside Energy Group Ltd (AU:WDS) has released an update.
Woodside Energy Group reported a 7% drop in production in Q1 2024 compared to the previous quarter, attributing the decrease to lower outputs at several sites, partially mitigated by increased production at Mad Dog Phase 2. Revenue also fell by 12% due to a combination of lower realized prices and volumes. Despite these challenges, the company made significant strides in its growth projects, with the Sangomar project nearing completion and first oil expected mid-year, while the Scarborough and Pluto Train 2 projects are on schedule to deliver their first LNG cargo in 2026.
For further insights into AU:WDS stock, check out TipRanks’ Stock Analysis page.
