Categories: Wire Stories

Woodside Energy Group Announces Second Quarter Report for Period Ended 30 June 2022

Performance

  • Delivered production of 33.8 MMboe, up 60% from Q1 2022.
  • Delivered sales volume of 35.8 MMboe, up 51% from Q1 2022.
  • Delivered average realised price of $95 per barrel of oil equivalent.
  • Delivered revenue of $3,438 million, up 44% from Q1 2022.

Highlights

  • Completed the merger with BHP�s petroleum business on 1 June.
  • Changed company name to Woodside Energy Group Ltd.
  • Commenced trading on the New York Stock Exchange on 2 June and the London Stock Exchange on 6 June under the ticker ‘WDS’.

PERTH, Australia–(BUSINESS WIRE)–Woodside Energy CEO Meg O’Neill said production and revenue in the second quarter rose 60% and 44% respectively from the first three months of 2022, helped by the contribution from BHP’s petroleum business.

“Production for the period was 33.8 million barrels of oil equivalent, while revenue climbed to $3,438 million on the back of a 51% increase in sales volume to 35.8 million barrels of oil equivalent.

“The completion on 1 June of our merger with BHP’s petroleum business was the highlight of the period, transforming Woodside into a top 10 global independent energy producer by hydrocarbon production, and making us the largest energy company listed on the Australian Securities Exchange.

“Woodside received a net cash payment from BHP Group of approximately $1.1 billion, which included the cash remaining in the bank accounts of BHP Petroleum immediately prior to completion.

“The merger was overwhelmingly endorsed by Woodside’s shareholders at our Annual General Meeting in May, and they are now seeing first evidence of the increased financial and operational strength the transaction will deliver.

“The subsequent listings of Woodside shares on the New York and London stock exchanges were historic moments for the company, reflecting our more diverse shareholder base.

“Significant progress was made on our key projects during the quarter. All major equipment items for Scarborough have been procured and construction has begun at the Pluto Train 2 site.

“First steel for Scarborough’s floating production unit topsides was cut, pipeline manufacturing is 25% progressed and the subsea trees for initial start-up of the project are all complete.

“Installation of the mooring system for the floating production, storage and offloading facility at the Sangomar field has been completed and the second drillship, the Ocean BlackHawk, commenced drilling in July.

“Following extensive discussions with potential new partners, we have decided to discontinue the sell-down of equity in Sangomar.

“In Australia, accelerated Pluto gas transported through the Pluto-Karratha Gas Plant Interconnector has resulted in additional LNG production and sales of uncontracted cargoes in a high-priced market.

“Lambert Deep, a component of the Greater Western Flank Phase 3 project, achieved ready for start-up in July,” she said.

Comparative performance at a glance

 

 

Q2 2022

Q1 2022

Change %

Q2 2021

Change %

Production

MMboe

33.8

21.1

60.2

22.7

49.1

Sales

 

MMboe

35.8

23.8

50.8

28.1

27.4

Revenue

$ million

3,438

2,395

43.6

1,327

159.1

Production was 60.2% higher and sales volume was 50.8% higher than the previous quarter primarily due to the inclusion from 1 June 2022 of the BHP petroleum assets, following the completion of the merger.

Reserves and production reporting

  • Woodside’s production reporting and reserves statement are being updated to include the assets acquired as part of the BHP Petroleum (BHPP) merger, and to apply a consistent methodology and conversion factors across the combined portfolio. The updated reserves statement is expected to be released on 30 August 2022.
  • All gas products for production and reserves will be reported in barrels of oil equivalent (boe) and calculated from a volumetric basis with a conversion factor of 5,700 standard cubic feet (scf) per boe. BHPP previously used 6,000 scf per boe. Woodside’s production reporting previously used product-specific conversion factors on an energy basis.
  • Production and sales volumes for Q1 2022 have been restated using the updated conversion factors. There is no impact on revenue as a result of the change in conversion factors.

Woodside and BHP Petroleum merger

  • The merger of Woodside and BHP’s petroleum business completed on 1 June 2022 following Woodside shareholder approval on 19 May 2022.
  • On completion, Woodside:
    • acquired the entire share capital of BHP Petroleum International Pty Ltd and issued 914,768,948 new Woodside shares to BHP
    • received net cash of approximately $1.1 billion, which included the cash remaining in BHPP bank accounts immediately prior to completion. All completion payments are subject to a customary post-completion review which may result in an adjustment.
  • Trading commenced on 2 June 2022 under the ticker WDS of:
    • the new Woodside shares on the Australian Securities Exchange (ASX), and
    • Woodside depository shares on the New York Stock Exchange (NYSE).
  • Trading commenced on 6 June 2022 of Woodside shares on the Main Market for listed securities of the London Stock Exchange (LSE), also under the ticker WDS.
  • The merger has created a top 10 global independent energy producer by hydrocarbon production on a combined 2021 basis and the largest energy company listed on the ASX.1

______________

1 Woodside analysis of independent energy companies excludes government-backed national oil companies, companies with free float less than 60%, major integrated oil and gas companies and Canadian oil sands companies.

Development activities

Scarborough and Pluto Train 2

  • All major equipment items for both the Scarborough floating production unit (FPU) and Pluto Train 2, including compressors, generators and turbines, have been procured.
  • Construction works for Pluto Train 2 have commenced at the Pluto LNG site in Western Australia.
  • Fabrication of the FPU topsides commenced in June 2022, manufacturing of the pipeline was 25% progressed and the subsea trees for initial start-up are all complete.
  • Approval was granted in June 2022 under section 45C of the Environmental Protection Act 1986 (WA) to increase the diameter of the Scarborough trunkline within State waters from 32 inches to 36 inches.
  • Assessment by regulators of secondary environmental approvals continues for offshore execution activities.
  • The sell-down process for equity in the Scarborough Joint Venture is progressing.

Sangomar Field Development Phase 1

  • The Sangomar Field Development Phase 1 was 63% complete at the end of the period.
  • Installation of the mooring system in the Sangomar field for the floating production storage and offloading (FPSO) facility was successfully completed in July 2022.
  • The development drilling program is progressing and the second drillship, the Ocean BlackHawk, commenced drilling in July 2022.
  • The FPSO is expected to be relocated in October 2022 from the current shipyard in China to the Keppel Shipyard in Singapore to complete commissioning.
  • The subsea installation campaign is planned to commence in Q3 2022.
  • Woodside is ending the current sell-down process for Sangomar.

Mad Dog Phase 2

  • Mad Dog Phase 2 includes the installation of a new floating production facility with production capacity of up to 140,000 gross barrels of oil equivalent per day (Woodside interest: 23.9%).
  • The hook-up and commissioning program of the Argos platform topsides is proceeding, with a successful wells campaign nearing completion.
  • An issue with two of the production flexible joints was detected during testing. This is being assessed and an update on whether the expected project start-up in 2022 is impacted will be provided in due course.

Trion

  • Trion is a greenfield deepwater oil development located in the Mexican waters of the western Gulf of Mexico. Front-end engineering design (FEED) activities are continuing with a focus on optimising the development and execution plan, cost, and schedule.
  • Woodside is targeting a potential final investment decision (FID) in 2023.

Wildling

  • Wildling is a 2-well tieback opportunity to the Shenzi tension leg platform (TLP) in the central Gulf of Mexico.
  • Drilling of appraisal well SJ101 commenced in May 2022 and is now complete. The well encountered sub-commercial quantities of hydrocarbons and was plugged and abandoned. Woodside does not plan to pursue any further Wildling development activities in Blocks GC564 or GC520.

Operational overview

  • Woodside achieved a significant increase in production in the second quarter of 2022 compared to the prior quarter.
  • This increased production was in large part due to:
    • the addition of the BHPP assets from 1 June 2022, following completion of the merger. Production volumes more than doubled from May 2022 with the BHPP assets contributing 53% of total production volumes in June 2022
    • a full quarter of accelerated Pluto production processed at North West Shelf (NWS) through the Pluto-KGP Interconnector following start-up in March 2022
    • increased production from the Ngujima-Yin FPSO following maintenance and weather impacts in the first quarter of 2022.

This was partly offset by lower production at NWS and Wheatstone compared to the prior quarter due to scheduled turnaround activities.

Pyxis Hub

  • The drilling and completions campaign for the Xena field, which is phase 2 of the Pyxis Hub project, has commenced and ready for start-up (RFSU) remains on track for H2 2022.
  • The Pyxis Hub project was 90% complete at the end of the period.

Greater Western Flank Phase 3 (GWF-3)

  • GWF-3 (including Lambert Deep) is a subsea tie-back opportunity to further commercialise NWS reserves.
  • The subsea installation program is complete and the GWF-3 wells started-up in May 2022.
  • Lambert Deep achieved RFSU in July 2022.
  • The project was 98% complete at the end of the period.

NWS Extension

  • In June 2022, the Western Australian Environmental Protection Authority (EPA) released its public report on the NWS Project Extension proposal.
  • The EPA’s report recommends that the NWS Project Extension proposal may be implemented subject to key environmental conditions being met. The proposal remains subject to approval by the WA Minister for Environment.
  • The NWS Project Extension Greenhouse Gas Management Plan includes emissions reduction targets of 15% reduction by 2025, 30% reduction by 2030, and net zero emissions by 2050.2 These emissions reduction targets will be achieved by avoiding emissions where possible, reducing emissions and finally through offsetting emissions.

______________

2 The emission reductions in the NWS Project Extension Greenhouse Gas Management Plan are determined off a baseline of 7.7 Mtpa CO2-e, as per existing State approvals for Karratha Gas Plant.

Bass Strait

  • An offshore fuel gas pipeline was redirected in June 2022 to increase production capacity from 970 terajoules to 1,020 terajoules per day (100%). This enabled Woodside to supply additional gas into the eastern Australian domestic gas market.
  • The Gippsland Basin Joint Venture (GBJV) is progressing a feasibility study of the potential development of a south-east Australian carbon capture and storage hub (SEA CCS) to support the decarbonisation goals of the GBJV participants, other local industry, and the Victorian and Commonwealth Governments. SEA CCS aims to utilise existing infrastructure to capture and store up to 2 MtCO2 per year in the depleted Bream reservoir located offshore Victoria.

Shenzi North

  • Shenzi North is a two-well subsea tieback to the Shenzi TLP, with production capacity of up to 30,000 gross barrels of oil equivalent per day (Woodside interest: 72%).
  • The Deepwater Invictus drillship is expected to commence drilling the second development well of the Shenzi North project in 2022.
  • The Shenzi North project is targeting first oil in 2024.

Shenzi Subsea Multi-Phase Pump

  • The Shenzi subsea multi-phase pump was installed and commissioned during a planned Shenzi TLP shutdown in April-May 2022 and achieved start-up ahead of schedule. The pump is expected to improve recovery from existing producing wells and future infill wells.

New energy

H2Perth

  • Woodside has updated the proposed H2Perth development concept to increase ammonia production in the initial phase from 0.6 Mtpa to 0.84 Mtpa.
  • Environmental studies to support H2Perth were progressed which included flora and fauna, greenhouse gas management, heritage, groundwater sampling, discharge modelling, air, noise, emissions management, traffic modelling and visual impact assessment.
  • A pre-FEED contract was awarded to McDermott for the proposed H2Perth project.

H2NZ

  • Woodside Energy has been selected as one of two companies to enter final stage negotiations to become the lead developer of the Southern Green Hydrogen project in Southland, New Zealand.
  • Southern Green Hydrogen is a joint project by Meridian Energy and Contact Energy, to evaluate the opportunity to produce green hydrogen in Southland, New Zealand.

Investment in lower-carbon services

  • Subsequent to the period, Woodside agreed to invest US$9.9 million in String Bio Private Limited (String Bio), the developer of a patented process for recycling greenhouse gases into products such as livestock feed. The investment is subject to conditions precedent.
  • Woodside and String Bio have entered a strategic development agreement to explore opportunities for the potential commercial scale-up of String Bio technology.

Technology

  • Woodside committed A$10 million in financial and in-kind support to its innovation partner, Curtin University in Perth, Western Australia, after it was selected by the Australian Government to be part of the Trailblazer University Program.

Corporate activities

Half-year results

  • Woodside’s Half-year Report 2022 and the associated investor briefing will be released to the market on Tuesday, 30 August 2022. It will also be available on Woodside’s website at www.woodside.com.
  • An investor briefing conference call will take place on 30 August at 07.30 AWST / 09.30 AEST / 18:30 CDT (Monday 29 August). Log-in information for the conference call will be published on Woodside’s website prior to 30 August 2022.

Change of company name and ticker code

  • Woodside shareholders approved the change of company name to Woodside Energy Group Ltd at Woodside’s 2022 Annual General Meeting.
  • The new company name was registered on 20 May 2022 and the ticker code on the ASX changed from WPL to WDS on 25 May 2022. In June 2022, Woodside commenced trading on the LSE and NYSE also under the ticker code WDS.

Financial reporting

  • Woodside’s net profit after tax for the first half of 2022, including sales revenue and the associated production and sales volumes, will incorporate the contribution of the BHPP portfolio from completion of the merger on 1 June 2022.
  • Woodside’s reporting in the half-year 2022 financial statements is expected to be represented under four segments to align with the company’s management and business structure; Australia, International, Marketing and Corporate/Other.
  • Woodside’s consolidated statement of financial position as at 30 June 2022 will include the fair value of the former BHPP assets and liabilities and any associated goodwill after the allocation of the merger purchase price.

Hedging

  • Woodside continues to review its hedging program, subject to market conditions.
  • As at 30 June 2022, Woodside has placed oil price hedges for:
    • approximately 17.5 MMboe of 2022 production at an average price of $74.6 per barrel of which approximately 5.8 MMboe has been delivered; and
    • approximately 21.8 MMboe of 2023 production at an average price of $74.5 per barrel.
  • In addition, a number of hedges have been entered into for Corpus Christi volumes to protect against downside pricing risk. These hedges are Henry Hub and Title Transfer Facility (TTF) commodity swaps. As a result of hedging and term sales, approximately 94% of Corpus Christi volumes in 2022, approximately 73% in 2023 and approximately 27% of 2024 have reduced pricing risk.3

______________

3 As at 30 June 2022.

Syndicate facility renewal

  • Subsequent to the period, Woodside refinanced and increased an existing committed undrawn syndicated facility. The total amount of the undrawn syndicated facilities is $2 billion.

Merger synergies

  • The merger is expected to unlock annual pre-tax synergies of more than $400 million on a 100% basis, which are expected to be fully implemented by early 2024. Woodside is planning to provide an update on the progress of synergy identification and capture as part of the half-year 2022 results.

2022 full-year guidance

 

PRODUCTION4

 

 

LNG

MMboe

77 – 79

Pipeline gas

MMboe

27 – 29

Crude and condensate

MMboe

36 – 40

Natural gas liquids

MMboe

~5

Total

MMboe

145 – 153

CAPITAL EXPENDITURE5

 

 

Sangomar6

%

~25%

Scarborough and Pluto Train 27

%

~45%

Other growth8

%

~10%

Base business9

%

~20%

Total capital expenditure

$ million

4,300 – 4,800

EXPLORATION EXPENDITURE5

 

 

Exploration

$ million

400 – 500

2022 GAS HUB EXPOSURE

 

Portfolio

% of produced LNG

20-25%

______________

4 Woodside’s previous production range was 92-98 MMboe. Woodside’s production range, excluding the former BHPP assets and updated for the new conversion factors, would result in a range of 88-94 MMboe.

5 Capital and exploration expenditure related to former BHPP assets included from 1 June 2022.

6 Sangomar represents 82% participating interest.

7 Scarborough represents 100% participating interest (from 1 June 2022). Pluto Train 2 represents 51% participating interest. Excludes the benefit of Global Infrastructure Partners’ additional contribution of approximately $800 million for Pluto Train 2.

8 Other growth includes primarily Shenzi North, Mad Dog Phase 2, Trion, New Energy and Browse.

9 Base business includes Pluto LNG, NWS, Gulf of Mexico (Atlantis, Shenzi, Mad Dog), Bass Strait, Wheatstone, Macedon, Pyrenees, Ngujima-Yin, Okha, Trinidad & Tobago and Corporate.

Half-year 2022 line-item guidance

 

 

 

 

Comments

Depreciation and amortisation expense

 

 

 

Oil and gas properties

$ million

700 – 1,100

 

Other plant and equipment

$ million

10 – 30

 

Lease assets

$ million

40 – 80

 

 

 

 

 

Other cost of sales

 

 

 

Movement in onerous contract provision benefit

$ million

~(200)

Unwind and derecognition of the provision for Corpus Christi.

 

 

 

 

Other costs

 

 

 

General, administrative and other costs

$ million

500 – 650

Includes merger transaction costs of ~$420 million.

 

 

 

 

Taxes

 

 

 

Income tax

$ million

800 – 1,100

 

PRRT

$ million

225 – 525

 

 

 

 

 

Contacts:    

INVESTORS

 

Australia & Europe | Damien Gare

W: +61 8 9348 4421

M: +61 417 111 697

 

Americas | Matthew Turnbull

M: +1 (713) 448-0956

 

E: investor@woodside.com

   

MEDIA

 

Christine Forster

M: +61 484 112 469

E: christine.forster@woodside.com

 

 

 

 

This ASX announcement was approved and authorised for release by Woodside’s Disclosure Committee.

Production summary

 

Three months ended

Year to date

Jun

2022

Mar

202210

Jun

2021

Jun

2022

Jun

2021

AUSTRALIA

 

 

 

 

 

LNG

 

 

 

 

 

 

North West Shelf

Mboe

5,826

4,612

5,134

10,438

11,033

Pluto11

Mboe

12,328

9,326

10,235

21,654

19,796

Wheatstone

Mboe

1,645

2,408

2,550

4,053

5,435

Total

Mboe

19,799

16,346

17,919

36,145

36,264

 

 

 

 

 

 

 

Pipeline gas

 

 

 

 

 

 

Bass Strait

Mboe

2,353

2,353

Other12

Mboe

1,692

753

617

2,445

1,302

Total

Mboe

4,045

753

617

4,798

1,302

 

 

 

 

 

 

 

Crude oil and condensate

 

 

 

 

 

 

North West Shelf

Mbbl

1,104

806

824

1,910

1,827

Pluto11

Mbbl

967

745

779

1,712

1,511

Wheatstone

Mbbl

277

421

572

698

1,277

Bass Strait

Mbbl

441

441

Ngujima-Yin

Mbbl

2,275

1,398

1,578

3,673

3,284

Okha

Mbbl

444

425

240

869

616

Pyrenees

Mbbl

223

223

Total

Mboe

5,731

3,795

3,993

9,526

8,515

 

 

 

 

 

 

 

NGL13

 

 

 

 

 

 

North West Shelf

Mbbl

228

181

121

409

252

Pluto11

Mbbl

60

6

66

Bass Strait

Mbbl

503

503

Total

Mboe

791

187

121

978

252

 

 

 

 

 

 

 

Total Australia

Mboe

30,366

21,081

22,650

51,447

46,333

______________

10 Production and sales volumes in boe for Q1 2022 have been restated using updated conversion factors, referenced on page 18.

11 Q2 2022 includes 2.51 MMboe of LNG, 0.10 MMboe of condensate and 0.04 MMboe of LPG and Q1 2022 includes 0.35 MMboe of LNG and 0.01 MMboe of condensate processed at the Karratha Gas Plant (KGP) through the Pluto-KGP Interconnector.

12 Includes the aggregate Woodside equity domestic gas production from all Western Australian projects.

13 Natural gas liquids (NGL) includes LPG, ethane, propane and butane.

 

Three months ended

Year to date

Jun

2022

Mar

202214

Jun

2021

Jun

2022

Jun

2021

INTERNATIONAL

 

 

 

 

 

 

Pipeline gas

 

 

 

 

 

 

Atlantis

Mboe

87

87

Mad Dog

Mboe

10

10

Shenzi

Mboe

25

25

Trinidad & Tobago

Mboe

829

829

Total

Mboe

951

951

 

 

 

 

 

 

 

Crude oil and condensate

 

 

 

 

 

 

Atlantis

Mbbl

987

987

Mad Dog

Mbbl

411

411

Shenzi

Mbbl

765

765

Trinidad & Tobago

Mbbl

150

150

Other15

Mbbl

27

27

Total

Mboe

2,340

2,340

 

 

 

 

 

 

 

NGL16

 

 

 

 

 

 

Atlantis

Mbbl

66

66

Mad Dog

Mbbl

16

16

Shenzi

Mbbl

37

37

Total

Mboe

119

119

 

 

 

 

 

 

 

Total International

Mboe

3,410

3,410

 

 

 

 

 

 

 

Total production

Mboe

33,776

21,081

22,650

54,857

46,333

______________

14 Production and sales volumes in boe for Q1 2022 have been restated using updated conversion factors, referenced on page 18.

15 Overriding royalty interests held in the Gulf of Mexico (GOM) for several producing wells.

16 Natural gas liquids (NGL) include LPG, ethane, propane and butane.

Product sales

 

 

 

Three months ended

Year to date

 

 

Jun

2022

Mar

202217

Jun

2021

Jun

2022

Jun

2021

AUSTRALIA

 

 

 

 

 

 

LNG

 

 

 

 

 

 

North West Shelf

Mboe

5,616

5,012

5,052

10,628

10,851

Pluto18

Mboe

11,094

9,433

10,594

20,527

20,128

Wheatstone19

Mboe

1,464

2,521

2,311

3,985

4,675

Total

Mboe

18,174

16,966

17,957

35,140

35,654

 

 

 

 

 

 

 

Pipeline gas

 

 

 

 

 

 

Bass Strait

Mboe

2,194

2,194

Other

Mboe

1,629

748

602

2,377

1,294

Total

Mboe

3,823

748

602

4,571

1,294

 

 

 

 

 

 

 

Crude oil and condensate

 

 

 

 

 

 

North West Shelf

Mbbl

1,018

618

649

1,636

1,331

Pluto18

Mbbl

1,828

472

585

2,300

1,170

Wheatstone

Mbbl

354

289

642

643

1,394

Bass Strait

Mbbl

333

333

Ngujima-Yin

Mbbl

2,436

1,336

1,666

3,772

3,273

Okha

Mbbl

619

810

619

810

Pyrenees

Mbbl

Total

Mboe

6,588

2,715

4,352

9,303

7,978

 

 

 

 

 

 

 

NGL20

 

 

 

 

 

 

North West Shelf

Mbbl

358

Pluto18

Mbbl

Bass Strait

Mbbl

213

213

Total

Mboe

213

213

358

 

 

 

 

 

 

 

Total Australia

Mboe

28,798

20,429

22,911

49,227

45,284

 

 

 

 

 

 

 

______________

17 Production and sales volumes in boe for Q1 2022 have been restated using updated conversion factors, referenced on page 18.

18 Processing of volumes commenced at the Karratha Gas Plant via the Pluto-KGP Interconnector in 2022.

19 Includes periodic adjustments reflecting the arrangements governing Wheatstone LNG sales of 0.06 MMboe in Q2 2022, -0.18 MMboe in Q1 2022 and -0.11 MMboe in Q2 2021.

20 Natural gas liquids (NGL) include LPG, ethane, propane and butane.

 

Three months ended

Year to date

 

 

Jun

2022

Mar

202221

Jun

2021

Jun

2022

Jun

2021

INTERNATIONAL

 

 

 

 

 

 

Pipeline gas

 

 

 

 

 

 

Atlantis

Mboe

95

95

Mad Dog

Mboe

11

11

Shenzi

Mboe

21

21

Trinidad & Tobago

Mboe

836

836

Other22

Mboe

3

3

Total

Mboe

966

966

 

 

 

 

 

 

 

Crude oil and condensate

 

 

 

 

 

 

Atlantis

Mbbl

883

883

Mad Dog

Mbbl

379

379

Shenzi

Mbbl

718

718

Trinidad & Tobago

Mbbl

204

204

Other

Mbbl

28

28

Total

Mboe

2,212

2,212

 

 

 

 

 

 

 

NGL23

 

 

 

 

 

 

Atlantis

Mbbl

67

67

Mad Dog

Mbbl

18

18

Shenzi

Mbbl

39

39

Trinidad & Tobago

Mbbl

Other22

Mbbl

2

2

 

Total

Mboe

126

126

 

 

 

 

 

 

 

Total International

Mboe

3,304

3,304

 

 

 

 

 

 

 

MARKETING

 

 

 

 

 

 

LNG

 

 

 

 

 

 

Trading24

Mboe

3,741

3,338

5,227

7,079

8,595

Total

Mboe

3,741

3,338

5,227

7,079

8,595

 

 

 

 

 

 

 

Total Marketing

Mboe

3,741

3,338

5,227

7,079

8,595

 

 

 

 

 

 

 

Total sales

Mboe

35,843

23,767

28,138

59,610

53,879

______________

21 Production and sales volumes in boe for Q1 2022 have been restated using updated conversion factors, referenced on page 18.

22 Overriding royalty interests held in the GOM for several producing wells.

23 Natural gas liquids (NGL) include LPG, ethane, propane and butane.

24 Purchased LNG volumes sourced from third parties.

Contacts

INVESTORS

Australia & Europe | Damien Gare
W: +61 8 9348 4421

M: +61 417 111 697

Americas | Matthew Turnbull
M: +1 (713) 448-0956

E: investor@woodside.com

MEDIA

Christine Forster
M: +61 484 112 469

E: christine.forster@woodside.com

Read full story here

Alex

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