Woodside Q3 revenue drops, narrows full-year guidance

Australian LNG operator Woodside reported a 7.4 percent drop in third-quarter sales revenue as production from the North West Shelf and Pluto LNG projects declined.

Sales revenue in the third quarter dropped to $914 million from $988 million in the year-ago period, while total production declined to 20.3 million barrels of oil equivalent (mmboe) from 25.2 mmboe last year.

Woodside said it narrowed its forecast for full-year production to 84 million to 86 mmboe, from 84 mmboe to 90 mmboe, due to the timing of the first train of the Wheatstone LNG project, in which the company has a 13 percent stake.

To remind, the Chevron-operated Wheatstone LNG project has earlier this month started producing the chilled fuel.

Woodside said on Thursday that a LNG tanker has arrived at the Wheatstone marine terminal and loading operations were expected to begin soon.

The company added that the second LNG train from the Wheatstone project is expected to start in 6 to 8 months.

LNG World News Staff