Woodside Energy Group, advancing growth with continued disciplined delivery
Written by
Varun Ratra
WDS reports showing strong project progress, stable operations, improved pricing and continued market activity.
Woodside Energy Group Ltd (ASX: WDS)
on 29 April 2026 reported first quarter 2026 production of 45.2 MMboe or 502 Mboe/d. Output was 8% lower than the previous quarter due to seasonal weather conditions. Even with this impact several major assets delivered very strong operating performance.
Sangomar achieved 99.9% reliability while Shenzi delivered 99.0%. Pluto LNG recorded 100% reliability for the third straight quarter and the North West Shelf Project achieved 99.7%. Operations in Western Australia were affected late in the quarter by Severe Tropical Cyclone Narelle.
The company completed safe shutdown and restart activities while protecting workers assets and the environment. Average realised pricing reached $63 per barrel of oil equivalent which was 11% higher than the prior quarter. Higher market prices supported this increase while further LNG pricing benefits are expected in coming quarters because of contract timing.
Main Projects Progress
The Scarborough Energy Project reached 96% completion and remains within budget with first LNG cargo targeted for the fourth quarter of 2026. During the quarter the Scarborough Floating Production Unit completed hook-up work and started the topside commissioning after arriving in Australia. Beaumont New Ammonia achieved its first ammonia cargo in February and operational control transferred in March.
The Trion Project advanced to 56% completion and remains on schedule for first oil in 2028. Drilling activities also started during the quarter and two topside modules were installed on the floating production unit. Louisiana LNG continued construction work with steel installation pipe work LNG tank construction and marine activities progressing.
The project was 24% complete while Train 1 reached 31% completion. First LNG is planned for 2029. Julimar Development Phase 3 drilling and completion activities were also finished ahead of the planned asset swap in the second half of 2026.
Marketing and Supply Activities
Woodside confirmed there were no interruptions to trading activities from the Middle East conflict and shipping operations continued normally.
LNG demand for spot cargoes remained strong during the quarter. Around 51% of LNG sales were linked to gas hub indices. Higher crude prices supported stronger spot market conditions.
The company stated it has limited exposure to volatile LNG shipping rates because of long-term shipping arrangements. No controlled shipping currently passes through Iranian waters or the Strait of Hormuz.
Additional pipeline gas sales were secured including about 1 PJ for the Western Australian market in 2026 and 8.1 PJ for the East Coast market across 2026 to 2028.
(Source: Company Report)
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