Woodside Under Investors’ Radar having Increased 40% Year to Date.

WDS is growing steadily with strong production reliable operations and steady progress across major energy projects and markets

Woodside Energy Group Limited (ASX: WDS)

Woodside Energy Group Limited (ASX: WDS) on 29 April 2026 shared its first quarter report for the period ended 31 March 2026. It showed steady operations and progress across key assets. Several facilities such as Sangomar Shenzi North West Shelf Project and Pluto LNG delivered reliability at or above 99%. The average realised price reached 63 dollars per barrel of oil equivalent which was higher than the previous quarter. Total production came in at 45.2 million barrels of oil equivalent or 502 thousand per day. This was lower than the last quarter due to seasonal weather impacts.

Major project progress

The Scarborough Energy Project encouraged close to completion at 96% and is on track for its first LNG cargo in the fourth quarter of 2026. Its floating production unit finished hook up and started commissioning after arriving in Australia. Beaumont New Ammonia achieved its first cargo in February and full control shifted to the company in March. 

The Trion Project reached 56% completion and continues toward first oil in 2028. The Louisiana LNG Project remained on schedule with overall progress at 24% and Train 1 at 31%. This project is aiming for first LNG in 2029.

Business updates and operations

The company maintained safe operations despite severe cyclones affecting Western Australia. Output from that region was impacted late in the quarter though facilities were safely shut down and restored. 

Pluto LNG achieved perfect reliability for the third quarter in a row and preparation continued for a maintenance turnaround in May 2026. North West Shelf operations handled higher gas volumes from Waitsia Stage 2 while preparing for maintenance later in the year. 

Wheatstone faced an outage linked to a cyclone but production was partly restored with full recovery expected by the end of April. Sangomar delivered strong daily output and reservoir performance exceeded expectations though a decline in oil rates is expected later in 2026.

Other operations 

In Australia drilling work progressed at Julimar with startup planned in the second half of 2026 and decommissioning of some wells scheduled as part of an asset swap. Bass Strait assets are expected to transfer operatorship in the same period. 

In the United States Shenzi improved output through optimisation work and new production started from additional wells. The Beaumont ammonia facility began sales through both domestic and international channels though lower carbon production is now expected in 2027. 

Marketing activities continued without disruption from global conflict. LNG demand remained strong and about half of sales were linked to gas hub pricing. Additional gas supply deals were secured for both Western Australia and the East Coast covering upcoming years.

(Source: Company Report)