Woodside Petroleum Releases Q4 2018 Performance Update

  • Jan 17, 2019 AEDT
  • Team Kalkine
Woodside Petroleum Releases Q4 2018 Performance Update

On 17 January 2019, Woodside Petroleum Limited (ASX: WPL) released its fourth quarter report for the period ended 31 December 2018. The company is Australia’s leading energy player engaged in oil and gas exploration and development.

Key Highlights

  • The base business demonstrated a strong performance with Pluto achieving 99.7% reliability thereby driving increased LNG production and above expectation production results of Wheatsone. 10% increase in FY18 production was declared as compared to the previous period.
  • The company delivered Q4 production of 24.1 MMboe (up 10% from Q4 2017) and annual production of 91.4 MMboe (up 8% from FY 2017).
  • An impressive 43% increase in sales revenue was reported to $1,419 million, driven by higher prices and solid production levels.
  • The Greater Western Flank Phase 2 project was started in October, six months ahead of schedule and $630 million under the total budget.
  • Above expectation production at Trains 1 and 2 at Wheatstone LNG. The first domestic gas plant was completed with first domestic gas production targeted in Q1 2019.
  • 83% completion of the Greater Enfield project with eight of the twelve wells successfully completed. The dry-dock program at the Keppel shipyard, Singapore was completed by Ngujima-Yin FPSO. Operations continue across the processing facilities of the FPSO.
  • The front-end engineering design operations commenced for the proposed SNE Field Development Phase 1 in Senegal. The Senegalese Government has approved the development’s Environmental and Social Impact Assessment.
  • Woodside assumed the role of operator of the SNE Field Development on 1 December 2018 following approval by the Minister of Petroleum and Energies.
  • The RSSD joint venture commenced FEED activities and awarded the subsea FEED contract on 16 December 2018. Further FEED contracts are expected soon.
  • FEED for the proposed Pluto-North West Shelf Interconnector gas pipeline was completed for the Pluto LNG facilities and pipeline.
  • Pluto Train 2 FEED contract to Bechtel and Julimar Phase 2 execute contracts to OneSubsea Australia and Diamond Offshore were awarded.
  • The first supplies from Pluto were delivered into the Dampier to Bunbury Natural Gas Pipeline.
  • The designing for Scarborough offshore infrastructure was completed.
  • Sale and Purchase agreements were signed with Perdaman and Alcoa, enhancing the market presence in Western Australia.
  • The gas agreement was entered with Perdaman for the next two decades.

2018 Full-Year Guidance

  • Oil and gas properties depreciation and amortisation: $1,420 – 1,440 million.
  • Net finance costs: $175 – 195 million, Trading costs: $210 – 230 million, Production costs: $455 – 475 million.
  • Petroleum resource rent tax: accounting benefit to be $40 – 60 million.

 2019 Guidance

  • Production guidance of 88 – 94 million barrels.
  • Liard Basin production projected to cease by mid-2019.
  • Investment expenditure: $1,600 million to $1,700 million.
  • Turnaround for Pluto LNG for April-May 2019.
  • No exploration is planned for Q1 2019.

 Stock performance: The WPL stock is trading at A$33.750, up by 0.686 % (as at 2:19 PM, 17 January 2019). The share price has risen by 7.64% over last one month.


This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.


All pictures are copyright to their respective owner(s) does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.


There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK