Woodside (ASX:WDS) marks 59% rise in sales volume in Q3

October 20, 2022 04:06 AM BST | By Khushboo Joshi
 Woodside (ASX:WDS) marks 59% rise in sales volume in Q3
Image source: © Timonschneider | Megapixl.com

Highlights:

  • Woodside Energy Group shared its third quarter report for the period ended 30 September 2022.
  • The energy giant has upgraded its full-year 2022 production guidance.
  • The company’s production has risen by 52%, while its sales volume has gone up 59% compared with the second quarter of 2022.

An operator of oil and gas production in Australia, Woodside Energy Group Ltd (ASX:WDS), on 20 October 2022, shared its third quarter report for the period ended 30 September 2022. As per the report, the company has delivered a record production of 51.2 MMboe, up 52% from the second quarter of the year.

Post the update, the shares of the company were spotted trading 5.161% higher at AU$34.230 apiece at 12:00 PM AEDT today.

 

Key highlights from the third-quarter report:

  • The company claims to have delivered reliable production. This features production of 51.2 MMboe, up 52% from Q2 2022, and delivering a record sales volume of 57.1 MMboe, up 59% from Q2 2022.
  • Woodside’s revenue rose 70% to US$5,858 million.
  • Woodside sold 24% of the produced LNG at prices linked to gas hub indices.

Woodside has also upgraded its full-year 2022 production guidance to 153–157 MMboe.

During the quarter, the company also claims to have invested in growth:

  • Woodside issued tenders for major scopes of work for the Trion oil development offshore Mexico
  • The energy giant signed a couple of long-term marketing agreements to raise its exposure to Atlantic Basin LNG and to provide LNG to the undersupplied European market.
  • The company secured several greenhouse gas assessment permits for future carbon capture and storage opportunities.
  • The company acquired a contract to buy electrolysers for the proposed H2OK hydrogen project in Oklahoma.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Limited, Company No. 12643132 (Kalkine Media, we or us) and is available for personal and non-commercial use only. Kalkine Media is an appointed representative of Kalkine Limited, who is authorized and regulated by the FCA (FRN: 579414). The non-personalised advice given by Kalkine Media through its Content does not in any way endorse or recommend individuals, investment products or services suitable for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a qualified financial planner and/or adviser. No liability is accepted by Kalkine Media or Kalkine Limited and/or any of its employees/officers, for any investment loss, or any other loss or detriment experienced by you for any investment decision, whether consequent to, or in any way related to this Content, the provision of which is a regulated activity. Kalkine Media does not intend to exclude any liability which is not permitted to be excluded under applicable law or regulation. Some of the Content on this website may be sponsored/non-sponsored, as applicable. However, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music/video that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music or video used in the Content unless stated otherwise. The images/music/video that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.


Sponsored Articles


Investing Ideas

Previous Next