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

October 20, 2022 02:06 PM AEDT | By Khushboo Joshi
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  • 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.


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