Woodside (ASX:WPL) marks strong leap in Q4 FY21

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Woodside (ASX:WPL) marks strong leap in Q4 FY21

Woodside (WPL), Q4 FY21 results, revenue, share price
Image source: © Ekkasit919 | Megapixl.com

Highlights

  • Woodside reveals its Q4 FY2021 results today, stating revenue growth worth AU$2,852 million representing a giant leap of 86% from the last quarter. 
  • An increase in product pricing drove strong revenue growth. 
  • The company has also executed its share sale agreement with BHP and secured approval for its investment decisions to drive its strategic growth. 

ASX-listed energy sector company Woodside Petroleum Ltd (ASX:WPL) announced its fourth-quarter report (Q4 FY2021) for the period ending on 31 December 2021. 

Read more: Woodside Petroleum (ASX:WPL) inks deal with Commonwealth LNG

The company informed that this quarter has witnessed substantial revenue supported by increased product pricing, the binding share sale agreement with BHP for the proposed merger, final investment decisions on the Scarborough and Pluto Train 2 projects, and progressing WPL’s new strategic energy investment.

The key achievements by WPL in the quarter:

  • The company has delivered sales revenue worth AU$2,852 million, up by 86% from Q3 2021.  
  • The average realised price increased to AU$90 per barrel of oil equivalent, up by 53% from Q3 2021. 
  • WPL has delivered production of 22.6 MMboe, up by 2% from Q3 2021.  
  • Woodside’s sales volume went up by 22% from Q3 FY21 to 31.8 MMboe. 
  • WPL has also signed and executed a binding share sale agreement with BHP Group to merge BHP’s oil and gas portfolio with Woodside. 
  • The company got approval for its final investment decisions for the Scarborough and Pluto Train 2 projects.  
  • Additionally, WPL had also entered into a sale and purchase agreement with Global Infrastructure Partners to sell a 49% non-operating participating interest in the Pluto Train 2 Joint Venture. 
  • Woodside had declared an AU$5 billion investment target for new energy products and lower-carbon services by 2030. 
  • The firm has also achieved the start-up of Pyxis Hub and Julimar-Brunello Phase 2.  
  • WPL has successfully appointed Graham Tiver as Chief Financial Officer and Executive Vice President.

Meanwhile, on the ASX, the WPL stock was spotted trading 0.039% up at AU$25.430 per share at 11:54 AM AEDT.

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