Woodside Energy Q1 revenue rises 13% on higher production, strong prices

Investing.com-- Woodside (OTC: WOPEY ) Energy Ltd (ASX: WDS ) on Wednesday posted a 13% year-on-year increase in revenue, driven by robust production from its Sangomar oil project and higher gas hub-linked prices.

Revenue for the three months ended March 31 rose to $3.32 billion from $2.95 billion a year earlier.

Quarterly production rose 9% y-o-y to 49.1 million barrels of oil equivalent (MMboe), but saw a 4% dip from the previous quarter due to weather disruptions and unplanned outages at Pluto LNG.

The Sangomar field, operational since July 2024, delivered an exceptional output of 78,000 barrels per day (Woodside share), contributing significantly to revenue growth.

Woodside maintained full-year 2025 production guidance of 186–196 MMboe, with capital expenditure unchanged at $4.5 billion–$5 billion.