Summary (from https://newsrush.ai/m_51.html)First Quarter 2024 Report
19 April 2024 8:57 AM | 18 Pages
Woodside's Q1 2024 report shows a decrease in production and revenue but progresses in major projects.Summary
- Total production was 44.9 MMboe, a 7% decrease from Q4 2023.
- Revenue decreased by 12% from Q4 2023 to $2,969 million.
- Major projects like Scarborough Energy Project and Sangomar Project made significant progress.
- Sales of equity production linked to gas hub indices were 13%.
- Capital expenditure decreased by 25% from Q4 2023 to $1,179 million.
Highlights
- Quarterly production: 44.9 MMboe
- Quarterly revenue: $2,969 million
- Scarborough and Pluto Train 2 projects 62% complete
- Sangomar Project 96% complete
- Capital expenditure: $1,179 million
Positives
- Progress in major projects like Scarborough Energy and Sangomar.
- Completed sales and agreements enhancing the project portfolio.
- Successful offtake discussions for the H2OK project.
- Achieved 97% LNG production reliability for the North West Shelf.
Negatives
- 7% decrease in production from Q4 2023.
- 12% drop in revenue from Q4 2023.
- Decrease in realised prices for LNG and other products.
- Trunkline installation delay at Scarborough Energy Project.
Key Dates
- 31 March 2024: End of the first quarter.
- 19 April 2024: Date of report release.
- 24 April 2024: Annual General Meeting.
- July 23: Second quarter 2024 results.
- August 27: Half-Year 2024 report.
- October 16: Third quarter 2024 report.
Alerts
- Contains better than expected results: no
- Contains worse than expected results: yes
- Contains expected results: no
- Sentiment: mixed
Ann: First Quarter 2024 Report, page-2
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