Woodside Energy Third Quarter Report for Period Ended 30 September 2026
PERTH, Australia--( BUSINESS WIRE)--Woodside Energy Group (ASX: WDS) (NYSE: WDS):
Strong performance from improved production and safety.
2026 full-year guidance
Prior
Current
Comment
Total production volumes 1
MMboe
174—185
174—181
Gas hub exposure 2
%
~30
No change
Capital expenditure 3
$ million
4,000—4,500
No change
Abandonment expenditure
$ million
500—800
No change
Exploration expenditure
$ million
~200
No change
Production costs
$ million
1,500—1,800
No change
Feed gas, services and processing costs
$ million
500—600
No change
Property, plant and equipment depreciation and amortisation
$ million
4,200—4,700
No change
Woodside CEO Liz Westcott said the strong third quarter performance reflected the company’s highly reliable operations and disciplined execution of major growth projects.
“Amid ongoing volatility in global energy markets, we have remained a reliable supplier to our customers. Increased quarterly operating revenue reflected increased production and strong realised prices.
“We delivered quarterly production of 46.2 million barrels of oil equivalent, up 12% from the previous quarter following the successful completion of the Pluto LNG turnaround in the second quarter and the NWS turnaround in the third quarter.
“We maintained outstanding reliability across our global portfolio, with reliability of 99.8% at Pluto LNG and 99.3% at the NWS Project in Australia, and 99.2% at Sangomar in Senegal.
“We recorded three process safety events during the quarter. Safety remains our highest priority and we are focused on applying the lessons learned from these incidents and strengthening our controls in this vitally important area.
“We continued executing our major growth projects to budget and schedule. The Scarborough Energy Project is now 99% complete, with gas from the Scarborough reservoir introduced into the FPU and exported into the trunkline during the quarter. We remain on track for first LNG cargo this year.
“The Trion Project is now 71% complete and targeting first oil in 2028. Fabrication of the FPU is well advanced, with integration and pre-commissioning activities underway.
“Louisiana LNG is targeting first LNG in 2029, with construction progressing across all three trains and the project 32% complete.
“We continued to optimise our portfolio through the ongoing integration of the Gippsland Basin assets and divestment of our operated interest in the Calypso Project. Following completion of the Beaumont New Ammonia strategic review, we will now initiate a formal process to reduce our investment and achieve value for our shareholders. These actions demonstrate our disciplined approach to portfolio management and capital allocation, with a clear focus on investments that deliver long-term shareholder value.
“We remain committed to supplying Australia’s domestic gas market and are assessing our plans for four proposed development wells in the Bass Strait. Development will depend on technical assessments and the implications of the Federal Government’s domestic gas reservation scheme.”
Comparative performance at a glance
Q3
2026
Q2
2026
Change
%
Q3
2025
Change
%
YTD
2026
YTD
2025
Change
%
Operating revenue
$ million
4,281
4,185
2%
3,359
27%
11,727
9,949
18%
Production volumes 4
MMboe
46.2
41.3
12%
50.8
(9%)
132.7
149.9
(11%)
Gas
MMscf/d
1,697
1,326
28%
1,827
(7%)
1,534
1,831
(16%)
Liquids
Mbbl/d
202
214
(6%)
231
(13%)
212
228
(7%)
Ammonia
kT/d
0.8
1.8
(56%)
—
—%
1.3
—
—%
Total
Mboe/d
503
454
11%
552
(9%)
486
549
(11%)
Sales volumes 5
MMboe
51.1
48.0
6%
55.1
(7%)
150.9
159.9
(6%)
Gas
MMscf/d
2,043
1,672
22%
2,122
(4%)
1,910
2,049
(7%)
Liquids
Mbbl/d
193
227
(15%)
226
(15%)
213
226
(6%)
Ammonia
kT/d
1.0
2.1
(52%)
—
—%
1.3
—
—%
Total
Mboe/d
555
528
5%
599
(7%)
553
586
(6%)
Average realised price
$/boe
84
85
(1%)
60
40%
77
61
26%
Capital expenditure and acquisitions
$ million
722
784
(8%)
1,323
(45%)
2,829
3,881
(27%)
Capital expenditure 6
$ million
722
784
(8%)
1,323
(45%)
2,359
3,881
(39%)
Acquisitions
$ million
—
—
—%
—
—%
470
—
—%
Operations
Pluto LNG
North West Shelf Project
Wheatstone and Julimar-Brunello
Bass Strait
Other Australia
Sangomar
Gulf of America
Beaumont New Ammonia
Marketing
Revenue and trading
Pipeline gas
Projects
Scarborough Energy Project
Trion
Louisiana LNG
Hydrogen Refueller @H2Perth
Decommissioning
Development and exploration
Browse
Sunrise
Calypso
Exploration
Corporate activities
Cost reduction
Climate and sustainability
Hedging
Embedded commodity derivative
Funding and liquidity
Capital Markets Day
Upcoming events 2026-2027
November
5
2026 Capital Markets Day (Australia)
12
2026 Capital Markets Day (United States)
January
28
Fourth Quarter Report
February
23
2026 Annual Report
April
21
First Quarter Report
Production volumes
Q3
2026
Q2
2026
Q3
2025
YTD
2026
YTD
2025
Gas
MMscf/d
1,697
1,326
1,827
1,534
1,831
Liquids
Mbbl/d
202
214
231
212
228
Ammonia
kT/d
0.8
1.8
–
1.3
–
Total production volumes
Mboe/d
503
454
552
486
549
Production (reserves)
Q3
2026
Q2
2026
Q3
2025
YTD
2026
YTD
2025
AUSTRALIA
LNG
North West Shelf
Mboe
5,646
5,491
5,895
16,815
17,665
Pluto 10
Mboe
12,516
7,701
12,118
31,208
33,272
Wheatstone
Mboe
1,338
1,454
2,677
5,078
7,523
Total
Mboe
19,500
14,646
20,690
53,101
58,460
Pipeline gas
Bass Strait
Mboe
4,416
3,440
3,929
10,612
10,774
Other 10,11
Mboe
2,862
2,510
3,830
7,880
11,450
Total
Mboe
7,278
5,950
7,759
18,492
22,224
Crude oil and condensate
North West Shelf
Mbbl
1,054
949
1,093
2,956
3,111
Pluto 10
Mbbl
889
602
980
2,336
2,717
Wheatstone
Mbbl
239
271
471
937
1,331
Bass Strait
Mbbl
552
477
505
1,371
1,364
Macedon & Pyrenees
Mbbl
263
169
347
793
1,274
Ngujima-Yin
Mbbl
659
684
960
1,996
2,769
Okha
Mbbl
7
-
575
318
1,474
Total
Mboe
3,663
3,152
4,931
10,707
14,040
NGL
North West Shelf
Mbbl
216
191
258
588
695
Pluto 10
Mbbl
45
28
58
112
152
Bass Strait
Mbbl
772
761
842
2,163
2,263
Total
Mboe
1,033
980
1,158
2,863
3,110
Total Australia
Mboe
31,474
24,728
34,538
85,163
97,834
Mboe/d
342
272
375
312
358
Q3
2026
Q2
2026
Q3
2025
YTD
2026
YTD
2025
INTERNATIONAL
Pipeline gas
USA
Mboe
358
405
491
1,209
1,278
Trinidad & Tobago
Mboe
-
-
242
-
4,863
Other 12
Mboe
-
-
6
9
34
Total
Mboe
358
405
739
1,218
6,175
Crude oil and condensate
Atlantis
Mbbl
2,424
2,526
2,783
7,671
7,859
Mad Dog
Mbbl
2,710
2,704
2,310
8,172
7,357
Shenzi
Mbbl
1,667
1,859
2,088
5,422
6,431
Trinidad & Tobago
Mbbl
-
-
13
-
205
Sangomar
Mbbl
6,758
7,854
7,516
21,764
21,922
Other 12
Mbbl
35
35
5
124
5
Total
Mboe
13,594
14,978
14,715
43,153
43,779
NGL
USA
Mbbl
276
370
442
1,159
1,238
Other 12
Mbbl
-
-
3
5
18
Total
Mboe
276
370
445
1,164
1,256
Total International
Mboe
14,228
15,753
15,899
45,535
51,210
Mboe/d
155
173
173
167
188
Total production (reserves) volumes
Mboe
45,702
40,481
50,437
130,698
149,044
Mboe/d
497
445
548
479
546
Production (processing)
Q3
2026
Q2
2026
Q3
2025
YTD
2026
YTD
2025
AUSTRALIA
Pluto-KGP Interconnector 13
LNG
Mboe
254
171
210
667
583
Pipeline gas
Mboe
-
-
91
-
253
Crude oil and condensate
Mbbl
8
6
9
23
28
NGL
Mbbl
5
3
7
12
17
Total Australia
Mboe
267
180
317
702
881
Mboe/d
3
2
3
3
3
INTERNATIONAL
Beaumont New Ammonia 14
Mboe
266
609
-
1,292
-
Total International
Mboe
266
609
-
1,292
-
Mboe/d
3
7
-
5
-
Total production (processing) volumes
Mboe
533
789
317
1,994
881
Mboe/d
6
9
3
7
3
Total production volumes
Mboe
46,235
41,270
50,754
132,692
149,925
Mboe/d
503
454
552
486
549
Sales volumes
Q3
2026
Q2
2026
Q3
2025
YTD
2026
YTD
2025
Gas
MMscf/d
2,043
1,672
2,122
1,910
2,049
Liquids
Mbbl/d
193
227
226
213
226
Ammonia
kT/d
1.0
2.1
–
1.3
–
Total sales volumes
Mboe/d
555
528
599
553
586
Q3
2026
Q2
2026
Q3
2025
YTD
2026
YTD
2025
AUSTRALIA
LNG
North West Shelf
Mboe
5,630
3,922
4,743
17,016
16,689
Pluto
Mboe
13,146
9,011
13,609
34,062
35,254
Wheatstone
Mboe
1,967
1,995
1,623
6,578
7,186
Total
Mboe
20,743
14,928
19,975
57,656
59,129
Pipeline gas
Bass Strait
Mboe
4,277
3,736
4,070
10,579
10,989
Other 15
Mboe
3,152
2,756
4,028
8,406
11,445
Total
Mboe
7,429
6,492
8,098
18,985
22,434
Crude oil and condensate
North West Shelf
Mbbl
651
1,300
1,194
2,633
3,039
Pluto
Mbbl
775
1,011
1,338
2,978
2,693
Wheatstone
Mbbl
92
427
417
787
1,402
Bass Strait
Mbbl
593
619
531
1,740
1,664
Ngujima-Yin
Mbbl
690
963
1,171
2,322
2,985
Okha
Mbbl
-
-
-
251
1,256
Macedon & Pyrenees
Mbbl
-
511
496
512
1,493
Total
Mboe
2,801
4,831
5,147
11,223
14,532
NGL
North West Shelf
Mbbl
-
473
430
473
907
Pluto
Mbbl
-
93
105
93
215
Bass Strait
Mbbl
874
437
374
2,177
1,610
Total
Mboe
874
1,003
909
2,743
2,732
Total Australia
Mboe
31,847
27,254
34,129
90,607
98,827
Mboe/d
346
299
371
332
362
Q3
2026
Q2
2026
Q3
2025
YTD
2026
YTD
2025
INTERNATIONAL
Pipeline gas
USA 16
Mboe
361
413
438
1,160
1,246
Trinidad & Tobago
Mboe
-
-
243
-
4,750
Other 17
Mboe
45
3
4
51
12
Total
Mboe
406
416
685
1,211
6,008
Crude oil and condensate
Atlantis
Mbbl
2,400
2,544
2,801
7,672
7,901
Mad Dog
Mbbl
2,605
2,780
2,310
8,118
7,415
Shenzi
Mbbl
1,415
1,870
2,094
5,179
6,326
Trinidad & Tobago
Mbbl
-
-
5
-
181
Sangomar
Mbbl
6,932
6,865
6,833
20,619
20,859
Other 17
Mbbl
130
67
47
286
151
Total
Mboe
13,482
14,126
14,090
41,874
42,833
NGL
USA
Mbbl
254
389
440
1,165
1,196
Other 17
Mbbl
29
1
2
32
6
Total
Mboe
283
390
442
1,197
1,202
Ammonia
Beaumont New Ammonia 18
Mboe
346
702
-
1,297
-
Total
Mboe
346
702
-
1,297
-
Total International
Mboe
14,517
15,634
15,217
45,579
50,043
Mboe/d
158
172
165
167
183
MARKETING 19
LNG
Mboe
4,389
4,856
5,492
13,645
10,579
Liquids
Mboe
341
298
249
1,023
417
Total
Mboe
4,730
5,154
5,741
14,668
10,996
Total Marketing
Mboe
4,730
5,154
5,741
14,668
10,996
Total sales volumes
Mboe
51,094
48,042
55,087
150,854
159,866
Mboe/d
555
528
599
553
586
Operating revenue (US$ million)
Q3
2026
Q2
2026
Q3
2025
YTD
2026
YTD
2025
AUSTRALIA
North West Shelf
479
378
323
1,305
1,153
Pluto
1,121
795
1,000
2,682
2,539
Wheatstone
189
167
135
536
589
Bass Strait
380
352
265
964
776
Macedon
56
57
44
169
148
Ngujima-Yin
73
102
88
223
231
Okha
-
2
-
27
90
Pyrenees
-
45
37
45
120
Revenue from sale of products
2,298
1,898
1,892
5,951
5,646
Intersegment revenue
(53)
(51)
(67)
(154)
(76)
Processing and services revenue
34
35
39
122
148
Total Australia
2,279
1,882
1,864
5,919
5,718
INTERNATIONAL
Atlantis
215
258
196
672
568
Mad Dog
227
272
150
689
501
Shenzi
120
192
142
450
447
Trinidad & Tobago 20
-
-
6
-
150
Sangomar
659
763
477
1,946
1,468
Other 21
44
145
2
231
9
Revenue from sale of products
1,265
1,630
973
3,988
3,143
Total International
1,265
1,630
973
3,988
3,143
MARKETING
Revenue from sale of products
672
620
452
1,652
996
Intersegment revenue
53
51
67
154
76
Shipping and other revenue
12
2
3
14
16
Total Marketing 22
737
673
522
1,820
1,088
Operating revenue 23
4,281
4,185
3,359
11,727
9,949
Realised prices
Units
Q3
2026
Q2
2026
Q3
2025
Units
Q3
2026
Q2
2026
Q3
2025
LNG produced
$/MMBtu
13.3
10.5
9.5
$/boe
84
66
60
LNG traded 24
$/MMBtu
16.6
15.2
11.2
$/boe
108
99
71
Pipeline gas:
Western Australia
A$/GJ
6.9
6.9
6.8
East Coast Australia
A$/GJ
15.3
15.7
12.9
International 25
$/Mcf
2.6
3.0
3.6
Pipeline gas
$/boe
49
50
38
Oil and condensate
$/bbl
93
107
68
$/boe
93
107
68
NGL
$/bbl
52
57
41
$/boe
52
57
41
Liquids traded 24
$/bbl
71
110
60
$/boe
71
110
60
Average realised price
$/boe
84
85
60
Dated Brent
$/bbl
97
105
69
JCC (lagged three months)
$/bbl
111
67
75
WTI
$/bbl
86
93
65
JKM
$/MMBtu
18.9
17.5
12.5
TTF
$/MMBtu
18.0
16.4
11.7
Capital expenditure (US$ million)
Q3
2026
Q2
2026
Q3
2025
YTD
2026
YTD
2025
Evaluation capitalised 26
12
15
8
36
37
Property plant & equipment
1,738
1,557
1,530
4,981
5,902
Cash contributions from participants
(1,029)
(878)
(222)
(2,754)
(2,092)
Other 27
1
90
7
96
34
Capital expenditure
722
784
1,323
2,359
3,881
Acquisitions
-
-
-
470
-
Total capital expenditure and acquisitions
722
784
1,323
2,829
3,881
Q3
2026
Q2
2026
Q3
2025
YTD
2026
YTD
2025
Scarborough
186
290
361
751
1,016
Trion
267
275
291
713
698
Louisiana LNG capital expenditure
967
723
498
2,562
3,153
Cash contributions from participants
(1,029)
(878)
(222)
(2,754)
(2,092)
Louisiana LNG other 27
7
26
-
38
-
Louisiana LNG 28
(55)
(129)
276
(154)
1,061
Other
324
348
395
1,049
1,106
Capital expenditure
722
784
1,323
2,359
3,881
Other expenditure (US$ million)
Exploration and evaluation expenditure
Q3
2026
Q2
2026
Q3
2025
YTD
2026
YTD
2025
Exploration capitalised 26,29
3
2
17
45
22
Exploration and evaluation expensed 30
63
50
46
163
127
Permit amortisation
2
2
2
6
5
Total
68
54
65
214
154
Trading costs
Q3
2026
Q2
2026
Q3
2025
YTD
2026
YTD
2025
Australia
83
52
71
184
159
International
14
-
-
14
-
Marketing
407
533
374
1,278
696
Total
504
585
445
1,476
855
Abandonment expenditure
Q3
2026
Q2
2026
Q3
2025
YTD
2026
YTD
2025
Total
172
139
141
427
658
Exploration or appraisal wells drilled
Region
Permit
area
Well
Target
Interest (%)
Spud date
Water
depth (m)
Actual
well depth
(m) 31
Remarks
Egypt
Tiba
Nasim-1X
Gas
40% Non-operator
25 August
2026
-1
2,650
Drilling,
onshore
Permits and licences
Key changes to permit and licence holdings during the quarter ended 30 September 2026 are noted below.
Region
Permits or licence areas
Change in
interest (%)
Current
interest (%)
Remarks
United States
AC 125, AC 126
(45%)
—%
Assigned
GB 721, GC 598, AC 36, AC 80, AC 81
(100%)
—%
Relinquished
EB 682
100%
100%
Awarded
Production rates
Average daily production rates (100% project) for the quarter ended 30 September 2026:
Woodside share 32
Production rate
(100% project, Mboe/d)
Remarks
Q3
2026
Q2
2026
AUSTRALIA
NWS Project
LNG
29.17%
210
203
Increased production driven by reliability and wells returned to service.
Crude oil and condensate
29.26%
39
35
NGL
29.36%
8
7
Pluto LNG
LNG
90.00%
124
75
Production higher following planned maintenance turnaround in Q2.
Crude oil and condensate
90.00%
10
7
Pluto-KGP Interconnector
LNG
100.00%
28
19
Production higher due to major turnaround in Q2 which impacted feed gas.
Crude oil and condensate
100.00%
1
1
NGL
100.00%
1
–
Wheatstone 33
LNG
6.00%
243
204
Julimar Brunello production lower due to impact of offshore project activities.
Crude oil and condensate
8.12%
32
28
Bass Strait
Pipeline gas
48.95%
98
83
Production higher due to seasonal increases in demand.
Crude oil and condensate
43.61%
14
12
NGL
44.96%
19
18
Australia Oil
Ngujima-Yin
60.00%
12
13
Okha reconnected late in Q3.
Okha
50.00%
–
–
Pyrenees
71.43%
4
3
Other
Pipeline gas 34
31
28
Woodside share 35
Production rate
(100% project, Mboe/d)
Remarks
Q3
2026
Q2
2026
INTERNATIONAL
Atlantis
Crude oil and condensate
38.50%
68
72
Production lower due to higher planned and unplanned events.
NGL
38.50%
3
5
Pipeline gas
38.50%
7
8
Mad Dog
Crude oil and condensate
20.86%
141
142
NGL
20.86%
5
5
Pipeline gas
20.86%
4
3
Shenzi
Crude oil and condensate
64.55%
28
32
Production lower because of planned shutdown and well interventions.
NGL
64.65%
1
2
Pipeline gas
64.64%
1
1
Sangomar
Crude oil
78.01% 36
94
99
Production lower due to natural field decline.
Beaumont New Ammonia
Ammonia 37
100.00%
3
7
Production lower due to unplanned event.
Disclaimer and important notice
Forward looking statements
This report contains forward-looking statements. These statements may relate to Woodside’s business, goals, targets, aspirations, plans, expectations, market conditions, results of operations and financial condition, including but not limited to, statements regarding the timing, completion and outcomes of transactions, construction costs and capital expenditures, supply and demand for Woodside’s products, development, completion and execution of Woodside’s projects, the expected benefits, cash flows and rates of return or other future results of investments, strategies and transactions, the payment of future dividends and the amount thereof, future results of projects, operating activities and new energy products, expectations and plans for renewables production capacity and investments in, and development of, renewables projects, expectations and guidance with respect to production, production costs and other costs, capital expenditure, abandonment expenditure, exploration expenditure and gas hub exposure, trends in commodity prices and currency exchange rates, adoption and implementation of new technologies and expectations regarding the achievement of Woodside’s Scope 1 and 2 greenhouse gas emissions target (in each case on a net equity or gross equity basis as specified) and other climate and sustainability goals. All statements, other than statements of historical or present facts, are forward-looking statements and generally may be identified by the use of forward-looking words such as “aim”, “anticipate”, “aspire”, “believe”, “enable”, “estimate”, “expect”, “forecast”, “foresee”, “guidance”, “intend”, “likely”, “may”, “objective”, “outlook”, “pathway”, “plan”, “position”, “potential”, “project”, “schedule”, “seek”, “should”, “strategy”, “strive”, “target”, “will” and other similar words or expressions.
Forward-looking statements in this report are not guarantees of future events or performance, but are in the nature of future expectations that are based on management’s current expectations and assumptions. Those statements and any assumptions on which they are based are subject to change without notice and are subject to inherent known and unknown risks, uncertainties, contingencies and other factors, many of which are beyond the control of Woodside, its related bodies corporate and their respective officers, directors, employees, advisers or representatives. Important factors that could cause actual results to differ materially from those in the forward-looking statements and the assumptions on which they are based include, but are not limited to, fluctuations in commodity prices, actual demand for Woodside products, currency fluctuations, geotechnical factors, drilling and production results, gas commercialisation, development progress, operating results, engineering estimates, reserve and resource estimates, loss of market, industry competition, pace of technology developments, sustainability and environmental risks, climate related transition and physical risks, safety and personnel risks, changes in accounting standards, economic and financial markets conditions in various countries and regions, the actions of third parties, project delay or advancement, regulatory approvals, political risks and the impact of armed conflict and political instability (such as the ongoing conflicts in Ukraine and in the Middle East) on economic activity and oil and gas supply and demand, cost estimates, legislative, fiscal and regulatory developments, including those related to the imposition of tariffs and other trade restrictions, and the effect of future regulatory or legislative actions on Woodside or the industries in which it operates, including potential changes to tax laws, the impact of general economic conditions, inflationary conditions, prevailing exchange rates and interest rates and conditions in financial markets and risks associated with acquisitions, mergers, divestitures, and joint ventures, including difficulties integrating or separating businesses, uncertainty associated with financial projections, restructuring, increased costs and adverse tax consequences, and uncertainties and liabilities associated with acquired and divested properties and businesses.
A more detailed summary of the key risks relating to Woodside and its business can be found in the “Risk factors” section of Woodside’s most recent Annual Report released to the Australian Securities Exchange and in Woodside’s most recent Annual Report on Form 20-F filed with the United States Securities and Exchange Commission and available on the Woodside website at https://www.woodside.com/investors/reports-investor-briefings. You should review and have regard to these risks when considering the information contained in this report.
If any of the assumptions on which a forward-looking statement is based were to change or be found to be incorrect, this would likely cause outcomes to differ from the statements made in this report.
Investors are strongly cautioned that forward-looking statements are subject to significant uncertainties and may not prove to be correct. Actual results or performance may vary materially from those expressed in, or implied by, any forward-looking statements. None of Woodside nor any of its related bodies corporate, nor any of their respective officers, directors, employees, advisers or representatives, nor any person named in this report or involved in the preparation of the information in this report, makes any representation, assurance, guarantee or warranty (either express or implied) as to the accuracy or likelihood of fulfilment of any forward-looking statement, or any outcomes, events or results expressed or implied in any forward-looking statement in this report. All forward-looking statements contained in this report reflect Woodside’s views held as at the date of this report and, except as required by applicable law, neither Woodside, its related bodies corporate, nor any of their respective officers, directors, employees, advisers or representatives nor any person named in this report or involved in the preparation of the information in this report intends to, undertakes to, or assumes any obligation to, provide any additional information or update or revise any of these statements after the date of this report, either to make them conform to actual results or as a result of new information, future events or results, changes in Woodside’s expectations or otherwise. Past performance (including historical financial and operational information) is given for illustrative purposes only. It is not necessarily a reliable indicator of future performance, including future security prices.
Other important information
Unless otherwise stated, all:
Glossary, units of measure and conversion factors
Refer to the Glossary in the Half-Year Report 2026 for definitions, including carbon related definitions.
Product
Unit
Conversion factor
Natural gas
5,700 scf
1 boe
Condensate
1 bbl
1 boe
Oil
1 bbl
1 boe
Natural gas liquids
1 bbl
1 boe
Ammonia
1 metric tonne
3.68 boe
Facility
Unit
LNG Conversion factor
Karratha Gas Plant
1 tonne
8.08 boe
Pluto LNG Gas Plant
1 tonne
8.34 boe
Wheatstone
1 tonne
8.27 boe
The LNG conversion factor from tonne to boe is specific to volumes produced at each facility and is based on gas composition which may change over time.
Term
Definition
bbl
barrel
bcf
billion cubic feet of gas
boe
barrel of oil equivalent
GJ
gigajoule
kT
thousand metric tonnes
kT/d
thousand metric tonnes per day
NGL
natural gas liquid
Mbbl
thousand barrels
Mbbl/d
thousand barrels per day
Mboe
thousand barrels of oil equivalent
Mboe/d
thousand barrels of oil equivalent per day
Mcf
thousand cubic feet of gas
MMboe
million barrels of oil equivalent
MMBtu
million British thermal units
MMscf/d
million standard cubic feet of gas per day
Mtpa
million tonnes per annum
PJ
petajoule
scf
standard cubic feet of gas
TJ
terajoule
1 Total production volumes includes 1.5—2.5 MMboe from Beaumont New Ammonia (prior guidance included 2—3 MMboe).
2 Gas hub indices include Japan Korea Marker (JKM), Title Transfer Facility (TTF) and National Balancing Point. It excludes Henry Hub. Presented on a 3-year average for 2026—2028. Includes binding sales and purchases agreements only, Woodside’s equity share of Scarborough and Pluto LNG, Corpus Christi offtake volumes and assumes the Chevron asset swap is completed.
3 Capital expenditure is reported on the basis of Woodside’s net ownership interests for each project as at 30 September 2026. Louisiana LNG (90% Louisiana LNG LLC, 60% Louisiana LNG Infrastructure LLC and 20% Driftwood Pipeline LLC) capital expenditure adjusted for the cash contributions from Stonepeak Wallaby I Acquiror LP (Stonepeak) and Williams Louisiana LNG LLC (Williams). Scarborough (74.9% participating interest) and Pluto Train 2 (51% participating interest). Trion (60% participating interest). Excludes the final acquisition completion payment for Beaumont New Ammonia of $470 million. Completion of the asset swap with Chevron assumed to occur in Q4 2026.
4 Percent change in total production may differ from percent change in daily production due to the number of days in each quarter.
5 Restated additional volumes of 0.09 MMboe in Q3 2025 and 0.28 MMboe in YTD 2025 to reflect a revised MMBtu to boe conversion factor.
6 Louisiana LNG YTD 2026 project spend includes $185 million of prepayments recognised in investing cash flow that are recoverable through partner cash calls but are not yet recognised as capital expenditure.
7 Completion of the transaction is subject to the remaining conditions precedent. See “Woodside simplifies portfolio and unlocks long-term value” announced on 19 December 2024.
8 The project has received funding from the Hydrogen Fuelled Transport Project Funding Process as part of the Western Australian Government’s Renewable Hydrogen Strategy.
9 Completion of the transaction is subject to the remaining conditions precedent. See “Woodside rationalises global portfolio with Calypso divestment”.
10 Feed gas volumes purchased from Pluto non-operating participants processed through the Pluto-KGP Interconnector are reported under Production (processing). Comparatives have been restated on the same basis.
11 Includes the aggregate Woodside equity domestic gas production from all Western Australian projects.
12 Overriding royalty interests held in the USA for several producing wells.
13 Feed gas volumes purchased from Pluto non-operating participants processed through the Pluto-KGP Interconnector, and represents 10% of Pluto-KGP Interconnector volumes.
14 Beaumont New Ammonia production volume is 72.4 kT in Q3 2026 and 351.3 kT in YTD 2026.
15 Includes the aggregate Woodside equity domestic gas production from all Western Australian projects.
16 Restated additional volumes of 0.09 MMboe in Q3 2025 and 0.28 MMboe in YTD 2025 to reflect a revised MMBtu to boe conversion factor.
17 Overriding royalty interests held in the USA for several producing wells.
18 Beaumont New Ammonia sales volumes are 94.2 kT in Q3 2026 and 352.5 kT YTD 2026.
19 Purchased volumes sourced from third parties.
20 Includes the impact of periodic adjustments related to the production sharing contract (PSC).
21 Includes revenue from Beaumont New Ammonia and overriding royalty interests held in the USA for several producing wells.
22 Values include revenue generated from purchased LNG and Liquids volumes, as well as the marketing margin on the sale of Woodside’s produced LNG and Liquids portfolio. Marketing revenue excludes hedging impacts and cargo swaps where a Woodside produced cargo is sold and repurchased from the same counterparty to optimise the portfolio. The margin for these cargo swaps is recognised net in other income.
23 Operating revenue excludes all hedging impacts.
24 Excludes any additional benefit attributed to produced volumes through third-party trading activities.
25 Sales volumes have been restated to reflect volumes sold in MMBtu at a revised boe conversion factor impacting realised price by -$0.6/Mcf for International pipeline gas in Q3 2025.
26 Project final investment decisions result in amounts of previously capitalised exploration and evaluation expense (from current and prior years) being transferred to property plant & equipment. This table does not reflect the impact of such transfers.
27 Other incorporates Louisiana LNG cash call payments to Williams for Driftwood Pipeline LLC, corporate spend, other investments and other capital expenditure.
28 Louisiana LNG YTD 2026 project spend includes $185 million of prepayments recognised in investing cash flow that are recoverable through partner cash calls but are not yet recognised as capital expenditure.
29 Exploration capitalised represents expenditure on successful and pending wells, plus permit acquisition costs during the period and is net of well costs reclassified to expense on finalisation of well results.
30 Includes seismic and general permit activities and other exploration costs.
31 Well depths are referenced to the rig rotary table.
32 Woodside share reflects the net realised interest for the period.
33 The Wheatstone asset processes gas from several offshore gas fields, including the Julimar and Brunello fields, for which Woodside has a 65% participating interest and is the operator.
34 Includes the aggregate Woodside equity domestic gas production from all Western Australian projects.
35 Woodside share reflects the net realised interest for the period.
36 Operations governed by production sharing contracts.
37 Beaumont New Ammonia production rate was 0.8 kT/d in Q3 2026.
This announcement was approved and authorised for release by Woodside’s Disclosure Committee.