April 29, 2026 [Investing.com]- Woodside Energy Group Ltd (NYSE:WDS) reported first quarter revenue of $3.26 billion, surpassing the analyst consensus estimate of $3.06 billion on Wednesday. Revenue declined 2% compared to $3.32 billion in the same quarter last year.

Shares of the company rose 2.36% in pre-market trading following the results.

The company delivered quarterly production volumes of 45.2 MMboe, down 8% from the fourth quarter of 2025 due to seasonal weather events, including Severe Tropical Cyclone Mitchell and Severe Tropical Cyclone Narelle that impacted Western Australian operations.

Despite the weather disruptions, several assets demonstrated exceptional reliability, with Sangomar achieving 99.9%, Shenzi at 99.0%, and Pluto LNG reaching 100% reliability for the third consecutive quarter.

Woodside achieved an average realized quarterly price of $63 per barrel of oil equivalent, up 11% from the fourth quarter of 2025, reflecting benefits from higher market prices.

CEO Liz Westcott said, “Production for the period was 45.2 million barrels of oil equivalent, underpinned by exceptional reliability of our world-class assets, including 99.9% at Sangomar and 99.0% at Shenzi.”

The company maintained its full-year 2026 production guidance of 172-186 MMboe and capital expenditure guidance of $4.0-4.5 billion.

The Scarborough Energy Project reached 96% completion and remains on budget and on track for first LNG cargo in the fourth quarter of 2026. The Louisiana LNG project progressed to 24% complete, with Train 1 at 31% complete, targeting first LNG in 2029.

Woodside assumed operational control of the Beaumont New Ammonia facility in March 2026 following completion of performance testing, with the facility achieving first ammonia cargo in February.