Australia: Woodside Posts Record Sales Revenue

LNG player Woodside of Australia said it has achieved record production and sales revenue in the third quarter, with production volumes of 26.5 million barrels of oil equivalent (MMboe) and sales revenue of US$1,828 million.

Woodside recorded a 32% increase in production compared to the prior quarter, largely due to the continued high reliability of Pluto LNG since its start up in March, coupled with the ongoing strong performance of the foundation business.

The higher production numbers have resulted in a further increase in Woodside’s 2012 production target, which has been amended to a range between 83 and 86 MMboe.

“The record quarter production and sales revenue were underpinned by our operations team continuing to deliver in a safe and reliable manner,” the company’s CEO and Managing Director Peter Coleman said.

“With strong cash flows and the completion of the US$2 billion sale of a minority portion of Woodside’s interest in the proposed Browse LNG Development, Woodside’s balance sheet continues to strengthen.”

[mappress]

LNG World News Staff, October 18, 2012