Woodside Energy outlines strategy targeting US$40B cash flow

Woodside Energy Group (ASX:WDS) outlined plans to target more than US$40 billion in adjusted operating cash flow between 2027 and 2032 alongside a new capital framework.

The strategy follows recent multi-basin liquefied natural gas project milestones, contrasting with prior operational phases by prioritising tighter capital allocation.

"We have returned nearly US$13 billion to shareholders since 2022 while building a portfolio positioned to generate strong cash flows into the next decade," said Woodside CEO and Managing Director Liz Westcott.

The company stated that its Scarborough project is 99% complete and on track for first LNG cargo this year, while targeting US$400 million of annual structural cost reductions from 2028.

Woodside stated that these measures are expected to support sales volume growth of more than 30% to approximately 280 million barrels of oil equivalent in 2032.

Following the announcement, the Woodside Energy share price was up at $32.55.

The energy producer has historically returned nearly US$13 billion to shareholders since 2022 while developing its global deepwater oil and liquefied natural gas portfolio.