Woodside Energy (ASX:WDS) booked a first-quarter production dip of 8% as seasonal weather patterns took their toll on Western Australian operations.
Output for the period fell to 45.2 million barrels of oil equivalent, a decline primarily attributed to the regional impact of severe tropical Cyclone Narelle.
Despite the atmospheric challenges, the energy giant maintained an enviable standard of operational reliability, with the Pluto LNG facility delivering 100% reliability for its third consecutive quarter.
The production slide was partially offset by a robust financial silver lining, as average realised prices climbed 11% to US$63 per barrel.
While contract lags mean the full benefit of recent spot LNG price surges has yet to hit the books, Woodside expects these gains to flow through in the coming quarters.
Safe management of the cyclone-induced shutdowns ensured no material operational damage occurred, allowing the North West Shelf and other core assets to maintain availability rates above 99%.
On the development front, Woodside’s flagship growth projects continue to march towards the finish line.
The Scarborough Energy Project has reached a critical milestone, now 96% complete and firmly on track for its first LNG cargo in the fourth quarter of 2026.
International expansion continues apace, with the Louisiana LNG Train 1 project reaching 31% completion.