Woodside Energy (ASX:WDS) announced a record annual production of 198.8 million barrels of oil equivalent for the 2025 full year, averaging 545 Mboe per day.
The operational peak was primarily driven by the Sangomar field, which operated at its nameplate capacity of 100,000 barrels per day for much of the period, alongside high reliability at the Pluto LNG and North West Shelf Project assets.
Despite the production volume exceeding initial guidance, the company’s financial results were impacted by lower realised prices.
Woodside reported a net profit after tax of US$2.72 billion, representing a 24% decrease compared to 2024.
Underlying NPAT, which excludes certain non-recurring items, fell by 8% to US$2.65 billion.
Additionally, the company reported a free cash flow of US$1.9 billion for the year.
The directors determined a final dividend of 59 US cents per share.
This brings the total fully franked dividend for 2025 to $1.12, maintaining a payout ratio of 80% with a total value of US$2.1 billion.
Woodside reduced its unit production costs by 4% to US$7.8 per barrel.
The company also highlighted its safety record, noting that no high-consequence injuries occurred during the year.
Milestones included 18 months of injury-free operations at Sangomar and three years without a lost-time incident at the Scarborough floating production unit.