Woodside Energy (ASX:WDS) has reported a slight dip in its headline reserves for the 2025 fiscal year, as the impact of annual production and strategic divestments outweighed new additions.
The energy giant confirmed that its proved reserves ended the year at 1,882.1 million barrels of oil equivalent, down from the 1,975.7 MMboe recorded the previous year.
Despite the lower total volume, the report highlighted significant underlying growth.
Excluding the effects of asset sales and yearly production, Woodside actually boosted its proved reserves by 134.1 MMboe.
The organic growth—driven by reservoir performance updates and new project sanctions—helped cushion a broader decline in proved plus probable reserves, which settled at 2,999.5 MMboe.
At current output levels, Woodside maintains a proved reserves life of 8.9 years, while its 2P reserves extend that runway to 14.2 years.