Woodside Energy realized price jumps 11% amid major project milestones

Woodside Energy Group (NYSE:WDS) reported its first-quarter 2026 results on Wednesday, April 29, 2026, highlighting a period of robust realized pricing and critical progress across its global development pipeline.

The Perth-based energy major achieved an average realized quarterly price of $63 per barrel of oil equivalent (boe), an 11% increase from the fourth quarter of 2025, benefiting from favorable global market price movements.

Operational reliability remained a core strength during the period, with the Sangomar, Shenzi, North West Shelf Project, and Pluto LNG facilities all delivering reliability at or above 99%.

However, total quarterly production volumes of 45.2 MMboe (502 Mboe/d) represented an 8% decline from the previous quarter.

This dip was primarily attributed to seasonal weather events, specifically the impact of Severe Tropical Cyclones Mitchell and Narelle, which required a temporary suspension and subsequent safe restoration of Western Australian operations.

The company’s flagship Scarborough Energy Project moved closer to its final investment milestone, reaching 96% completion.

The project remains on budget and on schedule for its first LNG cargo in the fourth quarter of 2026.

A major logistical milestone was reached as the Scarborough Floating Production Unit (FPU) completed its hook-up and commenced topside commissioning following its arrival in Australian waters.

The quarter also marked a significant leadership transition with the appointment of Liz Westcott as Chief Executive Officer and Managing Director.

Westcott takes the helm as the company balances its massive capital expenditure program with a commitment to delivering reliable energy and long-term shareholder value.