Woodside Energy has announced its fourth-quarter results for the period ending 31 December 2025 (Q4 2025), highlighting a 3% increase in its annual production to 198.8 million barrels of oil equivalent (mboe), compared to 193.9mboe in 2024.
This performance exceeded the company’s production guidance of 192–197mboe, driven by sustained production at the Sangomar field and 100% reliability at Pluto LNG during the latter half of the year (H2).
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In Q4 2025, Woodside reported production of 48.9mboe, a 4% decrease from the previous quarter, attributed to seasonal weather conditions and reduced demand on Australia’s east coast.
In terms of financial performance, the Australia-based energy company’s Q4 revenue was $3.03bn, a decrease from the previous quarter, attributed to lower production and realised prices. The average realised price for the quarter was $57 per barrel of oil equivalent, reflecting a 5% decline from Q3.
The company’s revenue for the full year 2025 was $12.98bn, a 1% decrease compared to 2024.
Leadership changes were announced during Q4 with Liz Westcott appointed as acting CEO following the resignation of Meg O’Neill. The company is expected to announce a permanent CEO appointment in Q1 2026.
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By GlobalDataFor the ongoing year, Woodside projects production volumes of between 172 and 186mboe. This includes hydrocarbons and Beaumont New Ammonia volumes.
A major turnaround is planned for Pluto LNG Train 1 in Q2, expected to last approximately five weeks.
Capital expenditure (capex) for 2026 is projected to be between $4bn and $4.5bn, with significant allocations to the Louisiana LNG, Scarborough and Trion projects.
Westcott said: “We achieved record annual production of 198.8mboe in 2025. This performance was driven by sustained plateau production at Sangomar through late October and Pluto LNG operating at 100% reliability for the second half of the year.
“In recent days we marked a special milestone for the Scarborough Energy Project with the safe arrival of the floating production unit at the field and commencement of hook-up activities.”
According to Woodside, the Scarborough Energy Project in Australia was 94% complete by the end of 2025. With the arrival of the floating production unit and the hook-up activities in progress, the project is on track for its first liquefied natural gas (LNG) cargo in Q4 2026.
In the US, Woodside advanced its Louisiana LNG Project, which was 22% complete at the end of the quarter. The project is targeting first LNG production in 2029.
A strategic partnership was formed with Williams, involving the sale of a 10% interest in Louisiana LNG and an 80% interest in Driftwood Pipeline. This transaction is expected to constitute approximately $1.9bn in capex.
The Trion Project in Mexico reached 50% completion, with significant progress in hull assembly and equipment installation. The project remains on schedule for first oil in 2028.
Meanwhile, the Greater Western Flank Phase 4 Project on the North West Shelf was approved, extending production by approximately one year.
Woodside also reported on its marketing activities, having secured long-term LNG supply agreements with SK Gas International, BOTAŞ and JERA. These agreements are expected to enhance Woodside’s global LNG portfolio.
