Woodside Energy Group Limited (WDS)

Woodside agreed on 27 October 2026 to sell its stake in the Greater Sunrise gas fields to TIMOR GAP for up to $200 million 1. Only US$13.71 million is payable on completion, which the company targets for the first half of 2027 1. The rest depends on a development decision and on the first LNG cargo from the fields 1.

The third quarter report, released on 21 October 2026, showed operating revenue of $4,281 million, up 2 percent on the second quarter 2. Production was 46.2 million barrels of oil equivalent, up 12 percent, as the Pluto LNG plant came back from maintenance 2. That is still 9 percent below a year earlier 2.

The Scarborough gas project, which will feed the Pluto LNG plant, was 99 percent complete, and the company says its first LNG cargo is on track for this year 2. The open questions are whether the Sunrise sale and two other pending deals complete, and what the Capital Markets Day on 5 November 2026 adds 21.

Woodside was registered under Australian law in 1971 and listed on the Australian Securities Exchange on 18 November 1971 3. It renamed itself Woodside Energy Group in May 2022, effective 20 May 2022, and its results include the interests it acquired in the merger with BHP's petroleum business from 1 June 2022 3.

Operating revenue, the money from selling oil and gas, was $13,994 million in 2023, $13,179 million in 2024 and $12,984 million in 2025 3. Gross profit, revenue minus the cost of sales, fell from $6,475 million in 2023 to $4,536 million in 2025 3.

Revenue fell $815 million, or 6 percent, in 2024 3. The company blamed lower oil and gas benchmark prices and natural decline at the Bass Strait and North West Shelf fields, partly offset by the start of production at the Sangomar field in Senegal 3.

In 2024 it also bought Tellurian, which owned the Louisiana LNG development, for $876 million in cash 3. The deal closed on 8 October 2024 3. It bought the Beaumont New Ammonia project from OCI for $2,350 million in cash, completed on 30 September 2024 3.

Revenue slipped $195 million, or 1 percent, in 2025 3. The company pointed to lower oil price markers, natural decline at the North West Shelf and the sale of the Greater Angostura assets, offset by a full year of Sangomar 3. Profit after tax fell from $3,646 million in 2024 to $2,737 million in 2025 3.

On 29 April 2025 the board approved the final investment decision on Louisiana LNG, an export plant in the United States 3. Stonepeak agreed on 7 April 2025 to buy 40 percent of Louisiana LNG Infrastructure LLC, which completed on 25 June 2025 for $1,876 million 3. Williams completed a purchase of 80 percent of Driftwood Pipeline LLC and 10 percent of Louisiana LNG LLC on 23 October 2025 for $370 million 3.

On 19 December 2024 it agreed with Chevron to take Chevron's 16.7 percent of the North West Shelf and give up its 13.0 percent of Wheatstone and 65.0 percent of Julimar-Brunello 3. The third quarter report assumes that swap completes in the fourth quarter of 2026 2.

What it sells

Woodside sells LNG, pipeline gas, crude oil and condensate and natural gas liquids 3. In 2025 it earned $5,960 million from LNG, $1,324 million from gas sold by pipeline, $5,257 million from crude oil and condensate and $241 million from natural gas liquids 3. Its Australian segment brought in $7,501 million of revenue and its International segment $4,069 million 3.

Gas in Australia

The North West Shelf, Pluto and Wheatstone are its Australian LNG projects, LNG being gas cooled into a liquid so ships can carry it 2. In the third quarter Pluto ran at 99.8 percent reliability and the North West Shelf at 99.3 percent 2. Woodside took over operating the Bass Strait fields from ExxonMobil on 1 July 2026 2.

Oil and the Gulf of America

Sangomar in Senegal averaged 94 thousand barrels a day, 73 thousand of them Woodside's share, with reliability of 99.2 percent 2. In the US Gulf of America it works the Atlantis, Mad Dog and Shenzi fields, and it is building the Trion project in Mexico, which was 71 percent complete 2.

Louisiana LNG and ammonia

Louisiana LNG was 32 percent complete, with Train 1 at 41 percent, and the company targets first LNG in 2029 2. The Beaumont ammonia plant ran at 69 percent of nameplate capacity after a 30 day stop following a serious process safety event, and Woodside will start a formal process to reduce its investment 2.

People and problems

Liz Westcott is the chief executive 2. The company recorded three process safety events in the quarter, and three legal proceedings over the North West Shelf extension approvals had hearings in July 2026 with decisions reserved 2.

The umbrella, in words

Woodside Energy Group Ltd is the parent, and its filed subsidiaries include Woodside Energy Ltd, Pluto LNG Pty Ltd and Burrup Facilities Company Pty Ltd 3. It owns 74.9 percent of Scarborough, 51 percent of Pluto Train 2 and 60 percent of Trion 2. Stonepeak holds 40 percent of Louisiana LNG Infrastructure LLC while Woodside keeps control 3.

Woodside owns the Beaumont ammonia business it bought from OCI, and a 40 percent non-operated interest in the Tiba licence in Egypt 32. The annual report names its large holders in the shareholder statistics of Section 6.4, which this page does not repeat 3.

For 2026 the company guides to total production of 174 to 181 million barrels of oil equivalent, narrowed from 174 to 185, and capital spending of $4,000 to $4,500 million 2. It expects the first Scarborough LNG cargo in the fourth quarter of 2026 and the Chevron swap and the Calypso sale to bp in the same quarter 2.

The Sunrise sale is targeted to complete in the first half of 2027 1. Trion first oil is targeted for 2028 and Louisiana LNG first LNG for 2029 2. The cost reduction program targets a $350 million lower recurring cost base from 2028 against the 2025 baseline 2.

Capital Markets Days are set for 5 November 2026 in Australia and 12 November 2026 in New York, and the fourth quarter report for 28 January 2. A hearing in the Supreme Court of Western Australia on the State approval for the North West Shelf is scheduled for the fourth quarter of 2026 2.