PERTH (miningweekly.com) – Australian oil and gas major Woodside has reported a near 20% increase in third-quarter revenue, as a number of liquid natural gas (LNG) production records were set.
The company produced 25.2-million barrels of oil equivalent during the September quarter, which is an increase of 13.5% on the previous quarter, as record quarterly LNG production was reached at the Karratha gas plant and at the Pluto LNG project, both in Western Australia.
The restart of full production at the North West Shelf facilities also boosted production, following a planned turnaround in the second quarter, and resulting in increased capacity.
“We set a number of production records this quarter, driven by excellent LNG capacity and reliability, which contributed to a 20% quarter-on-quarter revenue increase,” Woodside CEO Peter Coleman said on Thursday.
Sales volumes for the quarter were up by 20.4%, to 25.4-million barrels of oil equivalent, increasing sales volumes from A$825-million in the June quarter to A$988-million in the quarter under review.
Meanwhile, Woodside narrowed its full-year production guidance to between 92-million and 95-million barrels of oil equivalent.