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Woodside Petroleum Q4'19 revenue sags YOY

Australian oil and gas company Woodside Petroleum Ltd. on Jan. 16 reported revenue of $1.45 billion for the fourth quarter of 2019, down from $1.56 billion in the fourth quarter of 2018.

Product sales for the quarter totaled 26.9 million barrels of oil equivalent, up from 24.2 million boe during the prior-year quarter. However, Woodside Petroleum noted an average realized price of $48/boe, down substantially from $59/boe a year ago.

Capital expenditures for the quarter totaled $327 million, increasing from $302 million a year ago.

The company's share in fourth-quarter production was pegged at 25.7 million boe compared to 24.1 million boe during the fourth quarter of 2018.