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Woodside Petroleum reports increase in Q4'18 production, revenue

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Woodside Petroleum reports increase in Q4'18 production, revenue

Australia's Woodside Petroleum Ltd. reported fourth-quarter ended Dec. 31, 2018, revenue of $1.56 billion, up from $1.09 billion during the same period in 2017.

According to a Jan. 17 report filed with Australian Securities Exchange, total sales revenue for the quarter was pegged at $1.42 billion, climbing from $990 million in the same quarter in 2017.

Production for the quarter ended Dec. 31, 2018 was 24.25 million barrels of oil equivalent, rising from 21.64 MMboe during the same quarter in 2017.

Capex for the fourth quarter ended Dec. 31, 2018 decreased to $302 million compared to the $346 million seen during the fourth quarter of 2017.

Looking ahead, Woodside's production guidance for 2019 was set at 88 MMboe to 94 MMboe while its investment expenditure guidance was pegged at $1.6 billion to $1.7 billion.