Woodside Energy (NYSE: WDS) grows Q1 revenue as Scarborough hits 96% complete

Rhea-AI Filing Summary

Woodside Energy Group reported first-quarter 2026 operating revenue of $3,261 million, up 7% on the prior quarter but slightly below the same period last year. Production was 45.2 MMboe, down 8% year-on-year, while sales volumes reached 51.7 MMboe.

The average realised price increased to $63/boe, 11% higher than the prior quarter, helped by stronger spot markets. Full-year 2026 guidance for production, capital, abandonment, exploration spending and costs was reaffirmed with no changes.

Woodside highlighted progress on key growth projects. The Scarborough Energy Project is 96% complete and targeting first LNG in Q4 2026. The Trion oil project is 56% complete and aiming for first oil in 2028, while Louisiana LNG Train 1 is 31% complete. Beaumont New Ammonia shipped its first cargo in February and moved to full operational control in March.

Key Figures

Operating revenue: $3,261 million Production volumes: 45.2 MMboe Sales volumes: 51.7 MMboe +5 more

8 metrics

Operating revenue $3,261 million Q1 2026

Production volumes 45.2 MMboe Q1 2026, down 8% vs Q1 2025

Sales volumes 51.7 MMboe Q1 2026, up 3% vs Q1 2025

Average realised price $63/boe Q1 2026, up from $57 in Q4 2025

Capital expenditure $853 million Q1 2026

Total capex and acquisitions $1,323 million Q1 2026

Scarborough completion 96% Project completion status in Q1 2026

Trion completion 56% Project completion status in Q1 2026

Key Terms

MMboe, average realised price, gas hub exposure, production sharing contracts, +1 more

5 terms

MMboe financial

"Production for the period was 45.2 million barrels of oil equivalent"

mmboe stands for million barrels of oil equivalent, a unit that converts different forms of energy (natural gas, condensates and other hydrocarbons) into the energy value of one million barrels of crude oil. Investors use mmboe to compare production, reserves and project size across companies and assets—like using a single currency to add apples and oranges—so it helps gauge potential supply, future revenue and company scale.

average realised price financial

"Average realised price increased 11% from the prior quarter"

gas hub exposure financial

"Gas hub exposure 2 % ~30 No change"

production sharing contracts financial

"Operations governed by production sharing contracts."

Production sharing contracts are agreements between a government and an energy company that define how revenue or physical output from an oil or gas project is divided after production costs are recovered. For investors, they matter because the split, cost recovery rules and fiscal terms determine how much of the project's revenue the company keeps versus what goes to the state — like a recipe that dictates how a cake is baked and who gets which slices.

Pluto-KGP Interconnector technical

"Feed gas volumes purchased from Pluto non-operating participants processed through the Pluto-KGP Interconnector."

Form 6-K: How Foreign Companies Report to the SEC →

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of April 2026

Commission File Number: 001-41404

Woodside Energy Group Ltd

(ABN 55 004 898 962)

(Registrant’s name)

Woodside Energy Group Ltd

Mia Yellagonga, 11 Mount Street

Perth, Western Australia 6000

Australia

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☑   Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

EXHIBIT INDEX

Exhibit No.		Description
99.1		A copy of the registrant’s ASX Announcement, dated April  29, 2026, entitled “First Quarter 2026 Report”.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Dated: April 29, 2026

WOODSIDE ENERGY GROUP LTD
By:		/s/ Damien Gare
		Damien Gare Corporate Secretary

Exhibit 99.1

FIRST QUARTER REPORT FOR PERIOD ENDED 31 MARCH 2026

ASX: WDS | NYSE: WDS

Wednesday, 29 April 2026

Advancing growth and delivering reliable energy

Performance highlights

• Sangomar, Shenzi, North West Shelf Project and Pluto LNG all delivered outstanding reliability at or above 99%.

• Achieved an average realised quarterly price of $63/boe, up 11% from Q4 2025 reflecting benefits from market prices.

• Delivered quarterly production volumes of 45.2 MMboe (502 Mboe/d), down 8% from Q4 2025 due to seasonal weather events.

Project highlights

• The Scarborough Energy Project was 96% complete and remains on budget and on track for first LNG cargo in Q4 2026.

• The Scarborough Floating Production Unit (FPU) completed hook-up and commenced topside commissioning following its arrival in Australia.

• Beaumont New Ammonia achieved first ammonia cargo in February, with Woodside assuming operational control in March.

• The Trion Project progressed to 56% complete and remains on budget and targeting first oil in 2028.

• The foundation phase of Louisiana LNG Project remains on budget and on schedule. The project was 24% complete with Train 1 31% complete. The project is targeting first LNG in 2029.

Business and portfolio highlights

• Liz Westcott appointed as CEO and Managing Director.

• Safe restoration of Western Australian operations following Severe Tropical Cyclone Mitchell and Severe Tropical Cyclone Narelle.

2026 full-year guidance						Prior					Current
Total production volumes1		MMboe						172-186			No change
Gas hub exposure2		%						~30			No change
Capital expenditure3456		$ million						4,000 - 4,500			No change
Abandonment expenditure		$ million						500 - 800			No change
Exploration expenditure		$ million						~200			No change
Production costs		$ million						1,500 - 1,800			No change
Feed gas, services and processing costs		$ million						500 - 600			No change
Property, plant and equipment depreciation and amortisation		$ million						4,200 - 4,700			No change

¹ Total production volumes includes 2-3 MMboe from Beaumont New Ammonia.

² Gas hub indices include Japan Korea Marker (JKM), Title Transfer Facility (TTF) and National Balancing Point (NBP). It excludes Henry Hub. Presented on a three-year average for 2026-2028. Includes binding sales and purchases agreements only, Woodside’s equity share of Scarborough and Pluto LNG, Corpus Christi offtake volumes and assumes the Chevron asset swap is completed.

³ Louisiana LNG (90% Louisiana LNG LLC, 60% Louisiana LNG Infrastructure LLC and 20% Driftwood Pipeline LLC) capital expenditure adjusted for the cash contributions from Stonepeak and Williams.

⁴ Scarborough at 74.9% participating interest, Pluto Train 2 at 51% participating interest.

⁵ Trion at 60% participating interest.

⁶ Completion of the asset swap with Chevron assumed in H2 2026. Woodside’s equity interests at current participating interests prior to the completion for NWS Project, NWS Oil Project, Wheatstone, Julimar-Brunello and Angel CCS assets.

  1       First quarter report for period ended 31 March 2026  

Woodside CEO Liz Westcott said the company maintained safe and reliable operations across its global portfolio during the first quarter, while continuing to execute major projects to budget and schedule.

“Production for the period was 45.2 million barrels of oil equivalent, underpinned by exceptional reliability of our world-class assets, including 99.9% at Sangomar and 99.0% at Shenzi. In Western Australia, Pluto LNG achieved 100% reliability for the third consecutive quarter, while the North West Shelf Project delivered 99.7%.

“Output from our Western Australian assets was impacted late in the quarter by Severe Tropical Cyclone Narelle. The team’s cyclone response ensured we maintained the safety of our people, assets and the environment throughout the shutdown and restoration of operations.

“We have seen modest increases to our portfolio average realised pricing in the quarter, driven by elevated spot prices. Further benefits of currently higher spot prices will be realised in subsequent quarters for LNG due to lagged contract pricing.

“We continued disciplined delivery of major cash-generative growth projects. Our Scarborough Energy Project is 96% complete and on target for first LNG cargo in the fourth quarter of 2026.

“During the period, we also progressed preparations for the Pluto turnaround scheduled for May, supporting long-term asset performance, and advancing readiness for Scarborough start-up.

“We reached key milestones during the quarter at Beaumont New Ammonia, achieving first ammonia cargo in February followed by the successful transition to full operational control of the facility in March.

“We commenced the drilling campaign at Trion, and completed the lift and installation of two topside modules onto the FPU. The project is 56% complete and targeting first oil in 2028.

“Construction at the Louisiana LNG project is progressing well, with structural steel erection, pipe installation, LNG tank construction and marine works underway. Louisiana LNG Train 1 is 31% complete.

“The drilling and completion of the Julimar Development Phase 3 wells was delivered, marking another milestone ahead of the asset swap with Chevron in H2 2026.

“At the time of my appointment in March, I said my focus would be on operational excellence, disciplined execution and sustainable value creation for Woodside shareholders. Cost discipline is essential to sustainable shareholder value creation and we are commencing a structured review of our business to streamline decision making, reduce complexity and improve accountability. We expect this will deliver benefits through improved organisational effectiveness and capital management without compromising safety, execution or operational reliability.

  2       First quarter report for period ended 31 March 2026  

Comparative performance at a glance

				Q1  2026		Q4  2025		Change  %		Q1  2025		Change %		YTD  2026		YTD  2025		Change  %
Operating revenue		$ million		3,261		3,035		7%		3,315		(2%)		3,261		3,315		(2%)
Production volumes7		MMboe		45.2		48.9		(8%)		49.1		(8%)		45.2		49.1		(8%)
Gas		MMscf/d		1,578		1,709		(8%)		1,841		(14%)		1,578		1,841		(14%)
Liquids		Mbbl/d		221		232		(5%)		223		(1%)		221		223		(1%)
Ammonia		kT/d		1		—		—%		—		—%		1		—		—%
Total		Mboe/d		502		531		(5%)		546		(8%)		502		546		(8%)
Sales volumes8		MMboe		51.7		52.4		(1%)		50.3		3%		51.7		50.3		3%
Gas		MMscf/d		2,016		1,924		5%		1,968		2%		2,016		1,968		2%
Liquids		Mbbl/d		218		232		(6%)		213		2%		218		213		2%
Ammonia		kT/d		1		—		—%		—		—%		1		—		—%
Total		Mboe/d		575		569		1%		559		3%		575		559		3%
Average realised price7		$/boe		63		57		11%		64		(2%)		62		64		(3%)
Capital expenditure and acquisitions		$ million		1,323		822		61%		1,806		(27%)		1,323		1,806		(27%)
Capital expenditure		$ million		853		822		4%		1,806		(53%)		853		1,806		(53%)
Acquisitions		$ million		470		—		—		—		—%		470		—		—%

⁷ Percent change in total production may differ from percent change in daily production due to the number of days in each quarter.

⁸ Restated additional volumes of 0.09 MMboe in Q1 2025 to reflect a revised MMBtu to boe conversion factor, impacting realised price by -$1/boe in Q1 2025.

  3       First quarter report for period ended 31 March 2026  

Operations

Pluto LNG

• Achieved third consecutive quarterly LNG reliability of 100%.

• Safely restarted offshore facilities following Severe Tropical Cyclone Mitchell.

• Continued preparation for the maintenance turnaround scheduled for May 2026.

• Completed drilling of the XNA-03 infill well which is targeting start-up in H2 2026.

North West Shelf (NWS) Project

• Achieved quarterly LNG reliability of 99.7%.

• Safely restarted onshore and offshore facilities following Severe Tropical Cyclone Mitchell and Severe Tropical Cyclone Narelle.

• Processed higher volumes of Waitsia gas, driven by the continued ramp-up of Waitsia Stage 2.

• Advanced preparation for the scheduled one-train LNG maintenance campaign planned for September 2026.

Wheatstone and Julimar-Brunello

• Drilling and completion of the Julimar Development Phase 3 wells was achieved. Start-up is targeting H2 2026.

• LNG production at Wheatstone was impacted following an unplanned outage caused by Severe Tropical Cyclone Narelle. Production is partially restored, with return to normal operation expected by the end of April.

• Decommissioning of five Julimar Brunello exploration wells is planned for H2 2026, as a condition precedent for the asset swap with Chevron.

• Completion of the asset swap with Chevron is targeted for H2 2026.⁹

⁹ Completion of the transaction is subject to conditions precedent. See “Woodside simplifies portfolio and unlocks long-term value” announced on 19 December 2024.

  4       First quarter report for period ended 31 March 2026  

Bass Strait

• Completion of the transfer of operatorship of the Bass Strait assets from ExxonMobil Australia to Woodside is targeting H2 2026.¹⁰

• Delivered reliability of 89.4% during the quarter, and completed planned shutdowns of the Snapper and West Tuna platforms ahead of schedule.

• Completed drilling two of five wells for the Turrum Phase 3 project, with drilling targeting completion in H2 2026.

¹⁰ Completion of the transaction is subject to conditions precedent. See “Woodside strengthens its Australian Operations” announced on 29 July 2025.

  5       First quarter report for period ended 31 March 2026  

Other Australia

• The Okha FPSO disconnected in late March 2026 ahead of scheduled shipyard activity in Q2 2026.

• The Pyrenees FPSO is scheduled to undertake shipyard activity in Q4 2026.

Sangomar

• Achieved an average daily production rate of 99 Mbbl/d (100% basis, 80 Mbbl/d Woodside share) with reliability of 99.9%.

• The Sangomar FPSO continues to demonstrate high reliability and the overall Sangomar reservoir continues to perform better than expected.

• Optimisation of wells online and line-up of flowlines and system hydraulics have enabled maintained strong production through the quarter, however we expect to see oil rates decline over the remainder of 2026.

United States of America

• Shenzi completed field production optimisation initiatives including flowline pressure reduction for sustained production rate increase and achieved reliability of 99.0%.

• Commenced water injection from a new well at Atlantis.

• Successfully commenced production from the third and final Argos Southwest Extension well, completing the three-well subsea tieback that began in August 2025. The project is expected to contribute approximately 20 Mbbl/d of gross (100% basis, ~5 Mbbl/d Woodside share) peak annualised average oil production.

Beaumont New Ammonia

• Assumed operational control of the Beaumont New Ammonia facility in March 2026 following completion of performance testing and handover from OCI Global and final payment of $470 million.

• Achieved first ammonia cargo in February 2026, with 2026 sales comprising a combination of spot and term cargoes supplied to domestic US barges and international seaborne vessels.

• Due to delays at third-party industrial gas suppliers, we are targeting production of lower-carbon ammonia in 2027.

Marketing

• There have been no disruptions to Woodside’s trading activities as a result of the conflict in the Middle East, with shipping operations continuing as planned.

• Revenue and trading:

^○  Continued strong LNG demand for spot cargoes from the Woodside portfolio at market prices.

^○  LNG realised prices broadly flat compared to the prior quarter due to price lags.

^○  Approximately 51% of LNG sold was linked to gas hub indices in the quarter.

^○  Interruptions have increased the demand for crude products resulting in higher spot market prices.

• Shipping:

^○  Woodside has a strategy of securing term shipping for annual average delivery commitments and therefore has limited exposure to volatile spot LNG carrier rates.

^○  Woodside does not currently have any controlled shipping that traverses Iranian waters or the Straits of Hormuz. Woodside trade routes are not subject to increased security risk.

• Executed incremental pipeline gas sales of:

^○  Approximately 1 PJ to be delivered to the Western Australian market in 2026.

^○  8.1 PJ to be delivered to the East Coast market across 2026, 2027 and 2028.

• Woodside continues to engage with the Western Australian market on additional spot supply in 2026 and requirements for 2027 and onwards.

  6       First quarter report for period ended 31 March 2026  

Projects

Scarborough Energy Project

• The Scarborough and Pluto Train 2 projects remain on budget and were 96% complete at the end of the quarter (excluding Pluto Train 1 modifications).

• The FPU was moored at the Scarborough field and hook-up of the umbilical and all subsea risers was successfully completed. Topsides commissioning activities are in progress.

• Subsequent to the period, the Scarborough FPU was registered as a security regulated offshore facility by the Department of Home Affairs.

• Construction and commissioning activities at the Pluto Train 2 site continued, first ignition of the additional gas turbine generator was achieved and preparation is underway for the first run of the liquefaction compressors.

• The first two of three modules built for the Pluto Train 1 modifications project departed the fabrication yard in Thailand and, subsequent to the quarter, arrived at the Pluto site.

• Civil, structural, and piping works advanced at the Pluto site, with a focus on preparing for activities to be completed during the Pluto LNG Train 1 major turnaround scheduled for May 2026.

• First LNG cargo is on track for Q4 2026.

Trion

• The Trion Project remains on budget and was 56% complete at the end of the quarter.

• Drilling of 24 subsea wells commenced in March 2026.

• Subsea equipment is on track for Q3 2026 installation.

• FPU construction reached key milestones, with hull structural fabrication completed and two 6,000-metric-ton topside modules successfully lifted and installed.

• Floating storage and offloading structural block fabrication continued, with the disconnectable turret mooring buoy largely complete and mating tests finished.

• The Middle East conflict is currently not having any material impact on cost or schedule for Trion.

• The Trion Project is targeting first oil in 2028.

Louisiana LNG

• The foundation phase of Louisiana LNG, comprising three trains, reached 24% complete at the end of the quarter and remains on budget.

• Key milestones achieved during the period included progression of the LNG tanks and the commencement of dredging activities.

• Train 1 was 31% complete at the end of the quarter. During the period, structural steel erection progressed and the first piping was installed in the Train 1 rack.

• Trains 2 and 3 were 22% and 14% complete respectively at the end of the quarter, with piling installation completed for Train 2 and commenced for Train 3.

• Transition of Driftwood Pipeline LLC operatorship to Williams completed.

• Bechtel is sourcing Louisiana LNG structural steel from the United Arab Emirates. Fabrication at Bechtel’s facility has not been impacted and sufficient steel for 2026 work programs has been delivered to site. Mitigation measures are being proactively assessed to ensure ongoing supply of steel.

• Louisiana LNG continues to attract strong interest from high-quality counterparties, supporting Woodside’s sell-down process.

• Progressed potential future growth optionality for the project.

• The project is targeting first LNG cargo 2029.

Hydrogen Refueller @H2Perth

• Commissioning activities continued ahead of targeted ready for start-up in Q2 2026.

• The project is targeting first hydrogen production in H2 2026.¹¹

¹¹ The project has received funding from the Hydrogen Fuelled Transport Project Funding Process as part of the Western Australian Government’s Renewable Hydrogen Strategy.

  7       First quarter report for period ended 31 March 2026  

Decommissioning

• Progressed offshore decommissioning execution activities across the portfolio, including removal of more than 18 km of flexible flowlines and umbilicals at Stybarrow and 8 km of flexible flowlines from Griffin fields.

• Continued technical studies across the Stybarrow, Griffin and Minerva decommissioning projects to support execution planning, consistent with regulatory requirements.

• At Bass Strait (Gippsland Basin Joint Venture), well plug and abandonment activities were progressed with platform rig operations on West Kingfish and Cobia platforms.

• Preparation activities for the Bass Strait Offshore Platform Removal Campaign 1 also progressed, including completion of preparation activities on Bream B Platform, and commencement of mobilisation for onshore reception centre upgrades.

Development and exploration

Browse

• Continued engagement with regulators to progress environmental approvals.

• Continued technical work to optimise the upstream concept, with contractors engaged to progress pre-Front-End Engineering and Design (FEED) engineering scopes for the FPSO facilities.

• Issued invitations to tender for the design and construction of the Browse FPSO facilities that will provide market pricing and schedule assumptions to inform a FEED entry decision.

• Progressed the gas processing agreement which will establish the commercial framework and terms for processing Browse gas at the North West Shelf Project’s Karratha Gas Plant and support FEED entry.

Sunrise

• Progressed technical and commercial activities under the Timor-Leste Cooperation Agreement.

• Ongoing engagement by the Sunrise Joint Venture with the Timor-Leste and Australian Governments to advance the fiscal and regulatory frameworks supporting the potential development of Sunrise.

Calypso

• The Calypso Joint Venture progressed the scoping of additional engineering studies.

Exploration

• Woodside participated in the non-operated Bandit-1 well in Green Canyon Block 680 in the Gulf of America, which encountered high-quality oil-bearing Miocene sands. The co-owners are currently evaluating results to determine next steps.¹²

• Woodside was awarded eight leases in the Gulf of America following final payment and regulatory approval as the successful bidder from the Big Beautiful Gulf 1 Lease Sale held in 2025.

• Woodside was the successful bidder on two blocks in Big Beautiful Gulf 2 Lease Sale in the Gulf of America, with the lease issuance pending final payment and regulatory approval.

• Continued to evaluate opportunities consistent with Woodside’s disciplined exploration strategy.

¹² See “Bandit-1 discovery off Louisiana” announced on 10 April 2026.

  8       First quarter report for period ended 31 March 2026  

Corporate activities

CEO appointment

• The Board appointed Liz Westcott as Woodside’s CEO and Managing Director, effective 18 March 2026.

Annual General Meeting

• Woodside’s Annual General Meeting (AGM) was held on 23 April 2026.

• All items put to the AGM were carried, and the AGM voting results were published following the meeting.

Climate and sustainability

• Published AASB S2 climate-related disclosures in the 2025 Annual Report.

• “Woodside Sustainability Briefing 2026” held on 16 March, highlighting 2025 sustainability performance.

• Subsequent to the period, the 2025 Social Contribution Report was released, outlining our focus on the generation of better social and economic outcomes for our host communities.

Hedging

• As at 31 March 2026, 30 MMboe of 2026 oil production was hedged at an average price of $74.23 per barrel and 10 MMboe of 2027 production at $76.76 per barrel.

• Continued hedging program for Corpus Christi LNG volumes involving Henry Hub and Title Transfer Facility (TTF) commodity swaps. Approximately 95% of 2026, 86% of 2027, and 7% of 2028 volumes have been hedged.

• The realised value of all hedged positions for the period ended 31 March 2026 is an estimated pre-tax profit of $32 million, with a $24 million profit related to Corpus Christi hedges and a $9 million profit related to oil price hedges, offset by a $1 million loss related to other hedge positions. Hedging profits will be included in ‘other income’ except hedging profits related to interest rate swaps which will be included in ‘finance income’ in the 2026 financial statements.

Embedded commodity derivative

• In 2023, Woodside entered into a revised long-term gas sale and purchase contract with Perdaman. A component of the selling price is linked to the price of urea, creating an embedded commodity derivative in the contract. The fair value of the embedded derivative is estimated using a Monte Carlo simulation model.

• As there is no long-term urea forward curve, TTF continues to be used as a proxy to simulate the value of the derivative over the life of the contract.

• For the quarter ended 31 March 2026, an unrealised pre-tax loss of approximately $41 million is expected to be recognised through other expense.

Funding and liquidity

• As at 31 March 2026, Woodside had liquidity of approximately $8,300 million, after paying a fully franked dividend in March, and net debt (including lease liabilities) of approximately $9,300 million.

Upcoming events 2026-2027

July		29		Second Quarter Report
August		25		Half-Year 2026 Results
October		21		Third Quarter Report
January		28		Fourth Quarter Report
February		23		2026 Annual Report

  9       First quarter report for period ended 31 March 2026  

Contacts:

INVESTORS		MEDIA		REGISTERED ADDRESS
				Woodside Energy Group Ltd
				ACN 004 898 962
Vanessa Martin		Christine Abbott		Mia Yellagonga
				11 Mount Street
M: +61 477 397 961		M: +61 484 112 469		Perth WA 6000
				Australia
E: investor@woodside.com		E: christine.abbott@woodside.com		T: +61 8 9348 4000
				www.woodside.com

This announcement was approved and authorised for release by Woodside’s Disclosure Committee.

  10       First quarter report for period ended 31 March 2026  

Production volumes

						Q1    2026				Q4    2025				Q1    2025				YTD    2026				YTD    2025
Gas			MMscf/d				1,578				1,709				1,841				1,578				1,841
Liquids			Mbbl/d				221				232				223				221				223
Ammonia			kT/d				1				-				-				1				-
Total production volumes			Mboe/d				502				531				546				502				546
Production (reserves)
						Q1 2026				Q4 2025				Q1 2025				YTD 2026				YTD 2025
AUSTRALIA
LNG
North West Shelf			Mboe				5,678				6,091				6,395				5,678				6,395
Pluto13			Mboe				10,991				11,403				10,226				10,991				10,226
Wheatstone			Mboe				2,286				2,390				2,422				2,286				2,422
Total			Mboe				18,955				19,884				19,043				18,955				19,043
Pipeline gas
Bass Strait			Mboe				2,756				3,431				3,192				2,756				3,192
Other13,14			Mboe				2,508				3,598				3,740				2,508				3,740
Total			Mboe				5,264				7,029				6,932				5,264				6,932
Crude oil and condensate
North West Shelf			Mbbl				953				1,083				1,106				953				1,106
Pluto13			Mbbl				845				930				847				845				847
Wheatstone			Mbbl				427				436				441				427				441
Bass Strait			Mbbl				342				367				402				342				402
Macedon & Pyrenees			Mbbl				361				430				369				361				369
Ngujima-Yin			Mbbl				653				973				725				653				725
Okha			Mbbl				311				452				312				311				312
Total			Mboe				3,892				4,671				4,202				3,892				4,202
NGL
North West Shelf			Mbbl				181				247				230				181				230
Pluto13			Mbbl				39				48				47				39				47
Bass Strait			Mbbl				630				631				668				630				668
Total			Mboe				850				926				945				850				945
Total Australia			Mboe				28,961				32,510				31,122				28,961				31,122
			Mboe/d				322				353				346				322				346

¹³ Feed gas volumes purchased from Pluto non-operating participants processed through the Pluto-KGP Interconnector are reported under Production (processing). Comparatives have been restated on the same basis.

¹⁴ Includes the aggregate Woodside equity domestic gas production from all Western Australian projects.

  11       First quarter report for period ended 31 March 2026  

						Q1  2026				Q4  2025				Q1  2025				YTD  2026				YTD  2025
INTERNATIONAL
Pipeline gas
USA			Mboe				446				408				378				446				378
Trinidad & Tobago			Mboe				-				-				2,416				-				2,416
Other15			Mboe				9				-				23				9				23
Total			Mboe				455				408				2,817				455				2,817
Crude oil and condensate
Atlantis			Mbbl				2,721				2,761				2,472				2,721				2,472
Mad Dog			Mbbl				2,758				2,797				2,577				2,758				2,577
Shenzi			Mbbl				1,896				1,958				2,322				1,896				2,322
Trinidad & Tobago			Mbbl				-				-				99				-				99
Sangomar			Mbbl				7,152				7,781				7,010				7,152				7,010
Other15			Mbbl				54				34				-				54				-
Total			Mboe				14,581				15,331				14,480				14,581				14,480
NGL
USA			Mbbl				513				363				398				513				398
Other15			Mbbl				5				-				12				5				12
Total			Mboe				518				363				410				518				410
Total International			Mboe				15,554				16,102				17,707				15,554				17,707
			Mboe/d				173				175				197				173				197
Total production (reserves) volumes			Mboe				44,515				48,612				48,829				44,515				48,829
			Mboe/d				495				528				543				495				543

¹⁵ Overriding royalty interests held in the USA for several producing wells.

  12       First quarter report for period ended 31 March 2026  

Production (processing)

						Q1  2026				Q4  2025				Q1  2025				YTD  2026				YTD  2025
AUSTRALIA
Pluto-KGP Interconnector16
LNG			Mboe				242				180				204				242				204
Pipeline gas			Mboe				-				75				67				-				67
Crude oil and condensate			Mbbl				9				9				10				9				10
NGL			Mbbl				4				5				5				4				5
Total Australia			Mboe				255				269				286				255				286
			Mboe/d				3				3				3				3				3
INTERNATIONAL
Beaumont New Ammonia17			Mboe				417				10				-				417				-
Total International			Mboe				417				10				-				417				-
			Mboe/d				5				-				-				5				-
Total production (processing) volumes			Mboe				672				279				286				672				286
			Mboe/d				7				3				3				7				3
Total production volumes			Mboe				45,187				48,891				49,115				45,187				49,115
			Mboe/d				502				531				546				502				546

¹⁶ Feed gas volumes purchased from Pluto non-operating participants processed through the Pluto-KGP Interconnector.

¹⁷ Beaumont New Ammonia production volume is 113.3 kT in Q1 2026 and YTD 2026.

  13       First quarter report for period ended 31 March 2026  

Sales volumes

						Q1  2026				Q4  2025				Q1  2025				YTD  2026				YTD  2025
Gas			MMscf/d				2,016				1,924				1,968				2,016				1,968
Liquids			Mbbl/d				218				232				213				218				213
Ammonia			kT/d				1				-				-				1				-
Total sales volumes			Mboe/d				575				569				559				575				559
						Q1 2026				Q4 2025				Q1 2025				YTD 2026				YTD 2025
AUSTRALIA
LNG
North West Shelf			Mboe				7,464				5,797				6,887				7,464				6,887
Pluto			Mboe				11,905				11,703				9,676				11,905				9,676
Wheatstone			Mboe				2,616				2,974				2,217				2,616				2,217
Total			Mboe				21,985				20,474				18,780				21,985				18,780
Pipeline gas
Bass Strait			Mboe				2,566				3,456				3,299				2,566				3,299
Other18			Mboe				2,498				3,440				3,584				2,498				3,584
Total			Mboe				5,064				6,896				6,883				5,064				6,883
Crude oil and condensate
North West Shelf			Mbbl				682				1,225				1,229				682				1,229
Pluto			Mbbl				1,192				661				705				1,192				705
Wheatstone			Mbbl				268				648				334				268				334
Bass Strait			Mbbl				528				-				534				528				534
Ngujima-Yin			Mbbl				669				747				663				669				663
Okha			Mbbl				251				654				-				251				-
Macedon & Pyrenees			Mbbl				1				438				499				1				499
Total			Mboe				3,591				4,373				3,964				3,591				3,964
NGL
North West Shelf			Mbbl				-				223				477				-				477
Pluto			Mbbl				-				66				110				-				110
Bass Strait			Mbbl				866				598				226				866				226
Total			Mboe				866				887				813				866				813
Total Australia			Mboe				31,506				32,630				30,440				31,506				30,440
			Mboe/d				350				355				338				350				338

¹⁸ Includes the aggregate Woodside equity domestic gas production from all Western Australian projects.

  14       First quarter report for period ended 31 March 2026  

						Q1  2026				Q4  2025				Q1  2025				YTD  2026				YTD  2025
INTERNATIONAL
Pipeline gas
USA19			Mboe				386				331				387				386				387
Trinidad & Tobago			Mboe				-				-				2,274				-				2,274
Other20			Mboe				3				5				4				3				4
Total			Mboe				389				336				2,665				389				2,665
Crude oil and condensate
Atlantis			Mbbl				2,728				2,729				2,494				2,728				2,494
Mad Dog			Mbbl				2,733				2,710				2,620				2,733				2,620
Shenzi			Mbbl				1,894				1,931				2,202				1,894				2,202
Trinidad & Tobago			Mbbl				-				-				43				-				43
Sangomar			Mbbl				6,822				7,603				6,521				6,822				6,521
Other20			Mbbl				89				41				57				89				57
Total			Mboe				14,266				15,014				13,937				14,266				13,937
NGL
USA			Mbbl				522				350				371				522				371
Other20			Mbbl				2				3				2				2				2
Total			Mboe				524				353				373				524				373
Ammonia
Beaumont New Ammonia21			Mboe				249				-				-				249				-
Total			Mboe				249				-				-				249				-
Total International			Mboe				15,428				15,703				16,975				15,428				16,975
			Mboe/d				171				171				189				171				189
MARKETING22
LNG			Mboe				4,400				3,341				2,750				4,400				2,750
Liquids			Mboe				384				695				104				384				104
Total			Mboe				4,784				4,036				2,854				4,784				2,854
Total Marketing			Mboe				4,784				4,036				2,854				4,784				2,854
Total sales volumes			Mboe				51,718				52,369				50,269				51,718				50,269
			Mboe/d				575				569				559				575				559

¹⁹ Restated additional volumes of 0.09 MMboe in Q1 2025 to reflect a revised MMBtu to boe conversion factor.

²⁰ Overriding royalty interests held in the USA for several producing wells.

²¹ Beaumont New Ammonia sales volumes are 67.6 kT in Q1 2026 and YTD 2026.

²² Purchased volumes sourced from third parties.

  15       First quarter report for period ended 31 March 2026  

Operating revenue (US$ million)

		Q1   2026				Q4   2025				Q1    2025				YTD   2026				YTD   2025
AUSTRALIA
North West Shelf			448				381				535				448				535
Pluto			766				800				712				766				712
Wheatstone			180				230				199				180				199
Bass Strait			232				212				228				232				228
Macedon			56				54				52				56				52
Ngujima-Yin			48				48				57				48				57
Okha			25				44				-				25				-
Pyrenees			-				29				44				-				44
Revenue from sale of products			1,755				1,798				1,827				1,755				1,827
Intersegment revenue			(50)				(44)				(2)				(50)				(2)
Processing and services revenue			53				29				74				53				74
Total Australia			1,758				1,783				1,899				1,758				1,899
INTERNATIONAL
Atlantis			199				169				191				199				191
Mad Dog			190				159				190				190				190
Shenzi			138				117				167				138				167
Trinidad & Tobago23			-				-				66				-				66
Sangomar			524				479				481				524				481
Other24			42				2				3				42				3
Revenue from sale of products			1,093				926				1,098				1,093				1,098
Total International			1,093				926				1,098				1,093				1,098
MARKETING
Revenue from sale of products			360				273				312				360				312
Intersegment revenue			50				44				2				50				2
Shipping and other revenue			-				9				4				-				4
Total Marketing25			410				326				318				410				318
Operating revenue26			3,261				3,035				3,315				3,261				3,315

²³ Includes the impact of periodic adjustments related to the production sharing contract (PSC).

²⁴ Includes revenue from Beaumont New Ammonia and overriding royalty interests held in the USA for several producing wells.

²⁵ Values include revenue generated from purchased LNG and Liquids volumes, as well as the marketing margin on the sale of Woodside’s

²⁵ LNG and Liquids portfolio. Marketing revenue excludes hedging impacts and cargo swaps where a Woodside produced cargo is sold and repurchased from the same counterparty to optimise the portfolio. The margin for these cargo swaps is recognised net in other income.

²⁶ Operating revenue excludes all hedging impacts.

  16       First quarter report for period ended 31 March 2026  

Realised prices

		Units		Q1  2026				Q4  2025				Q1 2025				Units		Q1  2026				Q4  2025				Q1 2025
LNG produced		$/MMBtu			9.0				9.4				10.6			$/boe			57				59				67
LNG traded27		$/MMBtu			10.0				9.9				13.7			$/boe			65				62				86
Pipeline gas																$/boe			44				39				36
Oil and condensate		$/bbl			77				62				74			$/boe			77				62				74
NGL		$/bbl			38				37				47			$/boe			38				37				47
Liquids traded27		$/bbl			85				54				70			$/boe			85				54				70
Average realised price for pipeline gas:
Western Australia		A$/GJ			7.0				6.9				6.9
East Coast Australia		A$/GJ			14.1				12.6				14.0
International28		$/Mcf			5.7				4.3				4.8
Average realised price		$/boe			63				57				64
Dated Brent		$/bbl			81				64				76
JCC (lagged three months)		$/bbl			72				72				78
WTI		$/bbl			72				59				71
JKM		$/MMBtu			10.4				11.2				14.7
TTF		$/MMBtu			10.8				10.8				14.6

Average realised price increased 11% from the prior quarter primarily due to:

• LNG traded sales from the Woodside portfolio at higher spot market prices; and

• Oil and condensate and liquids traded sales at higher Dated Brent and West Texas Intermediate (WTI) market prices. The oil and condensate quarterly realised price includes a revenue adjustment of $75 million which will be reported within “other income” in the Financial Statements. This adjustment represents the increase in market prices between the date revenue is recognised, based on provisional pricing and the expected final price paid by the customer.

²⁷ Excludes any additional benefit attributed to produced volumes through third-party trading activities.

²⁸ Sales volumes have been restated to reflect volumes sold in MMBtu at a revised boe conversion factor impacting realised price by -$0.2/Mcf for International pipeline gas and -$1/boe for Group in Q1 2025.

  17       First quarter report for period ended 31 March 2026  

Capital expenditure (US$ million)

		Q1  2026				Q4  2025				Q1  2025				YTD  2026				YTD  2025
Evaluation capitalised29			9				7				12				9				12
Property plant & equipment			1,686				1,443				1,790				1,686				1,790
Cash contributions from participants			(847)				(600)				-				(847)				-
Other30			5				(28)				4				5				4
Capital expenditure			853				822				1,806				853				1,806
Acquisitions			470				-				-				470				-
Total capital expenditure and acquisitions			1,323				822				1,806				1,323				1,806
		Q1 2026				Q4 2025				Q1 2025				YTD 2026				YTD 2025
Scarborough			275				389				322				275				322
Trion			171				186				315				171				315
Louisiana LNG capital expenditure			872				505				901				872				901
Cash contributions from participants			(847)				(600)				-				(847)				-
Louisiana LNG other30			5				(37)				-				5				-
Louisiana LNG			30				(132)				901				30				901
Other			377				379				268				377				268
Capital expenditure			853				822				1,806				853				1,806

²⁹ Project final investment decisions result in amounts of previously capitalised exploration and evaluation expense (from current and prior years) being transferred to property plant & equipment. This table does not reflect the impact of such transfers.

³⁰ Other primarily incorporates Louisiana LNG net payments to/from Williams for Driftwood Pipeline LLC associated with 2025 capital reimbursement included in sell-down proceeds and ongoing cash call payments.

  18       First quarter report for period ended 31 March 2026  

Other expenditure (US$ million)
Exploration and evaluation expenditure		Q1  2026				Q4  2025				Q1  2025				YTD  2026				YTD  2025
Exploration capitalised29,31			40				18				5				40				5
Exploration and evaluation expensed32			50				56				35				50				35
Permit amortisation			2				—				3				2				3
Total			92				74				43				92				43
Trading costs		Q1 2026				Q4 2025				Q1 2025				YTD 2026				YTD 2025
Australia			49				58				39				49				39
Marketing			338				232				193				338				193
Total			387				290				232				387				232
Abandonment expenditure		Q1 2026				Q4 2025				Q1 2025				YTD 2026				YTD 2025
Total			116				165				257				116				257

³¹ Exploration capitalised represents expenditure on successful and pending wells, plus permit acquisition costs during the period and is net of well costs reclassified to expense on finalisation of well results.

³² Includes seismic and general permit activities and other exploration costs.

  19       First quarter report for period ended 31 March 2026  

Exploration or appraisal wells drilled

Region

Permit  area

Well

Target

Interest  (%)

Spud date

Water  depth (m)

Actual  well depth  (m)33

Remarks

United States

GC 680

Bandit-1

Oil

17.5% Non-operator

2 September 2025

1,555

11,139

Encountered oil in Miocene interval

³³ Well depths are referenced to the rig rotary table.

  20       First quarter report for period ended 31 March 2026  

Permits and licences

Key changes to permit and licence holdings during the quarter ended 31 March 2026 are noted below.

Region		Permits or licence areas		Change in interest (%)				Current interest (%)				Remarks
Australia		WA-28-P			(100.0	%)			—			Permit expired
United States		WR 443, WR 444, WR 488			80	%			80	%		Awarded
		KC 259, KC 301, KC 343, KC 431, WR 577			100	%			100	%		Awarded

  21       First quarter report for period ended 31 March 2026  

Production rates

Average daily production rates (100% project) for the quarter ended 31 March 2026:

		Woodside share34		Production rate (100% project, Mboe/d)				Remarks
				Mar		Dec
				2026		2025
AUSTRALIA
NWS Project
LNG		30.04%		210		220		Production was lower due to impact from adverse weather.
Crude oil and condensate		30.07%		35		39
NGL		30.09%		7		9
Pluto LNG
LNG		90.00%		109		118		Production was lower due to impact from adverse weather.
Crude oil and condensate		90.00%		9		10
Pluto-KGP Interconnector
LNG		100.00%		27		20		LNG production was higher due to increased feed gas to Karratha Gas Plant.
Crude oil and condensate		100.00%		1		1
NGL		100.00%		-		1
Wheatstone35
LNG		11.78%		211		235		Production was lower due to impact from adverse weather.
Crude oil and condensate		16.21%		29		31
Bass Strait
Pipeline gas		46.95%		65		73		Pipeline gas production was lower due to reduced seasonal demand and planned offshore maintenance activities.
Crude oil and condensate		42.16%		9		9
NGL		44.70%		16		15
Australia Oil
Ngujima-Yin		60.00%		12		18		Production was lower due to impact from adverse weather and planned shipyard maintenance for Okha.
Okha		50.00%		7		10
Pyrenees		63.40%		6		7
Other
Pipeline gas36				28		40		Production was lower due to reduced nominations.

³⁴ Woodside share reflects the net realised interest for the period.

³⁵ The Wheatstone asset processes gas from several offshore gas fields, including the Julimar and Brunello fields, for which Woodside has a 65% participating interest and is the operator.

³⁶ Includes the aggregate Woodside equity domestic gas production from all Western Australian projects.

  22       First quarter report for period ended 31 March 2026  

		Woodside share37		Production rate (100% project, Mboe/d)				Remarks
				Mar		Dec
				2026		2025
INTERNATIONAL
Atlantis
Crude oil and condensate		38.50%		79		78
NGL		38.50%		7		4
Pipeline gas		38.50%		10		8
Mad Dog
Crude oil and condensate		20.86%		147		146
NGL		20.86%		7		5
Pipeline gas		20.86%		3		3
Shenzi
Crude oil and condensate		64.60%		33		33
NGL		64.65%		3		2
Pipeline gas		64.57%		1		1
Sangomar
Crude oil		79.79%38		100		99
Beaumont New Ammonia
Ammonia39		100.00%		5		-		Plant commissioning and start-up.

³⁷ Woodside share reflects the net realised interest for the period.

³⁸ Operations governed by production sharing contracts.

³⁹ Beaumont New Ammonia production rate is 1 kT/d in Mar 2026.

  23       First quarter report for period ended 31 March 2026  

Disclaimer and important notice

Forward looking statements

This report contains forward-looking statements. These statements may relate to Woodside’s business, goals, targets, aspirations, plans, expectations, market conditions, results of operations and financial condition, including but not limited to, statements regarding the timing, completion and outcomes of transactions, construction costs and capital expenditures, supply and demand for Woodside’s products, development, completion and execution of Woodside’s projects, the expected benefits, cash flows and rates of return or other future results of investments, strategies and transactions, the payment of future dividends and the amount thereof, future results of projects, operating activities and new energy products, expectations and plans for renewables production capacity and investments in, and development of, renewables projects, expectations and guidance with respect to production, production costs and other costs, capital expenditure, abandonment expenditure, exploration expenditure and gas hub exposure, trends in commodity prices and currency exchange rates, adoption and implementation of new technologies and expectations regarding the achievement of Woodside’s Scope 1 and 2 greenhouse gas emissions targets and Scope 3 investment and emissions abatement targets (in each case on a net equity or gross equity basis as specified) and other climate and sustainability goals. All statements, other than statements of historical or present facts, are forward-looking statements and generally may be identified by the use of forward-looking words such as “aim”, “anticipate”, “aspire”, “believe”, “enable”, “estimate”, “expect”, “forecast”, “foresee”, “guidance”, “intend”, “likely”, “may”, “objective”, “outlook”, “pathway”, “plan”, “position”, “potential”, “project”, “schedule”, “seek”, “should”, “strategy”, “strive”, “target”, “will” and other similar words or expressions.

Forward-looking statements in this report are not guidance, forecasts, guarantees or predictions of future events or performance, but are in the nature of future expectations that are based on management’s current expectations. Those statements and any assumptions on which they are based are subject to change without notice and are subject to inherent known and unknown risks, uncertainties, contingencies and other factors, many of which are beyond the control of Woodside, its related bodies corporate and their respective officers, directors, employees, advisers or representatives. Important factors that could cause actual results to differ materially from those in the forward-looking statements and the assumptions on which they are based include, but are not limited to, fluctuations in commodity prices, actual demand for Woodside products, currency fluctuations, geotechnical factors, drilling and production results, gas commercialisation, development progress, operating results, engineering estimates, reserve and resource estimates, loss of market, industry competition, pace of technology developments, sustainability and environmental risks, climate related transition and physical risks, safety and personnel risks, changes in accounting standards, economic and financial markets conditions in various countries and regions, the actions of third parties, project delay or advancement, regulatory approvals, political risks and the impact of armed conflict and political instability (such as the ongoing conflicts in Ukraine and in the Middle East) on economic activity and oil and gas supply and demand, cost estimates, legislative, fiscal and regulatory developments, including those related to the imposition of tariffs and other trade restrictions, and the effect of future regulatory or legislative actions on Woodside or the industries in which it operates, including potential changes to tax laws, the impact of general economic conditions, inflationary conditions, prevailing exchange rates and interest rates and conditions in financial markets and risks associated with acquisitions, mergers and joint ventures, including difficulties integrating or separating businesses, uncertainty associated with financial projections, restructuring, increased costs and adverse tax consequences, and uncertainties and liabilities associated with acquired and divested properties and businesses.

A more detailed summary of the key risks relating to Woodside and its business can be found in the “Risk” section of Woodside’s most recent Annual Report released to the Australian Securities Exchange and in Woodside’s most recent Annual Report on Form 20-F filed with the United States Securities and Exchange Commission and available on the Woodside website at https://www.woodside.com/investors/reports-investor-briefings. You should review and have regard to these risks when considering the information contained in this report.

If any of the assumptions on which a forward-looking statement is based were to change or be found to be incorrect, this would likely cause outcomes to differ from the statements made in this report.

Investors are strongly cautioned not to place undue reliance on any forward-looking statements. Actual results or performance may vary materially from those expressed in, or implied by, any forward-looking statements. None of Woodside nor any of its related bodies corporate, nor any of their respective officers, directors, employees, advisers or representatives, nor any person named in this report or involved in the preparation of the information in this report, makes any representation, assurance, guarantee or warranty (either express or implied) as to the accuracy or likelihood of fulfilment of any forward-looking statement, or any outcomes, events or results expressed or implied in any forward-looking statement in this report. All forward-looking statements contained in this report reflect Woodside’s views held as at the date of this report and, except as required by applicable law, neither Woodside, its related bodies corporate, nor any of their respective officers, directors, employees, advisers or representatives nor any person named in this report or involved in the preparation of the information in this report intends to, undertakes to, or assumes any obligation to, provide any additional information or update or revise any of these statements after the date of this report, either to make them conform to actual results or as a result of new information, future events or results, changes in Woodside’s expectations or otherwise. Past performance (including historical financial and operational information) is given for illustrative purposes only. It is not necessarily a reliable indicator of future performance, including future security prices.

  24       First quarter report for period ended 31 March 2026  

Other important information

All figures are Woodside share for the quarter ending 31 March 2026, unless otherwise stated.

All references to dollars, cents or $ in this report are to US currency, unless otherwise stated.

References to “Woodside” may be references to Woodside Energy Group Ltd and/or its applicable subsidiaries (as the context requires).

Glossary, units of measure and conversion factors

Refer to the Glossary in the Annual Report 2025 for definitions, including carbon related definitions.

Product		Unit		Conversion factor
Natural gas		5,700 scf		1 boe
Condensate		1 bbl		1 boe
Oil		1 bbl		1 boe
Natural gas liquids		1 bbl		1 boe
Ammonia		1 metric tonne		3.68 boe

Facility		Unit		LNG Conversion factor
Karratha Gas Plant		1 tonne		8.08 boe
Pluto LNG Gas Plant		1 tonne		8.34 boe
Wheatstone		1 tonne		8.27 boe

The LNG conversion factor from tonne to boe is specific to volumes produced at each facility and is based on gas composition which may change over time.

  25       First quarter report for period ended 31 March 2026  

Term		Definition
bbl		barrel
bcf		billion cubic feet of gas
boe		barrel of oil equivalent
GJ		gigajoule
kT		thousand metric tonnes
NGL		Natural Gas Liquid
Mbbl		thousand barrels
Mbbl/d		thousand barrels per day
Mboe		thousand barrels of oil equivalent
Mboe/d		thousand barrels of oil equivalent per day
Mcf		thousand cubic feet of gas
MMboe		million barrels of oil equivalent
MMBtu		million British thermal units
MMscf/d		million standard cubic feet of gas per day
Mtpa		million tonnes per annum
PJ		petajoule
scf		standard cubic feet of gas
TJ		terajoule

Glossary

Please refer to the Glossary in the Annual Report 2025 for definitions, including carbon related definitions.

  26       First quarter report for period ended 31 March 2026  

FAQ

How did Woodside (WDS) perform operationally in Q1 2026?

Woodside produced 45.2 MMboe in Q1 2026, down 8% year-on-year. Output was supported by high reliability at key assets like Sangomar and Shenzi, although Western Australian operations were temporarily affected by Severe Tropical Cyclone Narelle.

What was Woodside (WDS) operating revenue in Q1 2026?

Woodside generated $3,261 million in operating revenue in Q1 2026. This was 7% higher than Q4 2025 but slightly below Q1 2025, reflecting lower production volumes offset by a stronger average realised price.

How did Woodside’s average realised price change in Q1 2026?

Woodside’s average realised price rose to $63 per boe in Q1 2026, up 11% from Q4 2025. The improvement was mainly driven by elevated spot prices, with additional pricing benefits expected later due to lagged LNG contract mechanisms.

What progress did Woodside (WDS) report on the Scarborough project?

The Scarborough Energy Project is reported as 96% complete in Q1 2026. Woodside reiterated its target for first LNG cargo from Scarborough in the fourth quarter of 2026, with associated work at Pluto supporting the planned start-up.

How advanced are Woodside’s Trion and Louisiana LNG projects?

In Q1 2026, the Trion oil project was 56% complete and targeting first oil in 2028. Louisiana LNG construction continued, with Train 1 reported as 31% complete, including structural, piping, tank and marine works underway.

Did Woodside (WDS) change its 2026 guidance in this report?

Woodside maintained its 2026 full-year guidance with no changes. Targets for total production, gas hub exposure, capital expenditure, abandonment and exploration expenditure, production costs, and depreciation all remained in their previously stated ranges.

What new contribution did Beaumont New Ammonia make to Woodside’s results?

Beaumont New Ammonia contributed 1 kT/d of ammonia production and 113.3 kT for Q1 2026. The facility shipped its first ammonia cargo in February and transitioned to full operational control by Woodside in March, adding a new product stream.

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