23-07-2025
Woodside Energy Releases Second Quarter Report for Period Ended 30 June 2025
1 Includes a base purchase price of $206 million plus working capital completion adjustments, based on an effective date of 1 January 2025.
2 Restated to exclude periodic adjustments reflecting the arrangements governing Wheatstone LNG sales of $10 million in Q2 2024 and -$14 million in YTD 2024. These amounts will be included within other income/(expenses) in the Financial Statements. Restatement allows for revenue presented in this quarterly report to reconcile to operating revenue, the IFRS measure presented in Woodside Financial Statements.
3 Q2 2025 includes 0.28 MMboe primarily from feed gas purchased from Pluto non-operating participants processed through the Pluto-KGP Interconnector.
4 Restated to exclude periodic adjustments reflecting the arrangements governing Wheatstone LNG sales of 0.19 MMboe in Q2 2024 and -0.09 MMboe in YTD 2024. Restatement allows for revenue presented in this quarterly report to reconcile to operating revenue, the IFRS measure presented in Woodside Financial Statements.
5 Includes capital additions on property plant and equipment, evaluation capitalised and other corporate spend. Exploration capitalised has been reclassified from capital expenditure to other expenditure.
6 Capital expenditure for Louisiana LNG is presented as a net figure inclusive of cash contributions received from Stonepeak representing their share of the project's capital expenditure to date. Q2 2025 includes a $1,870 million cash contribution.
7 Completion of the transaction is subject to conditions precedent.
8 Includes a base purchase price of $206 million plus working capital completion adjustments, based on an effective date of 1 January 2025.
9 The project has received funding from the Hydrogen Fuelled Transport Project Funding Process as part of the Western Australian Government's Renewable Hydrogen Strategy.
10 Energy supply may include hydrogen, natural gas and/or electricity.
11 Woodside uses this term to describe the characteristic of having lower levels of associated potential greenhouse gas emissions when compared to historical and/or current conventions or analogues, for example relating to an otherwise similar resource, process, production facility, product or service, or activity. When applied to Woodside's strategy, please see the definition of lower-carbon portfolio in Woodside's 2024 Annual Report.
12 Major Project Status is the Australian Government's recognition of a project's national significance through its contribution to strategic priorities, economic growth, employment, or to regional Australia.
13 Targets are for net equity Scope 1 and 2 greenhouse gas emissions relative to a starting base of 6.32 Mt CO 2 -e which is representative of the gross annual average equity Scope 1 and 2 greenhouse gas emissions over 2016-2020 and which may be adjusted (up or down) for potential equity changes in producing or sanctioned assets with a final investment decision prior to 2021. Net equity emissions include the utilisation of carbon credits as offsets.
14 This means net equity for the 12-month period ending 31 December 2025 are targeted to be 15% lower than the starting base.
15 Gas hub indices include Japan Korea Marker (JKM), TTF and National Balancing Point (NBP). It excludes Henry Hub.
16 Capital expenditure includes the following participating interests; Scarborough (74.9%), Pluto Train 2 (51%) and Trion (60%). It excludes the remaining Beaumont New Ammonia acquisition expenditure and Louisiana LNG expenditure. This guidance assumes no change to these participating interests in 2025. This excludes the impact of any subsequent asset sell-downs, future acquisitions or other changes in equity.
17 Q2 2025 includes 1.69 MMboe of LNG, 0.09 MMboe of condensate and 0.05 MMboe of NGL processed at the Karratha Gas Plant (KGP) through the Pluto-KGP Interconnector.
18 Includes the aggregate Woodside equity domestic gas production from all Western Australian projects.
19 Q2 2025 includes 0.28 MMboe primarily from feed gas purchased from Pluto non-operating participants processed through the Pluto-KGP Interconnector.
20 Overriding royalty interests held in the USA for several producing wells.
21 Restated to exclude periodic adjustments reflecting the arrangements governing Wheatstone LNG sales of 0.19 MMboe in Q2 2024 and -0.09 MMboe in YTD 2024. Restatement allows for revenue presented in this quarterly report to reconcile to operating revenue, the IFRS measure presented in Woodside Financial Statements.
22 Includes the aggregate Woodside equity domestic gas production from all Western Australian projects.
23 Overriding royalty interests held in the USA for several producing wells.
24 Purchased volumes sourced from third parties.
25 Restated to exclude periodic adjustments reflecting the arrangements governing Wheatstone LNG sales of $10 million in Q2 2024 and -$14 million in YTD 2024. These amounts will be included within other income/(expenses) in the financial statements. Restatement allows for revenue presented in this quarterly report to reconcile to operating revenue, the IFRS measure presented in Woodside Financial Statements.
26 Includes the impact of periodic adjustments related to the production sharing contract (PSC).
27 Overriding royalty interests held in the USA for several producing wells.
28 Values include revenue generated from purchased LNG and Liquids volumes, as well as the marketing margin on the sale of Woodside's produced 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.
29 Referred to as 'Revenue from sale of hydrocarbons' in Woodside financial statements. Total sales revenue excludes all hedging impacts.
30 Excludes any additional benefit attributed to produced volumes through third-party trading activities.
31 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.
32 Other primarily incorporates corporate spend including SAP build costs, other investments and other capital expenditure.
33 Capital expenditure for Louisiana LNG is presented at 100% working interest equity.
34 Cash contributions received from Stonepeak represent their share of the project's capital expenditure since the effective date of 1 January 2025.
35 Exploration capitalised has been reclassified from capital expenditure to other expenditure. 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.
36 Includes seismic and general permit activities and other exploration costs.
37 Woodside share reflects the net realised interest for the period.
38 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.
39 Includes the aggregate Woodside equity domestic gas production from all Western Australian projects.
40 Woodside share reflects the net realised interest for the period.
41 Operations governed by production sharing contracts.
