Woodside Energy (ASX:WDS) has reported a landmark year, delivering record full-year production of 198.8 MMboe, surpassing its 2025 guidance.
The performance was bolstered by high operational reliability, including 100% reliability at Pluto LNG during the second half of the year and strong output from the Sangomar Project in Senegal.
Despite a 4% dip in fourth-quarter production due to seasonal weather and lower Australian demand, the company maintained a solid average realized price of $57/boe.
Acting CEO Liz Westcott, appointed following the resignation of Meg O'Neill, noted that the company is advancing its major growth pipeline.
The Scarborough Energy Project is now 94% complete and remains on track for its first LNG cargo in late 2026.
Additionally, the Beaumont New Ammonia Project in Texas achieved its first production milestone in December, with lower-carbon ammonia output expected by mid-2026.
On the portfolio front, Woodside deepened its US presence by selling a 10% interest in its Louisiana LNG Project to Williams, a move that secured $1.9 billion in capital contributions.
While the company faces ongoing legal challenges regarding environmental approvals for its North West Shelf extension, it continues to expand its global reach, signing long-term supply agreements with SK Gas and BOTAŞ.
Looking ahead, Woodside has set its 2026 production guidance at 172–186 MMboe, accounting for planned downtime as Pluto prepares to integrate Scarborough gas.