Woodside lowers 2026 production outlook as Scarborough timing tightens
Woodside Energy reduced its 2026 production guidance to 174-181 million barrels of oil equivalent from 174-185 million. September-quarter production increased 12% from the prior quarter to 46.2 million barrels of oil equivalent, while revenue reached $4.28 billion. Scarborough was 99% complete and remained scheduled for first LNG in the December quarter, but Woodside cited lower Beaumont New Ammonia and Okha volumes and less Scarborough contribution before year-end.
Why it matters
The revised range lowers Woodside's stated 2026 production ceiling and signals less near-term output from Scarborough and other assets. Woodside said it will start a formal process to reduce its investment in Beaumont New Ammonia, creating a potential change in capital exposure to that project.
Key facts
- 1Woodside lowered its 2026 production guidance to 174-181 million barrels of oil equivalent, from 174-185 million previously. finance.yahoo.com
- 2September-quarter production was 46.2 million barrels of oil equivalent, up 12% from the previous quarter. finance.yahoo.com
- 3Scarborough had reached 99% completion and was still targeted to deliver its first LNG cargo in the December quarter. finance.yahoo.com
- 4Average realised LNG prices increased to US$84 per barrel of oil equivalent from US$66 in the prior quarter. finance.yahoo.com
- 5Woodside maintained its 2026 capital expenditure guidance at $4 billion to $4.5 billion. investing.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.