Woodside Energy records an 8% fall in first-quarter output to 45.2 million barrels of oil equivalent compared with the prior quarter after severe cyclones hit Western Australia.
Production disruptions affect major assets including Pluto LNG, North West Shelf, Wheatstone and Julimar-Brunello, showing how exposed the portfolio is to regional weather patterns.
Management keeps overall guidance steady and signals confidence that lost volumes can be recovered across the rest of the year.
Quarterly sales volumes edge 1% higher to 575,000 barrels of oil equivalent per day even as production slips, so inventory and offtake management help smooth the impact.
The average realised price rises 11% to USD63 per barrel, equivalent to about AUD87, which gives revenue an extra lift despite lower volumes.
Capital expenditure and acquisition spending surge 61% to USD1.3 billion, up from USD822 million in the previous quarter, showing a heavier investment phase.
Company forecasts still point to full-year production between 172 and 186 million barrels of oil equivalent, covering all core assets.
Higher capex and acquisition outlays show Woodside is pushing ahead with growth and sustaining projects rather than retrenching after the cyclone hit.
Weather-related interruptions at multiple LNG and gas hubs increase operational risk, but maintained guidance suggests contingency planning and redundancy in the asset base.
Leadership emphasises operational excellence, stronger organisational effectiveness and tighter capital management as levers to translate this elevated spend into long-term shareholder value.
The strategy aims to balance reliability and safety with more disciplined execution in a more volatile operating environment.
