Woodside production declines after wet weather

PERTH (miningweekly.com) – ASX-listed oil and gas producer Woodside has reported a decline in production during the three months to March, on the back of wet weather conditions.

The company on Thursday noted that production during the first quarter reached 21.4-million barrels of oil equivalent, which was down from the 23.8-million barrels produced in the previous quarter.

Sales volumes for the quarter under review were down from 24.1-million barrels in the previous quarter, to 20.9-million barrels, with revenues for the March quarter reaching $895-million.

Woodside CEO Peter Coleman said on Thursday that the first quarter demonstrated progress against the company’s 2017 priorities.

“We continue to work with the Wheatstone operator on final onshore and offshore commissioning activities ahead of expected first liquefied natural gas mid-year,” he said, adding that significant appraisal and exploration programmes in Senegal and Mayanmar were also under way.