Oz Woodside's Q3 Revenue Flat

Australian Woodside Petroleum October 17 said its revenue during the three months to September 30 (Q3 2019) was up 0.6% year on year.

The company reported a revenue of US$1.16bn as against US$1.15bn in the same period of last year. Woodside produced 24.9mn barrels of oil equivalent during the period compared with 23.1mn boe in the same period a year ago.

Woodside said that it is progressing the negotiation for the Browse gas processing agreement and the Browse joint venture remains aligned on being ready to commence the front end engineering design (Feed) in Q4 2019. For the SNE development in Senegal, the company is completing internal technical, cost and schedule reviews ahead of a targeted final investment decision (FID) before the end of the year, it said. The technical work for Scarborough continues as planned in support of FID targeted for H1 2020, Woodside added.

"Our major growth projects are progressing well towards key decision points," CEO Peter Coleman said.