Woodside Petroleum Ltd
(ASX:WPL) says production volumes were down by 10% for the June 2010 quarter, compared same period last year.
The oil and gas company says the drop was largely driven by scheduled maintenance shutdowns on North West Shelf Trains 3 and 5, the sale of Otway assets in the previous quarter, and a natural decline in oil production from Enfield and Neptune fields.
The company posted a 4% increase in June quarter sales revenue compared to the previous quarter, a 48% increase on the same period in 2009.
Woodside attributes the growth to improved commodity pricing and production from its Vincent and Stybarrow fields.
Woodside Petroleum reported a profit of $1.8 billion for the year ending 30 December 2009.
