Energy company Woodside Petroleum Limited (ASX:WPL) says second quarter production has slipped 17 per cent from 2010 and revenue has risen 17 per cent.
In the three months to the end of June, Woodside posted quarterly production of 16.3 million barrels of oil equivalent, coming in under the 17.5 million barrels of oil equivalent produced the same time in 2010.
In the same period, revenue rose 17 per cent from the year before to $1.19 billion.
Woodside has attributed the fall in production to the planned outage of the North West Shelf oil fields.
Higher commodity prices have been credited for boosting sales revenue.
After cutting its production guidance last month, Woodside has confirmed that it is targeting between 62 million and 64 million barrels of oil equivalent in the 2011 financial year.
In the 2010 financial year Woodside Petroleum posted a net profit of $1.6 billion.
