Woodside Petroleum Limited
(ASX:WPL) has lifted its annual output guidance after reporting a rise in second quarter production and sales revenue.
The oil and gas producer reports output rose 17.5 per cent, sales rose 6.4 per cent and sales revenue jumped almost 25 per cent to $US1.7 billion in the June quarter compared to the year before.
The quarter was also marked by Woodside’s biggest shareholder Shell announcing it will sell most of its stake in the company to an expected 4.5 per cent.
Woodside has now upgraded its annual production expectations to 89 - 94 million barrels of oil equivalent for the full 2014 calendar year.
The company’s first half financial report is due for release on August 20.
Woodside Petroleum reported a net profit of more than $2 billion in the full 2013 calendar year.
