Woodside Petroleum see 43% rise in Dec quarter

Company News

by Rachael Jones

Woodside Petroleum (ASX:WPL) has released details of a strong December quarter with an increase of 43 per cent compared to this time last year.

Sales revenue for the quarter was $1.42 billion.

This was due in part to higher prices and Wheatstone’s production exceeding expectations.

Production rose 10 per cent compared to the fourth quarter of 2017, while sales revenue climbed 43% to $1,419 million on the back of higher prices.

A highlight of the quarter was the start-up of the Greater Western Flank Phase 2 project in October, six months ahead of schedule and $630 million under total budget.

Shares in Woodside Petroleum (ASX:WPL) are trading 1.31 per cent higher at $33.96.