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.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.