Woodside Petroleum quarterly revenue rises 14.65%, but production falls

Company News

by Jessica Amir

Woodside Petroleum (ASX:WPL) has seen a 14.65 per cent rise in total revenue in the March 2019 quarter (compared to the same period in 2018), with the headline figure hitting $1.4 billion, on the back of higher oil prices.

However, year-to-date production fell compared to the same time last year. Quarterly production also fell, to 21.7 million barrels of oil equivalent, compared to the prior December quarter and when also compared to the 2018 March quarter.

Despite the disruption from cyclone activity, it attributed its natural disaster preparedness to maintained safety, which also helped to minimise the impact on production.

Shares in Woodside Petroleum (ASX:WPL) are trading 0.3 per cent higher at $35.42. Year-to-date its shares are trading 15 per cent higher.

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.