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Woodside Energy Group Ltd has reported $4.19 billion in revenue for the second quarter, up 28 percent from the prior three-month period on higher prices.

A 35 percent sequential increase to $85 per barrel of oil equivalent (boe) in the average realized price, driven by increases in liquefied natural gas (LNG) and oil realizations, offset a nine percent decrease to 41.3 million boe (MMboe) in production. Sales volumes fell seven percent to 48 MMboe.

The output decline was "due to the planned maintenance at Pluto Train 1 and recovery from cyclone impacts", Woodside said.

Gas production fell 16 percent to 1.33 billion cubic feet per day. Liquids production dropped three percent to 214,000 barrels per day.

However, Woodside raised the lower end of its full-year production forecast to 174 MMboe from 172 MMboe. The range has been updated from 172-186 MMboe to 174-185 MMboe.

"Sustained production performance and asset reliability have provided greater certainty around expected full-year outcomes, supporting a narrower production guidance range for 2026", said chief executive Liz Westcott.

Additionally, the Scarborough Energy Project progressed to a 98 percent completion level and remains on track to produce its first LNG cargo by the fourth quarter, Woodside said. The project includes the development of the Scarborough field off the coast of Karratha in Western Australia, the construction of a second gas processing train for Pluto LNG with a capacity of five million metric tons per annum (MMtpa) and modifications to Pluto Train 1, according to Woodside.

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"The successful completion of the Pluto planned maintenance during the quarter marked a key milestone in preparing for Pluto Train 2 integration and processing of Scarborough gas", Westcott said.

Westcott also noted, "At the end of the quarter Trion was 64 percent complete, with first oil targeted in 2028. At Louisiana LNG, the foundation phase continues to advance to plan, with the project 28 percent complete and targeting first LNG in 2029".

Trion, a Mexican "ultra-deepwater" field that Woodside and state-owned Petróleos Mexicanos greenlighted 2023 with an expected budget of $7.2 billion, includes a floating production unit with a capacity of 100,000 barrels a day.

Louisiana LNG, formerly Driftwood LNG, is a Gulf Coast project that holds a permit from the United States Department of Energy to export a cumulative 1.42 trillion cubic feet a year of natural gas equivalent, or 27.6 MMtpa of LNG. Woodside announced a final investment decision April 30, 2025 with a projected gross capital of $17.5 billion.