Woodside's second-quarter revenue beats estimates on Sangomar output; trims 2025 outlook
Woodside in late March agreed to sell offshore oil and gas assets in Trinidad and Tobago to London-based Perenco, which included production facilities and interests in the shallow water Angostura and Ruby fields within the Greater Angostura project.
The country's top gas producer posted revenue of $3.28 billion for the three months ended June 30, surging 8% from $3.04 billion a year earlier and comfortably exceeding the Visible Alpha consensus estimate of $3.09 billion.
The revenue beat underscores the strong performance of the Sangomar project, which has emerged as a key growth driver for the company. Overall production jumped 13% to 50.1 million barrels of oil equivalent (mmboe) during the quarter, up from 44.4 mmboe in the same period last year.
As a result of the asset sale, Woodside marginally adjusted its 2025 production forecast to between 188 and 195 mmboe, compared with its previous guidance range of 186 to 196 mmboe.
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