Woodside Energy Group Ltd (ASX:WDS, LSE:WDS, OTC:WOPEF) shares rose 3% to $23.15 in morning trade after the company lifted its 2025 production guidance and trimmed capital expenditure, helping lead gains across the energy sector.
September-quarter output increased 1% from the June quarter. While revenue, production and sales were lower than the prior corresponding period due to softer oil prices, Woodside said it remains ahead on a year-to-date basis versus pcp.
Full-year production guidance is now 192–197 million barrels of oil equivalent (mmboe), up from 188–195 mmboe.
Excluding its new Louisiana facility, expected 2025 capex has been reduced to US$3.7–4.0 billion (A$5.7–6.2 billion) from a prior US$4.0–4.5 billion range.