Slide 1: First Quarter 2022 Report
First QUARTER 2022 REPORT 26 April 2022
Slide 2: Oil production impacted by maintenance and weather
Oil production impacted by maintenance and weather First Quarter 2022 Report Previous period (Q4 2021 to Q1 2022) Corresponding period (Q1 2021 to Q1 2022) Liquids includes oil and condensate. Other includes domestic gas and LPG. Q1 2022 Q1 2022 0.2
Slide 3: Increase in produced LNG sales volume
Increase in produced LNG sales volume Revenue from the sale of produced and purchased hydrocarbons. Excludes processing and services revenue. Represents average realised price including exchange rate impact. Lagged Japan Customs-cleared Crude (JCC) is the typical reference price for long-term LNG co
Slide 4: Shareholder materials released for BHP Petroleum merger
First Quarter 2022 Report Shareholder materials released for BHP Petroleum merger WOODSIDE AND BHP PETROLEUM MERGER The proposed merger with BHP’s petroleum business will create a global independent energy company with the scale, diversity and resilience to provide value to shareholders and better n
Slide 5: Scarborough Field Development Plan approved
First Quarter 2022 Report Scarborough Field Development Plan approved SCARBOROUGH AND PLUTO TRAIN 2 Bechtel was issued full notice to proceed for Pluto Train 2 in January 2022.1 Major civil works for the construction accommodation village have commenced in Karratha, and first steel was cut for prefa
Slide 6: Pluto gas processing commenced at NWS
Pluto gas processing commenced at NWS PYXIS HUB The first phase of the Pyxis Hub project, comprising the wells in the Pyxis and Pluto North fields, is operating. Performance tests have confirmed the target flow rates of up to 220 million standard cubic feet per day (mmscf/d) for Pyxis and up to 170
Slide 7: Binding agreements signed for three new LNG carriers
Binding agreements signed for three new LNG carriers First Quarter 2022 Report MARKETING AND SHIPPING Woodside has signed binding agreements for the long-term charter hire of three new-build LNG carriers: One vessel owned by Hyundai Glovis Co. Ltd will be constructed by Hyundai Samho Heavy Industrie
Slide 8: Data tables
Data supplement containing production, sales, revenue and expenditure tables in Excel format is available on the Woodside website. DATA TABLES
Slide 9: Production summary
Production summary Q1 2022 includes 39.33 kt (0.35 MMboe) of LNG, 11,356 bbl (0.01 MMboe) of condensate and 0.51 kt (0.00 MMboe) of LPG processed at the Karratha Gas Plant through the Pluto-KGP Interconnector. Conversion factors are identified on slide 16. Includes independently marketed gas sales.
Slide 10: Product sales
Product sales Q1 2022 includes volumes processed at the Karratha Gas Plant via the Pluto-KGP Interconnector. Includes periodic adjustments reflecting the arrangements governing Wheatstone LNG sales of -21 kt (-0.18 MMboe) in Q1 2022, -29 kt (-0.26 MMboe) in Q4 2021 and -11 kt (-0.09 MMboe) in Q1 202
Slide 11: Revenue
Revenue Q1 2022 includes -$20 million, Q4 2021 includes -$20 million and Q1 2021 includes -$4 million, recognised in relation to periodic adjustments reflecting arrangements governing Wheatstone LNG sales. Q4 2021 also include $35 million relating to Pluto volumes delivered into a Wheatstone sales c
Slide 12: Realised prices
Realised prices Realised prices include periodic adjustments reflecting the arrangements governing Wheatstone LNG sales. Refer to slides 10 and 11 for further details. Conversion factors are identified on slide 16. Realised product prices for the quarter ended 31 March 2022 with appropriate comparat
Slide 13: Expenditure
Expenditure Exploration expense includes the reclassification of well results during the period. Q4 2021 includes $31 million of exploration and $40 million of evaluation expensed as a result of the write-off of Myanmar Block AD-7. Subsequent to the release of the Q4 2021 results, Woodside announced
Slide 14: Production rates
Production rates The Ngujima-Yin FPSO produces oil from the Vincent and Greater Enfield resources. The Okha FPSO produces oil from the Cossack, Wanaea, Lambert and Hermes resources. Domestic gas includes the aggregate Woodside equity domestic gas production from all Australian projects. Average dail
Slide 15: Exploration
Exploration Permits and licences Key changes to permit and licence holding during the quarter ended 31 March 2022 are noted below. Exploration or appraisal wells drilled No exploration wells were drilled during Q1 2022. Seismic activity No seismic activity was undertaken during Q1 2022. First Quarte
Slide 16: Notes on petroleum resource estimates, forward looking statements and conversion factors
Notes on petroleum resource estimates, forward looking statements and other conversion factors Notes on petroleum resource estimates Unless otherwise stated, all petroleum resource estimates are quoted as at the balance date (i.e. 31 December) of the Reserves Statement in Woodside’s most recent Annu