The Woodside Energy Group Ltd (ASX: WDS) share price is up around 2% after a strong year of production in 2025.
Woodside is a major producer of oil and LNG with projects in the Asia Pacific region as well as globally.
December 2025 production
The company said that its quarterly production for the three months to 31 December 2025 was 48.9 million barrels of oil equivalent (MMboe). That was down 4% compared to the third quarter of 2025.
This brought the full-year production to a record of 198.8 MMboe, which exceeded 2025 production guidance.
It revealed that it achieved an average realised quarterly price of $57 per barrel of oil equivalent (BOE), down 5% from the third quarter of 2025, reflecting lower oil-linked and gas pricing.
Woodside said that the decline was driven by seasonal weather impacts and lower Australian east-coast demand.
The ASX energy share said that it delivered strong oil asset performance with 99.2% reliability at Sangomar and 98% reliability at Shenzi. It also achieved 100% reliability at Pluto LNG and 99.8% reliability at the North West Shelf Project.
Project highlights
The oil business said the Scarborough project was 94% complete and is on budget and on track for first LNG in the fourth quarter of 2026. Scarborough’s floating production unit departed China and arrived in Australia after the end of the quarter.
The Beaumont ammonia project achieved its targeted first ammonia production in December.
Woodside said that the Trion project was 50% complete and remains on target for first oil production in 2028.
The business said that Louisiana LNG project, comprising three trains, was 22% complete. Train 1 was 28% complete, with the project targeting first LNG in 2029.
Finally, the company said that Woodside has approved the Greater Western Flank phase 4 project, a subsea tie-back investment to the existing North West Shelf project.
Woodside also noted that it completed the sell-down of a 10% interest in Loisiana LNG, as well as the sale of an 80% interest (and operatorship) in Driftwood Pipeline to Williams.
Final thoughts on the Woodside share price
The company has provided guidance for 2026 of between 172MMboe to 186 MMboe, reflecting planned down time at Pluto as it prepares the facility to begin processing Scarborough gas and for the first LNG cargo in the fourth quarter of 2026.
Environmental concerns aside, the business is performing solidly for shareholders. It has dropped heavily over the last three years, but whether it’s a good buy depends on what happens with energy prices, which is unknowable.
For me, there are other ASX dividend shares that I think would make a better buy where growth is a bit more certain.
