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Woodside 3rd-qtr revenue slips 7 pct, cuts annual output forecast
October 18, 2017 / 10:45 PM / a month ago

Woodside 3rd-qtr revenue slips 7 pct, cuts annual output forecast

Oct 19 (Reuters) - Woodside Petroleum, Australia’s largest independent oil and gas producer, reported a 7 percent dip in third-quarter revenue from the same period a year ago, as output from the North West Shelf in Western Australia declined.

Revenue in the quarter slipped to $914 million from $988 million in the year-ago period, while output fell to 20.3 mmboe from 25.2 mmboe last year, compared with UBS’s forecast of 21.9 mmboe.

The company narrowed its forecast for full-year production to 84 million to 86 million barrels of oil equivalent (mmboe)from 84 mmboe to 90 mmboe. (Reporting by Christina Martin in Bengaluru; editing by Byron Kaye and G Crosse)

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