Scarborough development was 38 complete
Record first half production
Declares interim dividend of 80 cents per share

Aug 22 Reuters Australia39;s Woodside Energy on Tuesday reported a 4.2 jump in firsthalf profit, reflecting record high production levels following full contribution from BHP Group39;s petroleum assets.

Woodside became a top10 global independent oil and gas producer after its merger with BHP39;s petroleum arm was finalised in 2022.

Oil and natural gas prices, which soared to record highs last year in the wake of the RussiaUkraine war, lost momentum in the first half but remained above the longterm average price levels.

Woodside reported firsthalf total production of 91.3 millions of barrels of oil equivalent MMBOE, a record for the company.

Australia39;s top independent gas producer said underlying net profit after tax was 1.90 billion for the six months ended June 30, down from 1.82 billion a year earlier, missing Visible Alpha consensus estimate of 2.02 billion.

It announced an interim dividend of 80 cents per share, falling short of consensus estimates of 86 cents.

Shares of the oil explorer fell 1.2 to A38.0 in early trade.

The company continued to progress work at its major facilities with the 12 billion Scarborough liquefied natural gas LNG project now 38 complete.

Gas from Scarborough, which is still seeking secondary environmental approvals, will feed Woodside39;s Pluto LNG plant, and the first LNG cargo is targeted for 2026.

The…