MELBOURNE, Australia-- Woodside Petroleum Ltd.'s sales revenue
jumped 25% in the second quarter of the year, buoyed by higher
production volumes and better prices for oil and natural gas.
The strong performance is forecast to continue--with the
company's target for production this year rising to 89 million to
94 million barrels of oil equivalent, up from an earlier forecast
for 86 million to 93 million.
Revenue in the second quarter rose to 1.68 billion U.S. dollars
in the three months through June from $1.35 billion a year earlier,
Australia's second-largest oil and gas producer--after BHP Billiton
Ltd.--said in a statement Thursday. Output in the quarter increased
by almost 18% to 23.5 million barrels from 20 million the year
before.
The company didn't disclose earnings for the period, but said it
expected a loss of between $20 million and $40 million on the sale
of certain oil and gas assets. It also forecast an Australian
petroleum resources rent tax of $80 million-$100 million, and
depreciation and amortization on its oil and gas properties of $680
million-$720 million.
Write to Robb M. Stewart at robb.stewart@wsj.com
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