Woodside Energy Group (ASX:WDS) said its 1P (remaining proved reserves) fell to 1.98 billion barrels of oil equivalent (boe) at the end of 2024, from 2.45 billion boe in the same period a year earlier, according to a Monday filing with the Australian bourse.
The decline was due to the divestment of 25.1% interest in the Scarborough field during the reported year, the filing said.
Its 2P (remaining proved plus probable reserves) was 3.09 billion boe, compared with 3.76 billion boe a year earlier, the filing said.
The 2C contingent resources remaining fell to 5.86 billion boe in 2024 from 5.9 billion boe in 2023.
WDS said it expects unit production costs for the current year to reach AU$8.5 per boe to AU$9.2 per boe and capital expenditure between AU$4.5 billion to AU$5 billion.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.