WOODSIDE ENERGY GROUP LTD (WDS) Form 6-K — Nov 5, 2026
Woodside Energy held its Capital Markets Day 2026, laying out a strategy of disciplined execution and stronger shareholder returns anchored by delivering Scarborough, Trion and Louisiana LNG. The company is targeting more than $40 billion in adjusted operating cash flow from 2027-2032, ~280 MMboe of annual sales in 2032, and a 12-15% ROACE by the mid-2030s on indicative assumptions of $70/bbl Brent and $10/MMBtu JKM. New efficiency targets include a $400 million structural cost base reduction against the 2025 baseline from 2028, plus a capital framework where every opportunity competes in a single pool.
Key figures
- Roace target
- 12-15% by mid-2030s
- Lng reliability
- 98% average at operated LNG assets
- Trion first oil
- targeted 2028, 71% complete, 100,000 bbl/day
- Annual sales 2032
- ~280 MMboe
- 2027 2028 breakeven
- $30/bbl
- Capex guidance 2026
- US$4,000-4,500 million
- Cost reduction target
- $400 million structurally lower cost base against 2025 baseline from 2028
- Operated lng capacity
- ~19 Mtpa current
- Louisiana lng first lng
- targeted 2029, 32% complete
- Scarborough first cargo
- on track for Q4 2026, 99% complete
- Production guidance 2026
- 174-181 MMboe
- Dividends payout framework
- base + discretionary dividend on adjusted operating cash flow, 20-40% pay-out band
- Production costs guidance 2026
- US$1,500-1,800 million
- Shareholder returns since 2022
- ~$13 billion
- Lng capacity under construction
- 21.5 Mtpa (Louisiana LNG 16.5 Mtpa, Pluto Train 2 5.0 Mtpa)
- 2027 2032 aocf scarborough pluto
- ~$2.9 billion p.a.
- Adjusted operating cash flow target
- >$40 billion from 2027-2032
AI analysis
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