Exhibit 99.1

SECOND QUARTER REPORT FOR PERIOD ENDED 30 JUNE 2024

ASX: WDS | NYSE: WDS | LSE: WDS

Tuesday, 23 July 2024

Delivering on our growth strategy

Operations

• Quarterly production of 44.4 MMboe (488 Mboe/day), down 1% from Q1 2024 due to planned maintenance activities, weather impacts at North West Shelf and unplanned outages at Wheatstone and Julimar, partly offset by higher seasonal demand at Bass Strait and first oil at Sangomar. Full year production guidance remains unchanged.

• Quarterly revenue of $3,033 million, up 2% from Q1 2024 primarily due to timing of Pluto cargoes partially offset by lower realised prices.

• Sold 22% of total equity production in the quarter on prices linked to gas hub indices.¹ Full year gas hub guidance remains unchanged.

Projects

• The Sangomar Project achieved first oil in June and production continues to ramp up as planned. Subsequent to the quarter, the first cargo was loaded for delivery to Europe.

• The Scarborough Energy Project was 67% complete at the end of the quarter, with first LNG cargo expected in 2026.²

• The total estimated cost of the Scarborough Energy Project has increased by 4% to US$12.5 billion (US$8.2 billion Woodside share), significantly driven by scope maturation of the Pluto Train 1 modifications project.³

• The Trion Project continued to progress engineering, procurement, and contracting activities in accordance with the execution plan.

• Secured all primary environmental approvals for the Hydrogen Refueller @H2Perth and progressed offtake discussions for the H2OK Project.

Other

• Signed a sale and purchase agreement (SPA) with CPC Corporation, Taiwan (CPC) for the long-term supply of LNG to Taiwan.

• Secured $1 billion funding from Japan Bank for International Cooperation (JBIC) for the Scarborough Energy Project.

• Subsequent to the quarter, Woodside entered into a definitive agreement to acquire Tellurian and its US Gulf Coast Driftwood LNG development opportunity for an all-cash payment of approximately $900 million.

Woodside CEO Meg O’Neill said the company is on track to achieve its full year production guidance of 185-195 million barrels of oil equivalent (MMboe), with output for the second quarter of 44.4 MMboe.

“The first oil from our Sangomar project offshore Senegal was a significant milestone, delivering against our growth strategy. Subsequent to the quarter, we achieved peak gross rate of 75,000 barrels per day and production ramp-up continues as planned.

“The addition of Sangomar to Woodside’s portfolio will deliver enduring shareholder value and significant economic benefits for Senegal.

“Work on our other major growth projects continued at pace. The Scarborough Energy Project in Western Australia is now more than two-thirds complete and we remain on target for first LNG cargo in 2026.

“We are also progressing our opportunities in new energy, securing all primary environmental approvals for the Hydrogen Refueller @H2Perth, while continuing offtake discussions for H2OK in the US.

“We see ongoing demand for Woodside’s LNG in Asian markets, as evidenced by our long-term sale and purchase agreement with CPC Corporation, Taiwan, and the $1 billion loan agreement executed with JBIC to fund Woodside’s Scarborough Energy Project.

“The recent announcement of an agreement to acquire Tellurian and Driftwood LNG positions Woodside to be a global LNG powerhouse, adding scalable US LNG development exposure to our portfolio,” she said.

¹  45% of produced LNG cargoes in the quarter were sold on prices linked to gas hub indices.

²  The completion % excludes the Pluto Train 1 modifications project.

³  The total project cost includes the cost for the Scarborough project, the Pluto Train 2 project and the Pluto Train 1 modifications project. Refer to page 3 for additional information.

1  Second quarter report for period ended 30 June 2024

Comparative performance at a glance

			Q2 2024		Q1 2024		Change %			Q2 2023		Change %			YTD 2024		YTD 2023		Change %
Revenue	$	million		3,033		2,969		2	%		3,084		(2	%)		6,002		7,414		(19	%)
Production4		MMboe		44.4		44.9		(1	%)		44.5		—			89.3		91.3		(2	%)
Gas		MMscf/d		1,885		1,929		(2	%)		1,905		(1	%)		1,907		1,999		(5	%)
Liquids		Mbbl/d		157		155		1	%		155		1	%		156		154		1	%
Total		Mboe/d		488		494		(1	%)		489		—			491		504		(3	%)
Sales		MMboe		48.0		45.9		5	%		48.4		(1	%)		93.9		98.8		(5	%)
Gas		MMscf/d		2,103		1,967		7	%		2,170		(3	%)		2,035		2,268		(10	%)
Liquids		Mbbl/d		159		159		—			151		5	%		159		148		7	%
Total		Mboe/d		528		504		5	%		532		(1	%)		516		546		(5	%)
Average realised price	$	/boe		62		63		(2	%)		63		(2	%)		63		74		(15	%)
Capital expenditure5	$	million		1,233		1,179		5	%		1,321		(7	%)		2,412		2,637		(9	%)

Operations

North West Shelf (NWS) Project

• Achieved strong quarterly LNG reliability of 99.7%.

• Successfully completed planned offshore maintenance at Goodwyn Alpha (GWA).

• Progressed the proposed GWA infill development for potential final investment decision (FID) in 2025, which would involve tying back several fields via existing GWA subsea infrastructure.

Pluto LNG

• Achieved quarterly LNG reliability of 97.7%.

• Successfully completed a two-day turnaround at Pluto LNG to enable integration testing of the produced water handling unit into the Pluto A platform.

• Increased Pluto domestic gas production through the Pluto-KGP interconnector at the NWS.

Wheatstone and Julimar-Brunello

• Two separate unplanned outages occurred in the quarter, impacting the Julimar subsea production system and the Wheatstone facility respectively. Full production resumed in the quarter.

Bass Strait

• Completed offshore installation of the Kipper Compression modules, with the project progressing hook-up activities for a planned start-up in Q3 2024.

• The Gippsland Basin Joint Venture (GBJV) continues to optimise its facilities through the Gippsland Asset Streamlining project with the Halibut platform ceasing production as planned following declining oil production from the facility.

Other Australia

• Successfully completed the planned five-yearly maintenance turnaround at the Pyrenees floating production storage and offloading (FPSO) facility.

• A produced-water leak identified in the subsea system at the Pyrenees facility in January was rectified and production recommenced, returning to normal rates this quarter.

Gulf of Mexico

• Achieved quarterly reliability of 98.9% at Shenzi.

• Executed a planned major offshore facility turnaround at Atlantis.

• Achieved first water injection at the Argos platform in April 2024.

⁴  Q2 2024 includes 0.30 MMboe, Q1 2024 includes 0.29 MMboe and Q2 2023 includes 0.23 MMboe primarily from feed gas purchased from Pluto non-operating participants processed through the Pluto-KGP Interconnector.

⁵  Includes capital additions on oil and gas properties, exploration and evaluation capitalised and other corporate spend.

2  Second quarter report for period ended 30 June 2024

Trinidad & Tobago

• Safely completed a planned facility maintenance turnaround in June 2024 aimed at proactive risk and integrity management and control system upgrades.

Marketing

• Signed a long-term LNG SPA with CPC for the supply of approximately 6 million tonnes of LNG on a delivered basis over 10 years, commencing in July 2024. LNG delivered under the SPA will be sourced from volumes across Woodside’s global portfolio.

• Sold 45% of produced LNG at prices linked to gas hub indices in the quarter (34% year to date). This represents 22% of Woodside’s total equity production (16% year to date). Full year gas hub guidance remains unchanged.

• Took delivery of a new 174,000m³ long-term charter LNG vessel, the Woodside Scarlet Ibis, which will support efforts to lower the carbon intensity of Woodside’s LNG deliveries.

• Executed 14 PJ of Western Australian gas sales for delivery from May to the end of 2024. Woodside continues to support the Western Australian domestic market by offering additional supply for 2025, 2026 and 2027.

• Achieved record trucked LNG deliveries of 525 TJ during the quarter to customers in northern Western Australia. Woodside has now delivered more than 2000 trailers of LNG since commencement of operations at the Pluto LNG Truck Loading Facility, offering a lower-carbon alternative to diesel.⁶

Projects

Scarborough Energy Project

• A cost and schedule review was performed for the integrated Scarborough Energy Project. The schedule remains unchanged, with first LNG cargo targeted for 2026. The revised total project cost estimate is US$12.5 billion (US$8.2 billion Woodside share), a 4% increase from the previous cost estimate at FID of US$12 billion. The cost increase is significantly driven by scope maturation of the Pluto Train 1 modifications project.⁷

• The Scarborough and Pluto Train 2 project was 67% complete at the end of the quarter.

• 29 Pluto Train 2 modules have been delivered to site, with 25 modules set in position at the end of the quarter and site works continuing to ramp up.

• Fabrication of the floating production unit (FPU) hull and topsides progressed. The living quarters module was installed on the topsides, which has achieved structural completion.

• Trunkline installation has transitioned from the 36” to 32” pipe and is now more than 50% complete.

• Two development wells have been drilled, with one well completed and the other planned to be completed in H2 2024. Reservoir quality is aligned with pre-drill estimates.

• Installation and testing of the three flowlines was completed.

• All major engineering reviews for Pluto Train 1 modifications have been completed and approximately 80% of materials and equipment have been ordered. Mobilisation of personnel to both the module yard and Pluto site commenced.

Sangomar Field Development Phase 1

• Achieved first oil from the Sangomar field in June 2024, marking the delivery of Senegal’s first offshore oil project.

• Finalised sales for initial Sangomar crude cargoes loading in July 2024, receiving interest from European and Asian refiners. The first cargo was loaded subsequent to the quarter.

⁶  Woodside uses this term to describe the characteristic of having lower levels of associated potential greenhouse gas emissions when compared to historical and/or current conventions or analogues, for example relating to an otherwise similar product.

⁷  The total project cost includes the cost for the Scarborough project, the Pluto Train 2 project and the Pluto Train 1 modifications project. Woodside share is based on a participating interest in the Scarborough Joint Venture (SJV) of 74.9% (compared to 73.5% at FID) and assumes completion of the sell-down of a 15.1% participating interest in the SJV to JERA. Woodside share excludes the impact of GIP’s additional contribution to Pluto Train 2 ($0.8 billion).

3  Second quarter report for period ended 30 June 2024

• The project was 98% complete at the end of the quarter.

• The development drilling program continued with 21 of 23 wells drilled and completed. An additional 24th well approved by the joint venture in May 2023 was also drilled and completed in the period.

• Commissioning activities and the safe ramp up of production are expected to continue through 2024.

Trion

• Awarded contracts for the FPU dry transportation, gas gathering line pipe and drilling equipment and consumables.

• Progressed FPU engineering, procurement and construction activities with procurement of key equipment and the integration of vendor data into the design.

• Completed floating, storage and offloading vessel (FSO) front-end engineering design (FEED).

Decommissioning

• The Griffin, Stybarrow and Enfield decommissioning campaign continued with ~50km of flexible flowlines and umbilicals recovered in the quarter.

• The final two of 18 xmas trees were removed from Enfield and wellhead severance commenced, with four completed at the end of the quarter.

• At Bass Strait, offshore execution of the plug and abandonment of two subsea wells commenced, utilising the Q7000 light well intervention vessel.

• The GBJV also progressed FEED of the facility preparation scope for removal of platforms no longer in use and continued to execute preparatory decommissioning activities.

Exploration and development

Calypso

• Continued pre-FEED engineering studies to mature the technical definition and cost estimate for the deepwater infield host.

• Continued fiscal and marketing negotiations with various counterparties to assess the commercial options to monetise the Calypso resource.

Browse

• In June 2024, a Declaration of an Identified Greenhouse Gas Storage Formation was made by the Commonwealth Government over the Calliance Storage Formation within the G-8-AP Greenhouse Gas Assessment Permit (held by Woodside as Operator of Browse). This declaration supports the proposed carbon capture and storage solution incorporated into the Browse design.

Sunrise

• The Sunrise Joint Venture participants continued to work with the Australian and Timor Leste governments to progress a new Production Sharing Contract, Petroleum Mining Code and fiscal regime.

Exploration

• In Congo, the Niamou Marine-1 well spud in May 2024 under the Marine XX joint venture operated by TotalEnergies.

4  Second quarter report for period ended 30 June 2024

New energy and carbon solutions

H2OK

• Continued to advance discussions with potential offtakers on pricing and volumes.

• Woodside is awaiting final guidance for the 45V Clean Hydrogen Production Tax Credit.

Woodside Solar

• Working with the Western Australian Government to progress its plans to develop common user transmission infrastructure required to support the proposed project.

• FID readiness and first solar import will be subject to securing access to this new infrastructure.

Hydrogen Refueller @H2Perth

• Secured primary environmental approvals for the Hydrogen Refueller @H2Perth.

• Commenced factory acceptance testing for key project equipment packages.

• Woodside is targeting supply of hydrogen to Western Australian industrial customers in 2025.

Carbon capture and storage (CCS) opportunities

• Continued to progress engineering and marketing activities and required approvals for the Angel CCS project.

Carbon Credits Portfolio

• Subsequent to the quarter, Woodside signed an agreement to fund the reforestation of 5000 hectares of land in the Chaco region in Paraguay. The Woodside portion of the project is expected to generate approximately 1.6 million carbon credits over 40 years.

Corporate activities

Hedging

• Woodside hedged approximately 29.3 MMboe of 2024 oil production at an average price of approximately $75.6 per barrel, with approximately 49% delivered as of 30 June 2024.

• Woodside additionally hedged approximately 15 MMboe of 2025 oil production at an average price of approximately $81.2 per barrel.

• Woodside also has a hedging program for Corpus Christi LNG volumes designed to protect against downside pricing risk. These hedges are Henry Hub (HH) and Title Transfer Facility (TTF) commodity swaps. Approximately 70% of volumes for the remainder of 2024, 48% of 2025 and 9% of 2026 volumes have been hedged.

• The realised value of all hedged positions for the half-year ended 30 June 2024 is a pre-tax expense of approximately $45 million, with $111 million related to oil price hedges offset by $65 million profit related to Corpus Christi hedges and $1 million related to other hedge positions. Hedging losses will be included in “other expenses” in the full-year financial statements.

Funding

• In May 2024, Woodside secured a $1 billion, 10-year loan from JBIC to support the Scarborough Energy Project. This loan was secured at prevailing market rates associated with Woodside’s credit rating.

Climate and sustainability

• Woodside’s Annual General Meeting (AGM) took place on 24 April 2024, where all resolutions were passed except for the Climate Transition Action Plan and 2023 Progress Report (CTAP), which received a vote of 58.36% against it. Management is reflecting on the results of the CTAP vote.

• Woodside published its 2023 Social Contribution Impact Report in April 2024 and its 2023 Modern Slavery Statement in June 2024.

5  Second quarter report for period ended 30 June 2024

• Woodside hosted a methane masterclass during the Australian Energy Producers (AEP) conference as part of its commitment to the decarbonisation of its activities and to share Woodside’s best practices on methane emissions reduction.

2024 half-year results and teleconference

• Woodside’s Half-Year Report 2024 and associated investor briefing will be released to the market on Tuesday, 27 August 2024. It will also be available on Woodside’s website at http://www.woodside.com/.

Upcoming events 2024

August	27	Half-Year 2024 report
September	16	US investor event
October	16	Third quarter 2024 report

2024 full-year guidance

		Prior	Current
Production	MMboe	185 –195 (505 – 533 Mboe/day)		No change
Capital expenditure8	$ billion	5.0 – 5.5		No change
Gas hub exposure9	% of produced LNG	26 – 33		No change

Contacts:
INVESTORS	MEDIA	REGISTERED ADDRESS
		Woodside Energy Group Ltd.
		ACN 004 898 962
Marcela Louzada	Christine Forster	Mia Yellagonga
M: +61 456 994 243	M: +61 484 112 469	11 Mount Street
E: investor@woodside.com	E: christine.forster@woodside.com	Perth WA 6000
		Australia
		T +61 8 9348 4000
		www.woodside.com

This announcement was approved and authorised for release by Woodside’s Disclosure Committee.

⁸  Capital expenditure includes the following participating interests; Sangomar (82%); Scarborough (90% following completion of the transaction with LNG Japan in March 2024 and 74.9% following completion of the transaction with JERA, expected in the second half of 2024), Pluto Train 2 (51%) and Trion (60%). Trion capital expenditure includes Pemex carry. This guidance assumes no change to these participating interests in 2024. This excludes the impact of any future asset sell-downs, acquisitions or other changes in equity.

⁹  Gas hub indices include Japan Korea Marker (JKM), TTF and National Balancing Point (NBP). It excludes HH.

6  Second quarter report for period ended 30 June 2024

Production summary

		Q2 2024		Q1 2024		Q2 2023		YTD 2024		YTD 2023
Gas	MMscf/d		1,885		1,929		1,905		1,907		1,999
Liquids	Mbbl/d		157		155		155		156		154
Total	Mboe/d		488		494		489		491		504
		Q2 2024		Q1 2024		Q2 2023		YTD 2024		YTD 2023
AUSTRALIA
LNG
North West Shelf	Mboe		7,088		8,192		8,746		15,280		18,419
Pluto10	Mboe		11,726		11,754		8,765		23,480		20,919
Wheatstone	Mboe		1,959		2,357		2,588		4,316		5,044
Total	Mboe		20,773		22,303		20,099		43,076		44,382
Pipeline gas
Bass Strait	Mboe		3,410		2,359		4,170		5,769		7,303
Other11	Mboe		3,848		3,278		3,080		7,126		6,117
Total	Mboe		7,258		5,637		7,250		12,895		13,420
Crude oil and condensate
North West Shelf	Mbbl		1,260		1,412		1,546		2,672		3,230
Pluto10	Mbbl		933		931		699		1,864		1,660
Wheatstone	Mbbl		380		462		425		842		833
Bass Strait	Mbbl		503		492		904		995		1,681
Macedon & Pyrenees	Mbbl		107		109		759		216		1,390
Ngujima-Yin	Mbbl		974		886		—		1,860		869
Okha	Mbbl		491		466		421		957		852
Total	Mboe		4,648		4,758		4,754		9,406		10,515
NGL
North West Shelf	Mbbl		279		290		339		569		631
Pluto10	Mbbl		59		54		45		113		95
Bass Strait	Mbbl		941		832		1,191		1,773		1,914
Total	Mboe		1,279		1,176		1,575		2,455		2,640
Total Australia12	Mboe		33,958		33,874		33,678		67,832		70,957
	Mboe/d		373		372		370		373		392

¹⁰  Q2 2024 includes 2.18 MMboe of LNG, 0.10 MMboe of condensate and 0.06 MMboe of NGL, Q1 2024 includes 2.60 MMboe of LNG, 0.10 MMboe of condensate and 0.05 MMboe of NGL and Q2 2023 includes 1.96 MMboe of LNG and 0.08 MMboe of condensate and 0.04 MMboe of NGL processed at the Karratha Gas Plant (KGP) through the Pluto-KGP Interconnector.

¹¹  Includes the aggregate Woodside equity domestic gas production from all Western Australian projects.

¹²  Q2 2024 includes 0.30 MMboe, Q1 2024 includes 0.29 MMboe and Q2 2023 includes 0.23 MMboe primarily from feed gas purchased from Pluto non-operating participants processed through the Pluto-KGP Interconnector.

7  Second quarter report for period ended 30 June 2024

		Q2 2024		Q1 2024		Q2 2023		YTD 2024		YTD 2023
INTERNATIONAL
Pipeline gas
Gulf of Mexico	Mboe		324		360		349		684		679
Trinidad & Tobago	Mboe		1,736		2,503		2,723		4,239		4,959
Other13	Mboe		—		—		—		—		30
Total	Mboe		2,060		2,863		3,072		4,923		5,668
Crude oil and condensate
Atlantis	Mbbl		2,019		2,441		2,792		4,460		5,488
Mad Dog	Mbbl		2,944		2,765		1,627		5,709		2,566
Shenzi	Mbbl		2,333		2,405		2,599		4,738		5,195
Trinidad & Tobago	Mbbl		94		126		294		220		591
Sangomar	Mbbl		540		—		—		540		—
Other13	Mbbl		81		81		81		162		120
Total	Mboe		8,011		7,818		7,393		15,829		13,960
NGL
Gulf of Mexico	Mbbl		355		393		350		748		681
Other13	Mbbl		—		—		—		—		17
Total	Mboe		355		393		350		748		698
Total International	Mboe		10,426		11,074		10,815		21,500		20,326
	Mboe/d		115		122		119		118		112
Total production	Mboe		44,384		44,948		44,493		89,332		91,283
	Mboe/d		488		494		489		491		504

¹³  Overriding royalty interests held in the GoM for several producing wells.

8  Second quarter report for period ended 30 June 2024

Product sales

		Q2 2024		Q1 2024		Q2 2023		YTD 2024		YTD 2023
Gas	MMscf/d		2,103		1,967		2,170		2,035		2,268
Liquids	Mbbl/d		159		159		151		159		148
Total	Mboe/d		528		504		532		516		546
		Q2 2024		Q1 2024		Q2 2023		YTD 2024		YTD 2023
AUSTRALIA
LNG
North West Shelf	Mboe		7,081		8,008		9,003		15,089		19,567
Pluto	Mboe		12,749		10,513		9,592		23,262		20,902
Wheatstone14	Mboe		2,264		2,589		2,312		4,853		4,662
Total	Mboe		22,094		21,110		20,907		43,204		45,131
Pipeline gas
Bass Strait	Mboe		3,508		2,570		4,113		6,078		7,195
Other15	Mboe		3,435		2,894		3,040		6,329		5,979
Total	Mboe		6,943		5,464		7,153		12,407		13,174
Crude oil and condensate
North West Shelf16	Mbbl		1,904		1,214		1,595		3,118		2,684
Pluto	Mbbl		1,283		640		614		1,923		1,228
Wheatstone	Mbbl		666		329		309		995		659
Bass Strait	Mbbl		271		597		1,035		868		1,117
Ngujima-Yin	Mbbl		1,018		999		—		2,017		1,141
Okha	Mbbl		572		618		—		1,190		653
Macedon & Pyrenees	Mbbl		—		496		1,032		496		1,550
Total	Mboe		5,714		4,893		4,585		10,607		9,032
NGL
North West Shelf	Mbbl		266		255		255		521		425
Pluto	Mbbl		49		55		73		104		255
Bass Strait	Mbbl		361		785		903		1,146		2,012
Total	Mboe		676		1,095		1,231		1,771		2,692
Total Australia	Mboe		35,427		32,562		33,876		67,989		70,029
	Mboe/d		389		358		372		374		387

¹⁴  Includes periodic adjustments reflecting the arrangements governing Wheatstone LNG sales of 0.19 MMboe in Q2 2024, 0.28 MMboe in Q1 2024 and 0.15 MMboe in Q2 2023.

¹⁵  Includes the aggregate Woodside equity domestic gas production from all Western Australian projects.

¹⁶  Includes reclassification of purchased condensate volumes from NWS JV Participants to Marketing liquids of 0.26 MMboe in Q2 2023.

9  Second quarter report for period ended 30 June 2024

		Q2 2024		Q1 2024		Q2 2023		YTD 2024		YTD 2023
INTERNATIONAL
Pipeline gas
Gulf of Mexico	Mboe		336		286		341		622		684
Trinidad & Tobago	Mboe		1,606		2,457		2,700		4,063		4,995
Other17	Mboe		5		6		6		11		13
Total	Mboe		1,947		2,749		3,047		4,696		5,692
Crude oil and condensate
Atlantis	Mbbl		2,013		2,426		2,710		4,439		5,378
Mad Dog	Mbbl		3,043		2,626		1,628		5,669		2,569
Shenzi	Mbbl		2,430		2,352		2,652		4,782		5,325
Trinidad & Tobago	Mbbl		19		52		248		71		661
Sangomar	Mbbl		—		—		—		—		—
Other17	Mbbl		59		60		65		119		128
Total	Mboe		7,564		7,516		7,303		15,080		14,061
NGL
Gulf of Mexico	Mbbl		454		413		363		867		705
Other17	Mbbl		3		3		3		6		7
Total	Mboe		457		416		366		873		712
Total International	Mboe		9,968		10,681		10,716		20,649		20,465
	Mboe/d		110		117		118		113		113
MARKETING18
LNG	Mboe		2,593		2,086		3,532		4,679		8,015
Liquids19	Mboe		37		571		260		608		260
Total	Mboe		2,630		2,657		3,792		5,287		8,275
Total Marketing	Mboe		2,630		2,657		3,792		5,287		8,275
Total sales	Mboe		48,025		45,900		48,384		93,925		98,769
	Mboe/d		528		504		532		516		546

¹⁷  Overriding royalty interests held in the GoM for several producing wells.

¹⁸  Purchased volumes sourced from third parties.

¹⁹  Includes reclassification of purchased condensate volumes from NWS JV Participants of 0.26 MMboe in Q2 2023.

10  Second quarter report for period ended 30 June 2024

Revenue

	Q2 2024		Q1 2024		Q2 2023		YTD 2024		YTD 2023
AUSTRALIA
North West Shelf		524		592		667		1,116		1,937
Pluto		891		745		724		1,636		1,855
Wheatstone20		202		223		204		425		528
Bass Strait		247		223		328		470		539
Macedon		48		51		53		99		104
Ngujima-Yin		91		92		—		183		100
Okha		46		50		—		96		56
Pyrenees		—		44		89		44		139
INTERNATIONAL
Atlantis		168		196		203		364		402
Mad Dog		249		204		116		453		184
Shenzi		205		190		200		395		399
Trinidad & Tobago21		38		61		112		99		248
Sangomar		—		—		—		—		—
Other22		5		5		4		10		9
Marketing revenue23		265		227		344		492		823
Total sales revenue24		2,979		2,903		3,044		5,882		7,323
Processing revenue		52		61		38		113		85
Shipping and other revenue		2		5		2		7		6
Total revenue		3,033		2,969		3,084		6,002		7,414

²⁰  Q2 2024 includes -$10 million, Q1 2024 includes $24 million and Q2 2023 includes $11 million recognised in relation to periodic adjustments reflecting the arrangements governing Wheatstone LNG sales. These amounts will be included within other income/(expenses) in the financial statements rather than operating revenue.

²¹  Includes the impact of periodic adjustments related to the production sharing contract (PSC).

²²  Overriding royalty interests held in the GoM for several producing wells.

²³  Values include revenue generated from purchased LNG and Liquids volumes, as well as the marketing margin on the sale of Woodside’s produced LNG and liquids portfolio. Marketing revenue excludes hedging impacts and cargo swaps where a Woodside produced cargo is sold and repurchased from the same counterparty to optimise the portfolio. The margin for these cargo swaps is recognised net in other income.

²⁴  Total sales revenue excludes all hedging impacts.

11  Second quarter report for period ended 30 June 2024

Realised prices

		Q2		Q1		Q2			Q2		Q1		Q2
	Units	2024		2024		2023		Units	2024		2024		2023
LNG produced25	$/MMBtu		9.6		10.4		10.9	$/boe		60		67		69
LNG traded26	$/MMBtu		9.1		9.1		11.0	$/boe		58		59		70
Pipeline gas								$/boe		38		34		37
Oil and condensate	$/bbl		83		79		75	$/boe		83		79		75
NGL	$/bbl		44		47		41	$/boe		44		47		41
Liquids traded26	$/bbl		79		60		70	$/boe		79		60		70
Average realised price for pipeline gas:
Western Australia								A$/GJ		6.5		6.4		6.1
East coast Australia								A$/GJ		14.3		13.7		12.6
International								$/Mcf		3.9		4.6		6.7
Average realised price								$/boe		62		63		63
Dated Brent								$/bbl		85		83		78
JCC (lagged three months)								$/bbl		84		92		87
WTI								$/bbl		81		77		74
JKM								$/MMBtu		9.6		11.9		12.6
TTF								$/MMBtu		9.2		9.8		12.6

Average realised price decreased 2% from the prior quarter reflecting lower JKM, TTF and JCC.

²⁵  Realised prices include the impact of periodic adjustments reflecting the arrangements governing Wheatstone LNG sales.

²⁶  Excludes any additional benefit attributed to produced volumes through third-party trading activities.

12  Second quarter report for period ended 30 June 2024

Capital expenditure (US$ million)

	Q2 2024		Q1 2024		Q2 2023		YTD 2024		YTD 2023
Exploration and evaluation capitalised27,28		38		38		92		76		129
Oil and gas properties		1,135		1,090		1,229		2,225		2,508
Other29		60		51		51		111		138
Total		1,233		1,179		1,372		2,412		2,775
	Q2 2024		Q1 2024		Q2 2023		YTD 2024		YTD 2023
Sangomar		206		210		272		416		551
Scarborough		563		574		578		1,137		1,204
Trion		137		97		—		234		—
Other		327		298		522		625		1,020
Total		1,233		1,179		1,372		2,412		2,775
Other expenditure (US$ million)
	Q2 2024		Q1 2024		Q2 2023		YTD 2024		YTD 2023
Exploration and evaluation expensed30		46		54		81		100		133
Permit amortisation		3		3		2		6		4
Total		49		57		83		106		137
Trading costs		128		145		237		273		622

²⁷  Exploration capitalised represents expenditure on successful and pending wells, plus permit acquisition costs during the period and is net of well costs reclassified to expense on finalisation of well results.

²⁸  Project final investment decisions result in amounts of previously capitalised exploration and evaluation expense (from current and prior years) being transferred to oil and gas properties. This table does not reflect the impact of such transfers.

²⁹  Other primarily incorporates corporate spend including SAP build costs, carbon costs and other investments.

³⁰  Includes seismic and general permit activities and other exploration costs.

13  Second quarter report for period ended 30 June 2024

Exploration or appraisal wells drilled

Region

Permit Area

Well

Target

Interest (%)

Spud Date

Water depth (m)

Planned well depth (m)31

Remarks

Congo

Marine XX

Niamou Marine 1

Oil

22.5% Non-Operator

24 May 2024

2,094

7,015

Drilling

Permits and licences

Key changes to permit and licence holdings during the quarter ended 30 June 2024 are noted below.

Region	Permits or licence areas	Change in interest (%)			Current interest (%)		Remarks
Australia	WA-356-P		(65	%)		0	License exit as part of portfolio optimisation
Gulf of Mexico	GC 738		(23.9	%)		0	License expiry
Egypt – Herodotus Basin	North Sidi Barani Offshore (Block 2)		(27	%)		0	License expiry

³¹  Well depths are referenced to the rig rotary table.

14  Second quarter report for period ended 30 June 2024

Production rates

Average daily production rates (100% project) for the quarter ended 30 June 2024:

	Woodside share32			Production rate (100% project, Mboe/d)				Remarks
				June 2024		Mar 2024
AUSTRALIA
NWS Project
LNG		30.37	%		256		293	Production was lower due to weather event impacts and planned offshore maintenance at Goodwyn Alpha.
Crude oil and condensate		30.21	%		46		56
NGL		30.44	%		10		10
Pluto LNG
LNG		90.00	%		116		112	Production was higher primarily due to improved reliability.
Crude oil and condensate		90.00	%		10		10
Pluto-KGP Interconnector
LNG		100.00	%		24		29	LNG production lower due to increased domestic gas production.
Crude oil and condensate		100.00	%		1		1
NGL		100.00	%		1		1
Wheatstone33
LNG		10.18	%		212		224	Production was lower due to two separate unplanned outages, impacting the Julimar subsea system and the Wheatstone facility respectively.
Crude oil and condensate		13.85	%		30		31
Bass Strait
Pipeline gas		43.70	%		86		61	Production was higher due to increased seasonal domestic gas demand.
Crude oil and condensate		46.17	%		12		12
NGL		47.13	%		23		19
Australia Oil
Ngujima-Yin		60.00	%		18		13	Production at Ngujima-Yin and Okha was higher due to less weather downtime.
Okha		50.00	%		11		8	Production at Pyrenees was low due to a subsea produced-water leak and the planned turnaround.
Pyrenees		62.90	%		2		2
Other
Pipeline gas25F34					42		33	Production was higher due to increased pipeline gas deliveries from KGP, including from Pluto via the Pluto-KGP Interconnector.

³²  Woodside share reflects the net realised interest for the period.

³³  The Wheatstone asset processes gas from several offshore gas fields, including the Julimar and Brunello fields, for which Woodside has 65% participating interest and is the operator.

³⁴  Includes the aggregate Woodside equity domestic gas production from all Western Australian projects.

15  Second quarter report for period ended 30 June 2024

	Woodside share35			Production rate (100% project, Mboe/d)				Remarks
				June 2024		Mar 2024
INTERNATIONAL
Atlantis
Crude oil and condensate		38.50	%		58		70	Production was lower due to the planned turnaround.
NGL		38.50	%		4		4
Pipeline Gas		38.50	%		5		6
Mad Dog
Crude oil and condensate		20.86	%		155		146
NGL		20.86	%		5		5
Pipeline Gas		20.86	%		3		3
Shenzi
Crude oil and condensate		65.09	%		39		41
NGL		65.20	%		2		2
Pipeline Gas		65.19	%		1		2
Trinidad & Tobago
Crude oil and condensate		58.75	%36		2		2	Production was lower due to planned maintenance activities.
Pipeline gas		48.90	%36		39		54
Sangomar
Crude Oil37		78.74	%		8		—	Field achieved first oil in June.

³⁵  Woodside share reflects the net realised interest for the period.

³⁶  Operations governed by production sharing contracts, Woodside share changes monthly.

³⁷  Sangomar production rate per day reflects total production in Q2 2024 divided by total number of days in the quarter.

16  Second quarter report for period ended 30 June 2024

Disclaimer and important notice

Forward looking statements

This report contains forward-looking statements with respect to Woodside’s business and operations, market conditions, results of operations and financial condition, including, for example, but not limited to, statements regarding development, completion and execution of Woodside’s projects, guidance with respect to production, expectations regarding future capital commitment, future cash flows, future results of projects, operating activities, new energy products, accounting decisions including impairments, commencement dates under supply arrangements, construction and delivery dates, expectations and plans for renewables production capacity and investments in, and development of, renewables projects. All statements, other than statements of historical or present facts, are forward-looking statements and generally may be identified by the use of forward-looking words such as ‘guidance’, ‘foresee’, ‘likely’, ‘potential’, ‘anticipate’, ‘believe’, ‘aim’, ‘estimate’, ‘expect’, ‘intend’, ‘may’, ‘target’, ‘plan’, ‘strategy’, ‘forecast’, ‘outlook’, ‘project’, ‘schedule’, ‘will’, ‘should’, ‘seek’ and other similar words or expressions. Similarly, statements that describe the objectives, plans, goals or expectations of Woodside are forward-looking statements.

Forward-looking statements in this report are not guidance, forecasts, guarantees or predictions of future events or performance, but are in the nature of future expectations that are based on management’s current expectations and assumptions. Those statements and any assumptions on which they are based are only opinions and are subject to change without notice and are subject to inherent known and unknown risks, uncertainties, assumptions and other factors, many of which are beyond the control of Woodside, its related bodies corporate and their respective officers, directors, employees, advisers or representatives. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, fluctuations in commodity prices, actual demand, currency fluctuations, geotechnical factors, drilling and production results, gas commercialisation, development progress, operating results, engineering estimates, reserve and resource estimates, loss of market, industry competition, environmental risks, climate related risks, physical risks, legislative, fiscal and regulatory developments, changes in accounting standards, economic and financial markets conditions in various countries and regions, political risks, project delay or advancement, regulatory approvals, the impact of armed conflict and political instability (such as the ongoing conflicts in Ukraine and the Middle East) on economic activity and oil and gas supply and demand, cost estimates, the effect of future regulatory or legislative actions on Woodside or the industries in which it operates, including potential changes to tax laws, and the impact of general economic conditions, inflationary conditions, prevailing exchange rates and interest rates and conditions in financial markets.

A more detailed summary of the key risks relating to Woodside and its business can be found in the “Risk” section of Woodside’s most recent Annual Report released to the Australian Securities Exchange and the London Stock Exchange and in Woodside’s most recent Annual Report on Form 20-F filed with the United States Securities and Exchange Commission and available on the Woodside website at https://www.woodside.com/investors/reports-investor-briefings. You should review and have regard to these risks when considering the information contained in this report.

If any of the assumptions on which a forward-looking statement is based were to change or be found to be incorrect, this would likely cause outcomes to differ from the statements made in this report.

All forward-looking statements contained in this report reflect Woodside’s views held as at the date of this report and, except as required by applicable law, Woodside does not intend to, undertake to, or assume any obligation to, provide any additional information or update or revise any of these statements after the date of this report, either to make them conform to actual results or as a result of new information, future events, changes in Woodside’s expectations or otherwise.

Investors are strongly cautioned not to place undue reliance on any forward-looking statements. Actual results or performance may vary materially from those expressed in, or implied by, any forward-looking statements. None of Woodside nor any of its related bodies corporate, nor any of their respective officers, directors, employees, advisers or representatives, nor any person named in this report or involved in the preparation of the information in this report, makes any representation, assurance, guarantee or warranty (either express or implied) as to the accuracy or likelihood of fulfilment of any forward-looking statement, or any outcomes, events or results expressed or implied in any forward-looking statement in this report.

Past performance (including historical financial and operational information) is given for illustrative purposes only. It should not be relied on as, and is not necessarily, a reliable indicator of future performance, including future security prices.

17  Second quarter report for period ended 30 June 2024

Other important information

All figures are Woodside share for the quarter ending 30 June 2024, unless otherwise stated.

All references to dollars, cents or $ in this report are to US currency, unless otherwise stated.

References to “Woodside” may be references to Woodside Energy Group Ltd and/or its applicable subsidiaries (as the context requires).

Units of measure and conversion factors

Product	Unit		Conversion factor
Natural gas		5,700 scf		1 boe
Condensate		1 bbl		1 boe
Oil		1 bbl		1 boe
Natural gas liquids		1 bbl		1 boe
Facility	Unit		LNG conversion factor
Karratha Gas Plant		1 tonne		8.08 boe
Pluto Gas Plant		1 tonne		8.34 boe
Wheatstone		1 tonne		8.27 boe

The LNG conversion factor from tonne to boe is specific to volumes produced at each facility and is based on gas composition which may change over time.

Term	Definition
bbl	barrel
bcf	billion cubic feet of gas
boe	barrel of oil equivalent
GJ	gigajoule
Mbbl	thousand barrels
Mbbl/d	thousand barrels per day
Mboe	thousand barrels of oil equivalent
Mboe/d	thousand barrels of oil equivalent per day
Mcf	thousand cubic feet of gas
MMboe	million barrels of oil equivalent
MMBtu	million British thermal units
MMscf/d	million standard cubic feet of gas per day
PJ	petajoules
scf	standard cubic feet of gas
TJ	terajoule

18  Second quarter report for period ended 30 June 2024