The S&P/ ASX200's (ASX: XJO) largest energy business in Woodside Petroleum Limited (ASX: WPL) this morning reported revenue up 4% to $1,2221 million for the quarter ending March 31 2019. This despite disruption from multiple cyclones over the period.
WA-based Woodside is mainly an LNG producer with its two core Pluto and North West Shelf assets producing the lion's share of LNG, with the company reporting that its Pluto project also has a new 'truck loading' facility that will support greater production going forward.
Despite the sales growth, total LNG production was actually marginally down compared to the prior corresponding quarter, with Woodside benefiting slightly from higher average energy prices received over the period.
On the back of rising oil prices and profits Woodside has also managed to pay out close to $2 per share to investors in dividends over the last 12 months. That places it on a 5.6% trailing yield based on a share price of $35.48 today.
Other leaders in the LNG space to report this week include Oil Search Limited (ASX: OSH) and Santos Ltd (ASX: STO).
