Here's why the Woodside share price surged 12% in February

Investors sent Woodside shares soaring in February. But why?

The Woodside Energy Group Ltd (ASX: WDS) share price just capped off a very strong month.

Shares in the S&P/ASX 200 Index (ASX: XJO) energy stock closed out January trading for $25.37. When the closing bell sounded on 27 February, shares were changing hands for $28.31 apiece, up 11.6% for the month.

That's well ahead of the 3.7% gains posted by the ASX 200 in February.

A rising oil price counts among the tailwinds helping boost the Woodside share price.

Brent crude oil was trading for US$66 per barrel at the beginning of February, with the oil price rising more than 9% to US$72 per barrel by the end of the month.

Investor also responded positively to Woodside's full calendar year 2025 results.

a man in a business suit looks at a map of the world above a line up of oil barrels with a red arrow heading upwards above them, indicting rising oil prices.

Image source: Getty Images

Woodside share price lifts on results

The ASX 200 oil and gas giant reported its 2025 earnings results on 24 February.

The Woodside share price closed up 2.4% on the day, with the company exceeding its full year production guidance. 2025 saw Woodside produce 198.8 million barrels of oil equivalent (MMboe). That marked a new record one-year high.

While the oil price has rebounded in 2026 (notably so this week, following the US and Israeli military actions in Iran), 2025 saw Woodside report a 5% year on year decline in its realised prices, sliding to US$60.2 per barrel of oil equivalent.

That led to a 1% decline in full year revenue to$12.98 billion, despite the record production levels.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) of $9.28 billion were in line with 2024, while on the bottom line the company's underlying net profit after tax (NPAT) slipped 8% to $2.65 billion.

Passive income investors may have helped boost the Woodside share price on the day, with management declaring a fully franked final dividend of US 59 cents per share, up 11% from the final Woodside dividend in 2024 (in US dollar terms).

If you're looking to bank that Woodside dividend, you'll need to be fast! The ASX 200 energy stock trades ex-dividend on Thursday. Meaning you'll need to own shares at market close tomorrow, 4 March to receive that payout. You should then receive those dividends on 27 March.

What now?

Looking to what could impact the Woodside share price in the months ahead, the company provided full year 2026 production guidance in the range of 172 MMboe to 186 MMboe. Management expects capital expenditure to be between US$4.0 billion and US$4.5 billion.

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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