WPL reported its 4Q10 production numbers last week. Production fell 3% from the previous quarter, while revenue increased 2% due to higher commodity prices.
For the year, output declined 10% to 72.7 million barrels of oil equivalent (mmboe) which was line with the company’s guidance of 70 – 75 mmboe.
The group attributed the fall in yearly production to the sale of its interest in the Otway Gas Project and oil-field decline.
WPL confirmed the expected start-up date for its Pluto LNG project in August, while its 2011 production guidance was 63 – 66 mmboe, excluding the contribution from Pluto.
WPL declined 0.6% on the day of its production update.