Woodside Petroleum (WPL) is one such company who recently reported its production numbers.

WPL’s 1Q10 production declined 7% on-year, but revenue jumped 43% in the same period due to higher oil prices.

WPL attributed the drop in production to the 46 day planned maintenance outage at Stybarrow, the sale of its Otway assets, and a natural decline in oil production.

WPL did report strong LNG production at the North West Shelf Venture, which should account for the natural decline in oil production.

Although it didn’t report any major development at its Pluto LNG project, WPL advised that the project is on track to deliver LNG in early 2011.

WPL also advised that it expects to make an investment decision on Pluto expansion by the end of 2010, subject to exploration success.

WPL did not provide FY guidance, however it has historically delayed providing guidance when releasing production results.

For stock market research, not only would WPL’s recent production numbers be important, but also its guidance as markets are generally forward looking indicators.

Therefore, an astute investor would keep their eye out for when WPL releases its full year guidance before forming an assessment of its outlook.

Share Tips Stock Market Research Woodside Petroleum (WPL) is a post from: Australian Stock Report Share Tips

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