Woodside jumps as Q1 update holds 2026 guidance; Scarborough LNG still on track
Woodside Energy ADS (WDS) is rising after its April 29, 2026 first-quarter update reiterated 2026 production guidance of 172–186 MMboe despite cyclone-related disruptions. Investors also reacted to Scarborough LNG being ~96% complete and still targeting first cargo in Q4 2026.
1. What’s moving the stock
Woodside Energy shares are up after the company’s first-quarter 2026 report released April 29, 2026, reassured investors on full-year outlook despite weather-related downtime. The company kept 2026 production guidance unchanged at 172–186 million barrels of oil equivalent, helping offset concerns that cyclone impacts in Western Australia could derail the year’s volume and cash-flow trajectory. (investing.com)
2. Key Q1 takeaways investors are trading
The update flagged lower production from seasonal weather disruptions, but emphasized progress on growth projects, which is central to the market’s near-term re-rating case. Scarborough is reported around 96% complete and continues to target first LNG cargo in the fourth quarter of 2026; Woodside also reiterated longer-dated growth timing such as Trion first oil targeted for 2028. (investing.com)
3. Macro tailwind: energy tape improving
The move is also being amplified by a stronger energy backdrop, with crude prices elevated amid heightened geopolitical risk, which tends to lift sentiment across large-cap LNG and oil producers. With Woodside’s earnings leveraged to realized oil and LNG prices, the market is pairing the reaffirmed guidance with a more constructive commodity setup. (worldbank.org)