Woodside, Santos and Beach Energy Results: Production, Dividends and LNG Projects

Sonal Goyal

22 October 2026 07:00 AM AEDT

Woodside, Santos and Beach Energy Results: Production, Dividends and LNG Projects

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Key highlights

Woodside Energy Group (ASX:WDS) reported half-year 2026 NPAT of US$1.7 billion and a fully franked interim dividend of 57 US cents.
Santos (ASX:STO) reported first-half production of 45.6 mmboe and an unfranked interim dividend of US 11.6 cents.
Beach Energy (ASX:BPT) reported FY26 underlying EBITDA of $1.0 billion and a 2.0 cent final dividend.

Oil and gas producers report results through production, realised prices, costs and capital returns, alongside progress on large development projects. This article reviews the latest results of Woodside Energy Group Ltd (ASX:WDS), Santos Limited (ASX:STO) and Beach Energy Limited (ASX:BPT). Woodside and Santos reported half-year results to 30 June 2026, and Beach reported its full year to the same date.

Sector context

Oil and gas earnings follow commodity prices, production volumes, operating costs and capital spending on projects. The releases refer to LNG sales, domestic gas pricing and development projects in Australia, the United States, Mexico and Papua New Guinea.

Woodside Energy Group Ltd (ASX:WDS)

Woodside released its half-year 2026 results on 25 August 2026. NPAT was US$1.7 billion, up 27%, underlying NPAT was US$1,334 million, up 7%, operating revenue was US$7,446 million and EBITDA was US$4,647 million. The fully franked interim dividend was 57 US cents per share, compared with 53 US cents in the prior period.

Liquidity was US$8,189 million at 30 June 2026. The Scarborough Energy Project was 98% complete, Trion was 64% complete and Louisiana LNG was 28% complete, and the company set 2026 production guidance of 174–185 MMboe.

Santos Limited (ASX:STO)

Santos reported half-year 2026 results on 19 August 2026. Production was 45.6 mmboe, up 3%, sales revenue was US$2.6 billion, EBITDAX was US$1,555 million compared with US$1,758 million and net profit after tax was US$355 million compared with US$439 million. Free cash flow from operations was US$378 million.

The interim dividend was US 11.6 cents per share, unfranked, compared with 13.4 cents. Gearing was 23.2% excluding operating leases, liquidity was US$3.8 billion, and the company reported first oil at Pikka in May 2026, 12 LNG cargoes from Barossa year to date and a Papua LNG final investment decision targeted for Q4 2026.

Beach Energy Limited (ASX:BPT)

Beach reported FY26 results on 6 August 2026. Production was 19.4 MMboe, underlying EBITDA was $1.0 billion and underlying NPAT was $355 million, with sales revenue of $1.8 billion including $343 million from six LNG cargoes. The average realised gas price rose 7% to $11.5 per gigajoule.

The final dividend was 2.0 cents per share, fully franked, for a full-year total of 3.0 cents, liquidity was $983 million and net gearing was 10.6%. 2P reserves were 156 MMboe, compared with 173 MMboe a year earlier, and FY27 plans include Western Flank drilling and an Otway final investment decision target.

The three producers side by side

Woodside reported higher profit and a higher interim dividend, Santos reported lower profit and dividend with higher production, and Beach reported full-year earnings with a smaller reserve base. Woodside and Santos report in US dollars and Beach in Australian dollars, and the first two cover half-years, so their figures are not directly comparable with Beach’s annual figures.

FAQs

Q: What interim dividend did Woodside (ASX:WDS) declare?

A:57 US cents per share, fully franked.

Q: What was Santos’ (ASX:STO) first-half production?

A:45.6 mmboe, up 3%.

Q: What was Beach Energy’s (ASX:BPT) FY26 final dividend?

A:2.0 cents per share, fully franked.

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