(Updates with more details, context)
April 21 (Reuters) - Australia's Woodside Energy (WDS) on Friday reported an 8% jump in first-quarter sales revenue, helped by an output boost from the addition of BHP Group's petroleum assets and higher rates for liquefied natural gas.
Even though there was a drop in global oil and gas prices, Australia's top independent gas producer has continued to record strong revenue as most of its LNG sales are tied to oil prices on a three to six month lag and exposure to gas hubs with strong pricing.
Woodside, which became a top 10 global independent oil and gas producer after a
merger
with BHP's petroleum arm last year, recorded output of 46.8 million barrels of oil equivalent (mmboe), compared with 21.1 mmboe, while sales volume rose more than doubled to 50.4 mmboe.
The country's top independent oil and gas explorer said sales revenue for the three months ended March 31 was $4.28 billion, compared with $2.36 billion last year.
Quarterly average realized price for LNG product increased to $16.7 per million British thermal units (mmBtu) in the March quarter, significantly higher than $14.6 per mmBtu last year.
News: BHP UPDATE 1-Woodside Energy's sales revenue soars as BHP's asset addition drives output
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