Woodside, page-1469

2023-annual-report.pdf (woodside.com)

Commodity price risk management
Woodside hedges to protect the balance sheet against
downside commodity price risk, particularly during periods
of high capital expenditure.
Woodside hedged approximately 22 MMboe of 2023 volumes.
The realised value of these oil price hedges was a pre-tax expense
of approximately $200 million.
As at 31 December 2023, Woodside has placed oil price hedges
for approximately 29 MMboe of 2024 production at an average
price of approximately $76 per barrel.
Woodside has also placed hedges for Corpus Christi LNG
volumes to protect against downside pricing risk. These hedges
are Henry Hub and Title Transfer Facility (TTF) commodity swaps.
An average of 63% of 2024 volumes and 17% of 2025 volumes
have reduced pricing risk as a result of hedging activities.