Energy giant Woodside Petroleum suffered a slide in revenue in the second quarter of the year due to a drop in oil prices and lower production.
The company also expects its half year earnings to include up to $US140 million ($A152.26 million) in writedowns, mostly due to scrapped projects.
Woodside's revenue in the June quarter of $US1.35 billion ($A1.47 billion) was down six per cent from the same period last year, mostly due to the impact of maintenance work on its production ship in the Vincent oil field off the coast of Western Australia.
Production was also lower due to planned maintenance at the company's Pluto liquefied natural gas (LNG) plant in WA and the North West Shelf project.
An unplanned shutdown at the Pluto plant also hit production, the company said in its quarterly production report.
Woodside has already reduced its production target range for the year as a result of the shutdowns.
Morningstar analyst Mark Taylor expects the disruptions to production to deliver an eight per cent hit to Woodside's earnings during the 2013 calendar year.
But Mr Taylor said the production report suggested Woodside had received better than expected gas prices over the quarter.
He said that was good news for investors, who had feared growing US shale oil exports would have impact local energy companies.
"A lot of the issues with gas companies weakening of late has been concern over US shale gas and that it might impact Australian exports into Asia," he said.
"Then they've (Woodside) come out this quarter with fairly healthy gas prices so that is saying that the threat of US gas prices hasn't affected the market as yet."
The average price in the June quarter was $US103.35 a barrel, down from $US108.76 a barrel for the same period in 2012, Woodside said.
Its shares fell in early trade, but recovered to close one cent higher at $37.46.
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