Woodside Petroelum shares have sunk almost two per cent after the oil and gas giant posted a fall in third-quarter production and revised down the top end of its full-year guidance range.
The company on Thursday narrowed its full-year production guidance to between 84 and 86 million barrels of oil equivalent - from 84 to 90 mmboe - because its second Wheatstone liquefied natural gas (LNG) train is not expected to start up for another six to eight months.
Woodside reported a drop in production to 20.3 mmboe in the three months to September 30, from 25.2 mmboe a year earlier, due to scheduled maintenance and a lower share of pipeline gas from the North West Shelf project.
Total sales revenue also edged lower, down 7.5 per cent to $US914 million ($A1.2 billion) in the quarter, compared to $US988 million in the prior corresponding period.
The third-quarter report triggered a fall in Woodside shares, which were down 59 cents, or 1.98 per cent, to $29.20 at 1103 AEDT on Thursday.
RBC Capital Markets analyst Ben Wilson said Woodside's production modestly missed expectations, while LNG pricing was below forecasts for the North West Shelf and Pluto projects.
Woodside chief executive Peter Coleman said sales revenue for the three months were five per cent higher than the second quarter, mainly driven by increased volumes.
Mr Coleman expects LNG production at Wheatstone will contribute more than 13 mmboe of annual production once its two LNG trains and domestic gas plant are fully operational.
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