Production

Woodside reserves growth tempered by performance issues at Shenzi

Feb. 15, 2024

Woodside Energy’s remaining proved (1P) reserves last year totaled 2,450.1 MMboe, while the company’s proved plus probable (2P) reserves remaining were 3,757.1 MMboe.

The Shenzi oil and gas field is located about 195 km offshore Louisiana in the Green Canyon area in the Gulf of Mexico.

Offshore staff

PERTH, Australia — Woodside Energy’s remaining proved (1P) reserves last year totaled 2,450.1 MMboe, while the company’s proved plus probable (2P) reserves remaining were 3,757.1 MMboe.

First-time booking of reserves at the deepwater fields Trion in Mexico and Mad Dog Southwest in the US Gulf of Mexico (GoM) raised 1P reserves by 204.1 MMboe and 2P reserves by 300 MMboe.

Revisions of previous estimates and transfers in 2023 also brought a net increase of 61.8 MMboe for 1P reserves and 17.8 MMboe for 2P reserves. This includes improved performance and technical updates at the North West Shelf and Pluto offshore Western Australia.

However, these were offset by reductions of 13.4 MMboe (1P) and 30.2 MMboe (2P) at Shenzi in the GoM, mainly associated with the performance of infill sidetracks and of the Shenzi North development in the Greater Wildling mini-basin following startup.

02.15.2024