Woodside Energy Group Ltd (WDS) shares surged 5.01% in the pre-market session on Wednesday, following the release of robust second-quarter financial and operational results.

The company reported Q2 operating revenue of $4.19 billion, a significant increase from $3.28 billion in the prior-year period, and well above analyst expectations of $3.50 billion. This strong performance was underpinned by a 35% quarter-on-quarter increase in average realized prices to $85 per barrel of oil equivalent, driven by higher global LNG and crude oil prices.

Additionally, Woodside narrowed its 2026 full-year production guidance to 174-185 million barrels of oil equivalent, citing sustained production performance and asset reliability. The company also noted that its major growth projects, including the Scarborough Energy Project, remain on budget and on track for first LNG cargo in the fourth quarter of 2026.