Higher prices boosted Woodside Petroleum’s first-quarter sales revenue by 4% year-on-year, despite a drop in oil and gas production, the company revealed in its results presentation on Thursday. First-quarter sales revenue rose to $1.22 billion from $1.17 billion in the same period last year, although revenues fell 14% compared to the fourth quarter. Realized prices averaged $56/boe in the first quarter compared to $51/boe a year ago and $59/boe in the previous quarter.
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