ASX 200 Energy Stocks Woodside and Santos Exhibit Resilience
The US military's capture of Venezuelan President Maduro has the potential to unlock Venezuela's vast oil reserves in the long run but the question is how will this affect ASX energy stocks.
Woodside Energy Group Limited (ASX: WDS)
saw its share price slip 0.9% in the first two days of ASX trading following the U.S. military operation but the stock rebounded by 0.81% gain on Tuesday.
Over the short to medium term, the direct impact of these events on ASX 200 energy stocks such as Woodside is expected to be limited.
On 23 October 2025, the company announced that it had signed and completed a partnership with Williams for the Louisiana LNG project which included the sale of a 10% interest in Louisiana LNG LLC and an 80% interest together with operatorship of the Driftwood Pipeline for US$378 million.
Woodside delivered a solid operational quarter as third quarter production reached 50.8 MMboe which represented a 1% increase quarter-on-quarter.
Total quarterly revenue reached US$3.359 billion while the average realised price improved to US$60 per boe which reflects diversified pricing exposure and continued portfolio optimisation.
Project execution is on track with the Beaumont New Ammonia Project now 97% complete and targeting first ammonia production from late 2025 while the Trion Project is 43% complete and is targeting first oil in 2028.
Santos Limited (ASX: STO)
closed on Tuesday around the same level as prior to the U.S. military operation as analysts agree that it will take several years before Venezuela’s oil production can return to earlier levels or move beyond them.
The company delivered a strong September 2025 quarter as production reached 21.3 mmboe which was achieved despite planned maintenance activities and weather disruptions.
Quarterly sales revenue was $1.1 billion and free cash flow from operations was around $300 million for the quarter.
Santos has entered a catalyst rich phase as the Barossa LNG project moves into production while the Pikka project advances towards first oil.
Santos is well positioned to benefit from a supportive energy market with an improving production profile while continuing to grow earnings.
(Source: Company Reports)
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