ASX energy stocks in focus currently

WDS, STO and NHC reported strong operating results, improving production, healthy cash generation and positive business progress.

Woodside Energy Group Limited (ASX: WDS)

on 29 April 2026, shared its First Quarter Report for the dated ended 31 March 2026. Quarterly production was 45.2 MMboe (502 Mboe/d), 8% lower than the previous quarter due to seasonal weather impacts. Average realised pricing increased 11% to $63/boe. Sangomar, Shenzi, North West Shelf Project and Pluto LNG recorded reliability levels of 99% or higher.

The Scarborough Energy Project reached 96% completion and remains on the budget with first LNG cargo expected in Q4 2026. The Scarborough FPU completed hook-up and began topside commissioning. Beaumont New Ammonia achieved its first ammonia cargo in February whereas the Trion Project advanced to 56% completion and continues to target first oil in 2028. Louisiana LNG was 24% complete with Train 1 at 31%, and remains on schedule for first LNG in 2029.

Operations in Western Australia were safely restored after Severe Tropical Cyclones Mitchell and Narelle. LNG demand for spot cargoes remained strong, around 51% of LNG sales were linked to gas hub indices and higher crude prices supported market conditions. Additional pipeline gas sales were secured for Western Australia and Australia’s East Coast market across 2026–2028.

Santos Limited (ASX: STO)

on 18 May 2026, announced first oil from the Pikka Phase 1 development in Alaska. The oil began flowing into the sales pipeline as part of the start-up process. Production is likely to rise to 20,000 barrels per day over the following weeks before reaching a planned plateau of 80,000 barrels per day during the third quarter of 2026. At first oil, 28 development wells had been drilled with 21 already stimulated and flowed back.

On 26 May 2026, Santos outlined its strategy at Investor Briefing Day. Barossa was operating at 75% of planned 2026 production rates, while Pikka continued final commissioning ahead of continuous production. Both projects are expected to operate with low unit production costs.
The company plans to return at least 60% of free cash flow to shareholders and target net debt reduction of about $2.5 billion by 2030.

The investment will focus on Alaska, Papua New Guinea, Beetaloo and Bedout, while spending in parts of the Cooper Basin will be reduced to lower future capital costs.

New Hope Corporation Limited (ASX: NHC)

on 18 May 2026, shared strong quarterly results for the dated ended 30 April 2026. Group ROM coal production increased 5.0% to 4.3Mt whereas coal sales rose 10.4% to 3.2Mt. The average realised coal price was $140.7/t, underlying EBITDA reached $130.1M and available cash at $571.6 million.
Bengalla Mine delivered better performance with coal produced at 2.6Mt and coal sold at 2.2Mt. The improved mining environment along with increased sales volumes, contributed to reduced cash costs of $74.0/t.

At New Acland Mine, coal sales totalled 1.0Mt during the quarter. Development activities including public road realignment works, continued in line with planned schedules and budgets.
On 14 April 2026, Malabar Resources achieved first coal from its Longwall operation and commissioned a 10km overland conveyor while continuing to receive premium pricing for coal sold into the Japanese market.

(Source: Company Report)