Woodside Energy is one of Australia’s largest independent oil and gas companies, with a strong global presence and a reputation for reliable LNG (liquefied natural gas) production. Headquartered in Perth, Woodside has key projects across the globe and the key growth projects are Scarborough and Louisnana LNG.

In FY25 the company delivered record annual production of ~198.8 million barrels of oil equivalent (MMboe), up slightly from 193.9 MMboe in 2024, laying the foundation for sustained output growth. Its operating revenue for 2025 was ~US$12.98bn, while its net profit after tax was ~US$2.72bn — a year-on-year profit decline largely due to lower realised commodity prices, but still reflective of strong cash generation and operational performance. The company maintained a fully-franked dividend, underscoring its commitment to shareholder returns and capital discipline.

Woodside’s flagship Sangomar oil project in Senegal has been a key contributor to its production growth, while the Scarborough LNG project — nearing completion — promises future volume expansion. The company also continues to progress its Louisiana LNG development, aiming to diversify its export footprint beyond Asia. Revenues and profitability remain sensitive to global oil and gas prices, but disciplined operating costs and high asset reliability support resilience. Woodside’s balance sheet and cash flow strength underpin continued project investment while sustaining dividends.

From an investor perspective, WDS offers exposure to global energy demand and LNG growth, with capacity to benefit from higher prices and volume expansion.

Beach Energy is a mid-tier Australian oil and gas producer focusing on conventional oil, gas and LNG assets primarily in the Otway, Bass and Perth basins. For investors, BPT offers a combination of production growth potential and meaningful dividend returns, albeit with operational and price risk typical in mid-tier energy equities.

In FY25, Beach achieved annual production of ~19.7 MMboe, which marked a notable increase compared with prior years and reflected stronger performance across several fields. Its annual revenue was roughly AU$2.1 billion, underpinned by higher sales volumes and operational gains, and the company delivered underlying net profit after tax of ~AU$451 million — a solid improvement year-on-year. Beach also declared a record fully-franked final dividend of 6.0 cps (total of 9.0 cps for FY25), reinforcing its shareholder return ethos and signalling confidence in cash flows.

Operationally, the successful connection of Thylacine West and progress at Waitsia gas infrastructure were highlights of the year, and the company achieved strong safety performance metrics alongside growth. Beach’s production and revenue profile remains smaller than larger peers, meaning its share price often reflects shifts in commodity prices more directly.

The company has historically navigated project execution challenges — such as delays in Waitsia — but recent achievements have strengthened investor sentiment. While not as diversified or cash generative as larger integrated players, Beach’s improving production and profitability trajectory positions it as a growth-oriented oil & gas exposure on the ASX.

Santos is Australia’s second-largest independent energy producer with diversified oil, gas and LNG interests across Australia, Papua New Guinea, Timor-Leste and the United States. Santos offers a blend of stable production, scale and project upside. The strong free cash flow and commitment to dividends support its long-term investment case, particularly for those seeking diversified energy exposure.

In its FY25 results, Santos reported annual production of ~87.7 MMboe and sales volumes of ~93.5 MMboe, showcasing its base business strength. The company recorded revenue of approximately US$4.9 billion, while underlying net profit after tax was ~US$898 million, and free cash flow generation remained robust at about US$1.8 billion.

Santos maintained a final dividend of 10.3 cps, bringing total shareholder returns to roughly 23.7 cps for the year. Despite weaker commodity prices weighing on profits and revenue, the company’s disciplined low-cost operating model helped preserve earnings and cash flow. Santos stands out with a significant LNG portfolio — including the Barossa and Darwin LNG projects — and the advancing Pikka Phase 1 oil development in Alaska, which is expected to contribute further volumes in 2026.