Woodside shares continue to fall after quarterly report shows production broadly flat

Woodside shares continued to fall on Tuesday after it released its latest quarterly report which shows production broadly flat and revenue ahead by around two per cent to $3.03 billion. However, shares continue to fall largely because it revealed a $US500 million blowout in the cost of the development of the giant Scarborough gas field – around 400 kilometres offshore from Western Australia’s Pilbara region. Woodside closed down two per cent on Monday and a further 3.74 per cent on Tuesday.