Shell (SHEL) said Monday it lowered its Q1 liquefied natural gas production outlook to between 6.4 million and 6.8 million metric tons, down from a previous forecast of 6.6 million to 7.2 million metric tons, due to weather impact and unplanned maintenance, including in Australia.
The company said Q1 upstream production is expected to be 1.79 million to 1.89 million barrels of oil equivalent per day, compared with the previous outlook of 1.75 million to 1.95 million boed.
Additionally, Shell said it expects a $100 million exploration well write-off in Q1.
The company expects to report Q1 results on May 2.
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