Anadarko Petroleum Eyes 2018 Sales Rise
Anadarko Petroleum Corp on Thursday forecast an 11 percent rise in sales volumes for 2018, as shale producers boost oil output aggressively, taking advantage of recovering oil prices. The Woodlands, Texas-based oil and gas producer said it expects to sell 245-255 million barrels of oil equivalent (MMBOE) in 2018, higher than the 224-228 MMBOE it forecast for 2017. The company expects to spend $4.2 billion to $4.6 billion in 2018, with about 80 percent for the Delaware and DJ basins, including its midstream and deepwater assets in the Gulf of Mexico.
Anadarko Posts Quarterly Loss, Expects to Slash Capex 50%
Anadarko Petroleum Corp on Monday reported a larger quarterly loss as low crude prices took a toll and the U.S. oil company said it expects to slash capital spending about 50 percent this year to conserve cash. Anadarko, based in Houston, reported a net loss of $1.25 billion, or $2.45 per share, compared with a loss of $395 million, or 78 cents per share, in the year-ago quarter. Anadarko said it has set an initial budget for 2016 of $2.8 billion. (Reporting by Anna Driver; Editing by Meredith Mazzilli)
Anadarko To Monetize up to $3 bln of Assets
Anadarko Petroleum Corp said it plans to monetize up to $3 billion of assets this year amid a slump in crude oil prices. The U.S. oil company has already closed or signed agreements to monetize about $1.3 billion of assets this year, it said last week. Anadarko also said on Tuesday that it expected 2016 capital expenditures to range between $2.6 billion and $2.8 billion, compared with its previous estimate of $2.8 billion. (Reporting by Arathy S Nair in Bengaluru)
Anadarko Petroleum to Slash 1,000 jobs
Oil and gas producer Anadarko Petroleum Corp plans to cut about 1,000 jobs, a company spokesman told Reuters. The job cuts will be substantially implemented by the end of this month, the company said in a regulatory filing earlier on Friday. Anadarko said the job cuts would cost about $380 million, pre-tax. The company had about 5,800 employees as of Dec. 31, according to its latest filing. (Reporting by Vishaka George in Bengaluru; Editing by Sriraj Kalluvila)
Anadarko Petroleum Raises Q4 Volume Outlook
U.S. oil and natural gas company Anadarko Petroleum Corp raised the midpoint of its current quarter forecast for oil sales volume by more than 15,000 barrels of oil per day. Production increases relative to guidance are driven by the core oil-producing areas in the Wattenberg field and the Delaware Basin, Anadarko said on Thursday. Reporting by Sneha Banerjee
Anadarko Petroleum Cuts 2015 Capex by a Third
Anadarko Petroleum Corp said it would reduce spending by about a third to $5.4 billion-$5.8 billion in 2015, in response to lower oil prices. The Texas-based producer spent about $9.3 billion last year. Anadarko also said it plans to cut U.S. onshore rig activity by 40 percent and defer about 125 onshore well completions. Reporting By Shubhankar Chakravorty in Bengaluru
Anadarko Reports Wider First Quarter Loss
Anadarko Petroleum Co on Monday reported a wider quarterly loss as a crude price collapse hurt the U.S. independent oil and natural gas company's results Anadarko had a first-quarter loss of $3.3 billion, or $6.45 per share, compared with $2.7 billion, or $5.30 per share in the same period a year earlier. Oil and gas output, adjusting for divestitures, was 920,000 barrels of oil equivalent per day (boed). That compares with 789,000 boed in the year-ago period. (Reporting by Anna Driver; Editing by Chris Reese)
Anadarko Finalizes Tronox Settlement
Anadarko Petroleum Corp said in a regulatory filing on Friday that it has finalized its $5 billion settlement with Tronox Ltd, ending a long-running legal saga related to environmental clean-up costs. The agreement was originally struck in April, according to the filing with the U.S. Securities and Exchange Commission. The agreement resolves a long-running lawsuit against the Kerr-McGee energy and chemical company, which Anadarko bought in 2006. The case was brought by a trust representing the U.S. government, 11 state governments, Indian tribes and individuals.
Anadarko to Buy Freeport's U.S. Gulf Assets
Anadarko Petroleum Corp said it agreed to buy deepwater Gulf of Mexico assets of Freeport McMoRan Inc's oil and gas unit for $2 billion. The deal, effective Aug. 1, adds about 80,000 net barrels of oil equivalent per day to Anadarko's sales-volume outlook. (Reporting by Rachit Vats in Bengaluru; Editing by Anil D'Silva)
Anadarko Expects 2017 Oil Sales Volumes to Rise by 25%
Anadarko Petroleum Corp on Tuesday said it expects a 25 percent increase in its oil sales volumes this year, compared to 2016. The company also forecast its initial capital budget for 2017 to be between $4.5 billion to $4.7 billion, compared with $3.31 billion in 2016. Houston-based Anadarko, which sold 287,000 barrels of oil per day (bopd) in 2016, expects to sell between 357,000 to 362,000 bopd in 2017. (Reporting by Vishaka George in Bengaluru)
Anadarko Petroleum's Loss Narrows without Impairment Charge
Anadarko Petroleum Corp said on Monday its quarterly loss narrowed due to the absence of a year-ago impairment charge, though low oil prices still dented revenue. The company posted a net loss of $1.03 billion, or $2.03 per share, compared with a net loss of $3.27 billion, or $6.45 per share, in the year-ago period. The company posted a $2.78 billion impairment charge in the year-ago period. Total quarterly revenue fell 28 percent to $1.67 billion. (Reporting by Ernest Scheyder; Editing by Tom Brown)
Anadarko Quarterly Loss Shrinks; Capex Slashed for 2017
U.S. oil producer Anadarko Petroleum Corp on Monday said its quarterly loss shrank and that it would cut its 2017 capital budget by $300 million because of depressed oil prices. The company posted a loss of $415 million, or 76 cents per share, compared to $692 million, or $1.36 per share, in the year-ago period. Average daily sales volumes, the physical amount of crude and natural gas sold, fell 20 percent to 631,000 barrels of oil equivalent per day. (Reporting by Ernest Scheyder; editing by Grant McCool)
Anadarko Profits up on Asset Sales, Higher Output
U.S. independent oil and gas company Anadarko Petroleum Corp reported a sharply higher quarterly profit on Tuesday that was lifted by higher output and asset sale proceeds. Third-quarter profit for the Houston company was $1.09 billion, or $2.12 per share, compared with $182 million, or 36 cents per share, in the same period a year earlier. Oil and gas production rose to 849,000 barrels oil equivalent per day (boed), up from 775,000 last year. (Reporting by Anna Driver; Editing by Richard Chang)
Anadarko Payment will Cover Environmental Costs
Anadarko Petroleum Corp's $5.15 billion settlement with the U.S. government will more than cover the past environmental damage caused by its Kerr-McGee unit, U.S. Deputy Attorney General James Cole said on Thursday. At a news conference, Cole, the No. 2 Justice Department official, said that the amount of the settlement was in line with a bankruptcy court ruling about liability. "It provides us with recovery now, as opposed to years and years down the road," Cole said.
U.S. Supreme Court Rejects BP, Anadarko Over Deepwater Horizon Spill Penalties
The U.S. Supreme Court on Monday rejected bids by BP Plc and Anadarko Petroleum Corp to avoid penalties under federal pollution law in connection with the 2010 Gulf of Mexico oil spill. The high court left in place a June 2014 ruling by the New Orleans-based 5th U.S. Circuit Court of Appeals, which said the companies were liable for civil penalties under the federal Clean Water Act. (Reporting by Lawrence Hurley)
Explosion Hits Anadarko Gas Plant in Texas, Two Injured
An explosion and fire rocked the Ramsey natural gas plant in West Texas on Thursday, injuring at least two people and prompting evacuations, according to a company official and media reports. Natural gas feeds were shut off at the facility in Orla, Texas, owned by Western Gas Partners LP, a unit of Anadarko Petroleum Corp. (Reporting By Anna Driver and Terry Wade)
Anadarko Slashes Quarterly Dividend
Oil and gas company Anadarko Petroleum Corp said it slashed its quarterly dividend by 22 cents to 5 cents per share. The dividend cut would save about $450 million in cash annually, the company said. (Reporting by Manish Parashar in Bengaluru; Editing by Anil D'Silva)
Anadarko Names Executive VP, Global LNG
Mitchell W. Ingram has been selected by the board of directors of Anadarko Petroleum Corporation to fill the newly created position of Executive Vice President, Global LNG. Ingram joins Anadarko's Executive Committee effective immediately, reporting to Anadarko Chairman, President and CEO Al Walker. Ingram has 28 years of experience in the oil and natural gas industry. Since 2006, Ingram has been with BG Group, where he served as a member of the company's Executive Committee in the role of Executive Vice President – Technical.
Anadarko Raises Dividend by 50%
Anadarko Petroleum Corp boosted its quarterly dividend by 50 percent on Tuesday, its second increase in less than a year. The oil and natural gas producer will pay a dividend of 27 cents on June 25 to shareholders of record by June 11. Anadarko previously increased its dividend last August. Shares of Anadarko rose 0.6 percent to $101.45 in after-hours trading. As of Tuesday's close, the stock has gained 27 percent so far this year. (Reporting by Ernest Scheyder; Editing by Steve OLrflofsky)
Anadarko Spending Plan Set for March as Company Eyes Prices
U.S. oil and gas company Anadarko Petroleum Corp will continue to monitor crude prices for several months before its 2015 spending plans are announced in March, the company's CEO said on Wednesday. Oil prices have crashed in recent months, hit hard by slowing global demand and swelling supplies. Earlier this week, U.S. crude oil dropped to the lowest level in more than two years, below $80 per barrel. "We want to watch this environment that we are in a little longer," said Al Walker, Anadarko's chief executive officer.