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2017-11-01 13:00:00

ANADARKO NET LOSS $699 MLN

ANADARKO NET LOSS $699 MLN

ANADARKO - Anadarko Petroleum Corporation (NYSE: APC)  announced its third-quarter 2017 results, reporting a net loss attributable to common stockholders of $699 million, or $1.27 per share (diluted). These results include certain items typically excluded by the investment community in published estimates. In total, these items increased the net loss by $272 million, or $0.50 per share (diluted), on an after-tax basis. Net cash provided by operating activities in the third quarter of 2017 was $639 million.

RECENT HIGHLIGHTS

  • Announced a $2.5 billion share-repurchase program and entered into an accelerated share repurchase (ASR) agreement to execute upon the first $1.0 billion by year end
  • Achieved double-digit oil-volume growth over second-quarter 2017 in the Delaware Basin, DJ Basin and deepwater Gulf of Mexico assets
  • Improved oil production mix to 57 percent versus 42 percent in the third quarter of 2016, significantly improving margins per barrel
  • Entered into an agreement to sell the company's Moxa asset in southwest Wyoming for approximately $350 million
  • Received clarity on the Ghana maritime boundary, enabling additional high-margin oil development, and completed the foundational Legal and Contractual Framework for the Mozambique LNG project

"I am very proud of the efforts exhibited by our people and the results achieved in the face of an unusually active hurricane season in the Gulf of Mexico and a continuing volatile commodity environment," said Al Walker, Anadarko Chairman, President and CEO. "We have made significant progress in shifting our production mix toward higher-value oil, which has improved our margins per barrel(2) by about 34 percent year over year. We expect to improve our margins further as we finalize the sale of our Moxa gas asset, continue focusing investments in our high-quality oil plays, and drive greater efficiencies into the system. Although we have adjusted our full-year sales-volume guidance to reflect the impacts of hurricanes Harvey, Irma and Nate, as well as the sale of our Moxa asset, we still expect to exit 2017 with production rates of approximately 150,000 barrels of oil per day combined from the Delaware and DJ basins, and more than 130,000 barrels of oil per day from the deepwater Gulf of Mexico.

"Looking to 2018, we will continue to demonstrate financial discipline as a foundational principle," added Walker. "We will remain focused on returns by continuing to allocate upstream capital toward the higher-margin assets in our portfolio, which should generate substantial free cash flow in a $50 oil-price environment, with total capital spending, including Anadarko midstream spending on infrastructure in the Delaware Basin, inside of discretionary cash flow from operations."

 

Quarter Ended September 30, 2017

 

Before

After

Per Share

$ millions except per-share amounts

Tax

Tax

(diluted)

Net income (loss) attributable to common stockholders (GAAP)

 

(699)

(1.27)

Adjustments for certain items affecting comparability

     

Total gains (losses) on derivatives, net, less net cash from settlement of commodity derivatives*

(98)

(62)

(0.11)

Gains (losses) on divestitures, net

(194)

(123)

(0.23)

Impairments - exploration assets

(106)

(82)

(0.15)

Change in uncertain tax positions

 

(5)

(0.01)

Certain items affecting comparability

(398)

(272)

(0.50)

Adjusted net income (loss) (Non-GAAP)

 

(427)

(0.77)

   

*

Includes $(39) million related to interest-rate derivatives and $(59) million related to commodity derivatives.

-----

Earlier:

ANADARKO BOUGHT MEXICO $2 BLN
2016, September, 13, 14:40:00

ANADARKO BOUGHT MEXICO $2 BLN

We expect these acquired assets to generate substantial free cash flow,(1) enhancing our ability to increase US onshore activity in the Delaware and DJ basins. Our current plans are to add two rigs in each play later this year, and to increase activity further thereafter, with an expectation of more than doubling our production to at least 600,000 BOE per day collectively from these two basins over the next five years.

 
 ANADARKO NET LOSS $1.7 BLN
2016, July, 28, 18:50:00

ANADARKO NET LOSS $1.7 BLN

"Our portfolio continues to perform exceptionally well, and we've continued to significantly reduce our cost structure throughout the year," said Al Walker, Anadarko Chairman, President and CEO.

 

 ANADARKO LOSS $6.7 BLN
2016, February, 2, 19:05:00

ANADARKO LOSS $6.7 BLN

Anadarko Petroleum Corporation (NYSE: APC) today announced 2015 fourth-quarter results, reporting a net loss attributable to common stockholders of $1.250 billion, or $2.45 per share (diluted). These results include certain items typically excluded by the investment community in published estimates. In total, these items increased the net loss by $954 million, or $1.88 per share (diluted), on an after-tax basis. Cash flow from operating activities in the fourth quarter of 2015 was $257 million, and discretionary cash flow totaled $810 million.

 

 ANADARKO PETROLEUM LOSS $2.2 BLN
2015, October, 29, 19:25:00

ANADARKO PETROLEUM LOSS $2.2 BLN

Anadarko Petroleum Corporation (NYSE: APC) today announced its financial and operating results for the third quarter of 2015, including a net loss attributable to common stockholders of $2.235 billion, or $4.41 per share (diluted). These results include certain items typically excluded by the investment community in published estimates, which in aggregate decreased net income by $1.877 billion or $3.69 per share (diluted), on an after-tax basis. Net cash flow from operating activities in the third quarter of 2015 was $1.127 billion, and discretionary cash flow from operations totaled $979 million.

 

 
 
 

 

 

 

 

Tags: ANADARKO

Chronicle:

ANADARKO NET LOSS $699 MLN
2018, August, 17, 11:30:00

U.S. INDUSTRIAL PRODUCTION UP 0.1%

U.S. FRB - Industrial production edged up 0.1 percent in July after rising at an average pace of 0.5 percent over the previous five months. Manufacturing production increased 0.3 percent, the output of utilities moved down 0.5 percent, and, after posting five consecutive months of growth, the index for mining declined 0.3 percent. At 108.0 percent of its 2012 average, total industrial production was 4.2 percent higher in July than it was a year earlier. Capacity utilization for the industrial sector was unchanged in July at 78.1 percent, a rate that is 1.7 percentage points below its long-run (1972–2017) average.

ANADARKO NET LOSS $699 MLN
2018, August, 17, 11:25:00

NORWAY'S PETROLEUM PRODUCTION: 1.911 MBD

NPD - Preliminary production figures for July 2018 show an average daily production of 1 911 000 barrels of oil, NGL and condensate, which is an increase of 64 000 barrels per day compared to June.

ANADARKO NET LOSS $699 MLN
2018, August, 17, 11:20:00

GAZPROM NEFT NET PROFIT UP TO 49.6%

GAZPROM NEFT - For the first six months of 2018 Gazprom Neft achieved revenue** growth of 24.4% year-on-year, at one trillion, 137.7 billion rubles (RUB1,137,700,000,000). The Company achieved a 49.8% year-on-year increase in adjusted EBITDA, to RUB368.2 billion. This performance reflected positive market conditions for oil and oil products, production growth at the Company’s new projects, and effective management initiatives. Net profit attributable to Gazprom Neft PJSC shareholders grew 49.6% year on year, to RUB166.4 billion. Growth in the Company’s operating cash flow, as well as the completion of key infrastructure investments at new upstream projects, delivered positive free cash flow of RUB47.5 billion for 1H 2018.

ANADARKO NET LOSS $699 MLN
2018, August, 15, 11:10:00

OIL PRICE: NEAR $72

REUTERS - Front-month Brent crude oil futures LCOc1 were at $72.34 per barrel at 0648 GMT, down by 12 cents, or 0.2 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 23 cents, or 0.3 percent, at $66.81 per barrel.

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