Seeking Alpha

Anadarko reports loss as it braces for Tronox payment

Anadarko Petroleum (APC) -0.2% AH after unadjusted earnings swung to a Q4 loss on contingent losses linked to a legal dispute related to the company's 2006 acquisition of Kerr-McGee.

APC believes the costs of claims related to its Kerr-McGee subsidiary - which eventually was spun off into Tronox - could range from $850M-$5.2B, although its reported Q4 loss accounted for a payment of just $850M; a federal judge has ruled APC could be liable for more than $14B.

APC's loss came as it reported a record level of oil and gas sales volumes for 2013, hitting an average of 781K boe/day, up 7% Y/Y, but Q4 revenue from oil and gas slipped to $3.34B from $3.41B a year earlier on softer prices.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs