Mon, May 4, 5:59 PM
- Anadarko Petroleum (NYSE:APC) is little changed after-hours after reporting a wider than expected Q1 loss and a 60% Y/Y drop in revenues, hurt by the collapse in energy prices.
- Excluding one-time items - the largest was a $3.7B writedown of the value of the Greater Natural Buttes field in Utah - APC reported a loss of $0.72/share.
- However, APC says it delivered a quarterly record for sales volumes averaging 920K boe/day, a total of ~83M boe, vs. 789K boe/day in the year-ago period, with gains driven mostly by shale wells in the Wattenberg field in Colorado and the Eagle Ford in Texas.
- In the Wattenberg field, APC's sales volume increase totaled more than 85K boe/day Y/Y and more than 20K boe/day Q/Q, while lowering drilling and completion costs to $3.4M from $4M per well; in the Eagle Ford, APC achieved a new gross processed production record of more than 275K boe/day while reducing average drilling costs per well by 14% Q/Q.
- APC's overall operating expense per boe fell 17% in the quarter.
Mon, May 4, 4:15 PM| 3 Comments
Sun, May 3, 5:35 PM
- ADEP, AEGR, AEIS, APC, APU, ATEN, BALT, BBRG, BKH, CAR, CDE, CGNX, CHUY, CKEC, CXO, DENN, DNB, DVA, ECOM, EGOV, ELNK, ENH, EOG, EOX, FBP, FN, FNF, HIL, IDTI, IM, ININ, INN, INVN, IRG, ITRI, KS, LMNX, LSCC, MATX, MCEP, MDU, MERU, MIC, MUSA, NLS, NUVA, ONDK, OTTR, PACD, PLOW, PPS, PQ, PTCT, QLYS, RAIL, RGR, ROSE, RWT, SGY, SHO, SNHY, STAG, THC, TXRH, UGI, VNO, XEC, XPO
Mon, Feb. 2, 5:45 PM
- Anadarko Petroleum (NYSE:APC) -0.9% AH as Q4 earnings and revenues fell short of Wall Street expectations.
- Q4 saw divestiture losses of $192M and impairments of $346M, among other costs that added up to $582M.
- APC improved its average daily crude oil output by 13% to 300K bbl/day in Q4, but the average sales price fell 28% to $71.67/bbl vs. a price of $99.20 in Q4 2013; APC's Q4 sales volumes of natural gas, crude oil and natural gas liquids totaled 79M boe, or an average of 854K boe/day, up 6% Y/Y.
- Estimates proved reserves at year-end 2014 totaled 2.86B boe, with 69% of its reserves categorized as proved developed.
- APC says its Heidelberg project in the Gulf of Mexico and its TEN development off Ghana remains on track for first production in 2016, and its LNG project in Mozambique also is moving forward.
- APC says its biggest production gains came from its Wattenberg field in Colorado, where it “enhanced efficiencies in our drilling and completions and leveraged the competitive advantage of our expensive midstream infrastructure to significantly bolster growth.”
Mon, Feb. 2, 4:16 PM| 1 Comment
Sun, Feb. 1, 5:35 PM
Oct. 28, 2014, 5:46 PM
- Anadarko Petroleum (NYSE:APC) +0.4% AH after Q3 earnings fell short of analyst expectations but revenue rose 30% to $5.01B, as stronger sales volume offset the impact of weaker average selling prices.
- Q3 total sales volume of crude oil, natural gas and natural gas liquids gained 9.5% Y/Y to 849K bbl/day from 775K a year ago.
- APC had sold its China subsidiary along with other assets during Q3, increasing its cash on hand to $8.3B.
- APC raises its full-year sales volume expectations for the third time this year, to a new range of 304M-306M boe, primarily driven by strong results from its Wattenberg horizontal program, where oil volumes doubled from Q3 of last year.
- Separately, P-E firm KKR says it will help APC develop its Eaglebine acreage in south Texas with a non-operated stake in the project; financial terms were not disclosed, but KKR says it expects to participate in 500 wells.
Oct. 28, 2014, 4:14 PM| Comment!
Oct. 27, 2014, 5:35 PM
- AEC, AFG, AFL, AJG, AMCC, AMP, APC, ARI, AZPN, BGFV, BLDP, BOOM, BXP, CAP, CBT, CEB, CHMT, CHRW, CINF, CRAY, DLR, DNB, DYAX, EA, EIX, EPR, EQR, ESRX, EXP, EXTR, FARO, FB, FEIC, FISV, GFIG, GILD, GPRE, HIW, HLIT, HTA, HTS, HURN, INAP, INVN, IPHI, KEYW, KIM, KONA, MAC, MAR, MCK, MRCY, MWA, NANO, NFX, OI, PEI, PLT, PNRA, PSMT, RJET, ROG, RPXC, SKT, SM, SWI, TQNT, TRN, TSS, UDR, ULTI, USNA, VRSK, VRTX, WDC, WES, WGP, WNC, WSH, WTS, WYNN, X, XCO, XOOM, ZLTQ
Jul. 29, 2014, 4:47 PM
- Anadarko Petroleum (NYSE:APC) posts a 76% drop in Q2 earnings due in part to the $5.15B Tronox payout to settle environmental pollution charges, but says sales volumes were above the high end of quarterly guidance at ~77M boe, or 845K boe/day, and raises its FY 2014 sales volume outlook.
- APC says record U.S. onshore sales volumes averaged 667K boe/day, up 21% Y/Y, driven primarily by strong results from APC's Wattenberg field, Eagleford shale and Delaware Basin assets.
- Algerian sales volumes totaled ~73K bbl/day, up 70% Y/Y, driven mostly by El Merk, which recently achieved record daily gross volumes of 150K-plus bbl/day.
- Raises its FY 2014 sales volume guidance to 299M-302M boe from earlier guidance of 293M-298M boe.
- APC +0.4% AH.
Jul. 29, 2014, 4:11 PM| Comment!
Jul. 28, 2014, 5:35 PM
- ACHC, ACMP, AEC, AEGN, AEGR, AFL, AJG, AMCC, AMGN, AMP, APC, APU, ARI, AXP, AXS, BGFV, BLDP, BOOM, BWLD, BXP, CALX, CAP, CBG, CBL, CEB, CEMP, CHMT, CHRW, CINF, CLD, CLMS, CPWR, CRAY, CSLT, CVD, DLR, DOX, DWA, EEFT, EQR, ESRX, EW, EXAM, EZPW, FARO, FBP, FISV, GAS, GNW, GPN, GPRE, HTA, HURN, IGT, INAP, INVN, IPHI, IVR, KIM, LNDC, MAR, MOVE, NATI, NCR, NEM, NEU, NFX, NTRI, NUVA, PEI, PLT, PNRA, QGEN, RBC, RGR, RKT, RNG, RNR, ROG, RPXC, RT, RUBI, SB, SLCA, SM, SQNM, TMH, TRN, TWTR, TX, UGI, ULTI, USNA, VRSK, VRTX, WNC, WSH, WTS, X, XCO, XPO
May 5, 2014, 5:25 PM
- Anadarko Petroleum (APC) +2.3% AH after it swung to a Q1 loss due to a $4.3B contingent loss related to its settlement of litigation involving the 2006 acquisition of Kerr-McGee, but excluding settlement impacts and other items, adjusted earnings rose to $1.26 from $1.08 a year ago, and revenue easily beat expectations in soaring 50% to $5.84B.
- Delivered record daily sales volumes of 819K boe/day, up 3.2% Y/Y, boosted by a ~10K boe jump in output from wells in fields including the Eagle Ford in south Texas and the Wattenberg in Colorado.
- Raises the midpoint of FY 2014 sales-volume guidance by 3.5M boe.
- Says successful appraisal drilling activities in the Orca field increased total estimated recoverable resources in Mozambique's Offshore Area 1 to 50T-70T cf or more of natural gas.
May 5, 2014, 4:13 PM| Comment!
May 4, 2014, 5:35 PM
- AEIS, AIG, APC, APL, ARE, AXLL, BDE, BNFT, CATM, CFN, CKEC, CKP, CRK, DATA, ECOL, ECOM, EGOV, ELNK, ENH, EOG, EOX, FLDM, FN, G, HCLP, HGR, HI, IDTI, ININ, KAR, LF, MCEP, MED, MR, NLS, OAS, OTTR, PIKE, PRI, PSMI, QLYS, RBC, RGR, ROSE, RWT, SALE, SKH, SMG, SNHY, STAG, SZYM, THC, TXRH, UAM, VECO, VNO, VVUS, WG, YY, ZIPR.
Feb. 3, 2014, 5:59 PM
- 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.
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