Anadarko Petroleum Lifts Q4 Sales Volume Guidance - Quick Facts

(RTTNews) - Anadarko Petroleum Corp. (APC) has raised its fourth-quarter sales volume guidance and announced extensions to the maturity dates of its credit facilities.

The company noted that operationally, its performance continued to exceed expectations across the portfolio. As a result, the company raised the midpoint of its fourth-quarter oil sales-volume guidance by more than 15,000 barrels of oil per day or BOPD to a range of 314,000 to 319,000 BOPD.

This outperformance is the primary contributor to a 2-million barrels of oil equivalent or BOE increase in the company's total fourth-quarter sales-volume guidance, resulting in a new range of 70 to 72 million BOE.

Anadarko also said it has extended the maturity of its $3 billion unsecured revolving credit facility to January 2021 and received commitments to renew its $2 billion 364-day credit facility upon its expiration in January 2016, to a new maturity in 2017, further supporting its strong liquidity position. The company achieved these extensions with no changes to covenants or pricing and with 100-percent participation from the company's bank group.

Further, Anadarko said it continues to make significant progress at its Heidelberg development in the Gulf of Mexico, which is well ahead of schedule and is now expected to achieve first oil in the first quarter of 2016 from the three initial wells, pending regulatory approvals.