Anadarko Petroleum Posts Q3 Loss; Updates 2015 Sales-volume Guidance

(RTTNews) - Anadarko Petroleum Corp. (APC) reported a third quarter net loss attributable to common stockholders of $2.235 billion, or $4.41 per share, which 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, on an after-tax basis. Adjusted net loss was $358 million or $0.72 per share, for the quarter.

On average, 32 analysts polled by Thomson Reuters expected the company to report a loss per share of $0.73 for the quarter. Analysts' estimates typically exclude special items.

Anadarko Chairman, President and CEO Al Walker, said: "During the third quarter, we continued our focus on maintaining long-term flexibility, while enhancing short-cycle returns by delivering higher-margin sales volumes for lower costs."

During the third quarter, Anadarko's sales volumes of crude oil, natural gas and natural gas liquids (NGLs) totaled 73 million BOE, or an average of 787,000 BOE per day. These results include an increase in oil sales volumes of 11,000 barrels of oil per day on a divestiture-adjusted basis over the third quarter of 2014.

Natural-gas sales were $484 million, compared to $830 million, prior year. Total revenues were $1.69 billion compared to $5.01 billion. Analysts expected revenue of $2.31 billion for the quarter.

Anadarko also updated its full-year 2015 sales-volume guidance to a range of 290 million to 292 million BOE, which excludes 2015 sales volumes associated with the divestitures of EOR, Bossier and Powder River Basin coalbed methane.