Anadarko Petroleum: Bringing in the Bills
Anadarko’s stock has been strong so far this year. Looks like things might be getting even better. Most energy companies have felt the crunch from high oil prices and higher priced production. Anadarko, however, is reaping the benefits. Agustino Fontevecchia explains how APC is pulling this off.
" The companyposted adjusted net income of $572 million, more than doubling results from the second quarter of 2010. Diluted EPS came in at $1.08, beating estimates of 95 cents as Anadarko saw sales volumes soar to records highs this quarter.
Revenue hit $3.5 billion, up 46% from the same period a year ago, the company said. Anadarko took its sales of liquids to record highs, with volume reaching 297,000 barrels per day. Sales volume, a consolidated measure of all of Anadarko’s products, totaled 62 million barrels of oil equivalent, 685,000 per day. That translates to about 2.3 billion cubic feet of natural gas per day, 225,000 barrels of oil per day, and 72,000 barrels of natural liquids per day.
Anadarko realized an average petroleum price of $108.99 per barrel in the second quarter, while natural gas prices reached $4.11 per mcf."
For more information: http://turnkeyoil.com/2011/07/26/anadarko-petroleum-bringing-in-the-bills/