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Tag Archives: Anadarko Petroleum

Anadarko Petroleum reports 1Q loss

Anadarko Petroleum reports 1Q loss

THE WOODLANDS, Texas (AP) — Anadarko Petroleum Corp. (APC) on Monday reported a loss of $1.03 billion in its first quarter. The company, based in The Woodlands, Texas, said it had a loss of $2.03 per share. Losses, adjusted for non-recurring costs and restructuring costs, came to $1.12 per share. The results beat Wall Street expectations. The average estimate of ...

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Anadarko cutting spending almost in half, selling assets

Anadarko cutting spending almost in half, selling assets

TRENTON, N.J. (AP) — Anadarko will sell more assets and reduce by nearly half its spending on oil and natural gas exploration this year. One of the world’s biggest independent oil and natural gas exploration and production companies, Anadarko said Tuesday it will cut capital expenditures this year to between $2.6 billion and $2.8 billion, from about $5.5 billion last ...

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Anadarko Petroleum posts loss as crude prices slump

U.S. oil and natural gas company Anadarko Petroleum Corp reported a quarterly loss that met Wall Street expectations compared with a year-earlier profit as results were hurt by a slump in crude prices. Anadarko, like other oil companies faced with a more than 50-percent decline in crude, is working to improve drilling efficiency and productivity while keeping a close eye ...

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Look out, East Texas, Legacy Reserves is coming for you

oil pump

Legacy Reserves LP has set its sights on East Texas, dropping a total of $440 million on natural gas properties from Anadarko Petroleum and Western Gas Partners LP. The master limited partnership announced Monday that the purchase nabbed it a wealth of assets, including 567 miles of high- pressure pipeline and low-pressure gathering lines as well as 502 million cubic ...

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Anadarko job cuts won’t slam Colorado

Colorado’s workforce may be spared from Anadarko’s rash of job cuts, according to a recent Denver Business Journal article. The company announced Tuesday that it planned to slash its 2015 budget by about 33 percent from last year. Having spent about $8.5 billion in 2014, the projected cut means the company’s 2015 budget will land somewhere between $5.4 and $5.8 billion. ...

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Energy Pipeline: Road Trip! What does a slowdown look like in northeastern Weld County?

All is starting to get quiet on the eastern front of Weld County, but the oil patch is not yet dead amid slowdowns predicted because of crashing oil prices. Companies are tightening their belts and announcing massive reductions in capital spending across their assets in many plays, including the Wattenberg. Anadarko Petroleum, one of the top two drillers in Weld ...

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Anadarko Petroleum cuts 2015 capex by a third

Anadarko Headquarters

Anadarko Petroleum Corp. said it would reduce spending by about 33 percent this year, as the exploration and production company responds to lower crude oil prices. The company forecast capital investments in the range of $5.4 billion-$5.8 billion, excluding investments associated with its Western Gas Partners LP unit. Anadarko’s cut follows similar actions by other U.S. oil and gas producers ...

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Anadarko to slash spending in 2015

Anadarko Headquarters

Anadarko Petroleum, which has offices in both Texas and Colorado, has announced its plans to cut spending in 2015, according to the Houston Business Journal. Anadarko joins a laundry list of companies across the nation that have announced similar cuts for the 2015 fiscal year. The announcement comes a day after the company released its fourth-quarter results in which the ...

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Revamped US oil hedges may test OPEC’s patience

NEW YORK, Jan 5 – As a war of nerves between U.S. shale producers and Gulf powerhouses intensifies, OPEC’s biggest members are counting down the months until their upstart rivals lose the one thing shielding them from crashing oil prices – hedges. They may need much more patience than they reckon, however, because those hedges are a moving target. Rather ...

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Two oil companies to reimburse $5M to Oklahoma

OKLAHOMA CITY — Two oil companies will reimburse the state $5 million total as part of a settlement approved unanimously by Oklahoma Commissioners of the Land Office this week. The Land Office manages mineral rights on more than 1 million acres of state-owned land where an estimated 6,000 oil and gas wells are located, The Oklahoman reported. Most oil companies ...

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