HOUSTON, July 28, 2015
/PRNewswire/ -- Anadarko Petroleum Corporation (NYSE: APC)
today announced its financial and operating results for the second
quarter of 2015, including net income attributable to common
stockholders of $61 million, or $0.12 per share (diluted). These results include
certain items typically excluded by the investment community in
published estimates, which in the aggregate increased net income by
$57 million or $0.11 per share (diluted).(1) Net cash
flow from operating activities in the second quarter of 2015 was
$1.243 billion, and
discretionary cash flow from operations totaled $1.373 billion.(2)
HIGHLIGHTS
- Increased year-over-year oil sales volumes by 42,000 barrels
per day, adjusted for divestitures(3)
- Achieved large-scale project milestones in the Gulf of Mexico and Mozambique
- Announced deepwater exploration success in a frontier basin
offshore Colombia
- Announced more than $1.7 billion
of monetizations year to date
"During the second quarter, we delivered more than 18,000
barrels per day of higher-margin oil sales volumes above our
guidance, driven by continued improvements in productivity and
ongoing operating efficiencies," said Anadarko Chairman, President
and CEO Al Walker. "The operating
improvements achieved to date are contributing to an expected
full-year increase over 2014 of 13 percent, or about 35,000 barrels
of oil per day, enhancing our relative cash margins and enabling us
to drill more than 100 additional wells this year – all while
staying within our capital guidance. In addition, we've created
significant option value through our exploration success offshore
Colombia and in the Gulf of Mexico, and accelerated value through
active portfolio management. We believe these actions and
differentiating achievements, the depth and strength of our
portfolio, and the commitment of our employees, position us well
for continued success."
OPERATIONS SUMMARY
During the second quarter, Anadarko's sales volumes of oil,
natural gas and natural gas liquids (NGLs) totaled 77 million
barrels of oil equivalent (BOE), or an average of 846,000 BOE per
day. The company also updated its full-year 2015 sales-volume
guidance to a range of 298 million to 302 million BOE, which
excludes 2015 sales volumes associated with the divestitures of EOR
and Bossier.
In the U.S. onshore, Anadarko increased oil sales volumes by
approximately 30 percent year over year on a divestiture-adjusted
basis,(3) driven by the Wattenberg field, Eagleford
Shale and Delaware Basin, while
natural-gas sales volumes were lower, reflecting third-party
infrastructure downtime and curtailments, as well as the company's
storage program.
During the quarter, Anadarko achieved a significant production
milestone, averaging 101,000 barrels of oil per day (BOPD) in the
Wattenberg field in Colorado,
while also achieving exceptional efficiency improvements. The
company has realized a significant reduction in drilling cost per
foot over a two-year period and is currently drilling new
Wattenberg horizontal wells for approximately $1 million per well. During the second quarter,
Anadarko also achieved startup at its
300-million-cubic-feet-per-day (MMcf/d) Lancaster II cryogenic
expansion, providing additional growth capacity for the Wattenberg
field.
Anadarko expects to achieve its objective of drilling more than
200 wells in the Eagleford Shale this year with fewer rigs than
initially anticipated. Efficiency gains are enabling Anadarko to
re-allocate rigs from the Eagleford Shale to the Wolfcamp Shale oil
play in the Delaware Basin of
West Texas. During the quarter,
the Delaware Basin increased
year-over-year oil sales volumes by almost 30 percent and achieved
startup at the 200-MMcf/d Mi Vida
cryogenic gas plant.
In the deepwater Gulf of
Mexico, Anadarko's Lucius facility achieved name-plate
capacity of 80,000 BOPD with production stabilizing during the
quarter. The company also continued to advance the 80,000-BOPD
Heidelberg spar on schedule with the successful installation of the
hull and completion of the topsides.
The Mozambique liquefied
natural gas (LNG) project also continues to advance with the
selection of a consortium consisting of CB&I, Chiyoda
Corporation and Saipem (CCS JV) for the initial development of the
onshore LNG park. The scope of the work includes two
6-million-tonnes-per-annum (MMTPA) LNG trains, which is a
20-percent increase in the original capacity expectations with no
change to estimated costs.
Anadarko continues an active deepwater exploration program. The
company's first well, Kronos, in the frontier basin offshore
Colombia, encountered 130 to 230
net feet of natural gas pay in the upper objective, proving the
presence of a working petroleum system and validating the company's
geologic and seismic interpretations. Drilling is ongoing toward
the deeper objective before mobilizing the rig to drill the Calasu
prospect, which is also located in the 4.5-million-acre Grand
Fuerte Block, approximately 100 miles northeast of the Kronos well.
In the Gulf of Mexico, Anadarko
spud its third appraisal well in the Shenandoah field and plans to
commence drilling on an appraisal well to the previously announced
Yeti discovery, which encountered more than 270 net feet of oil
pay.
FINANCIAL SUMMARY
Anadarko ended the second quarter with approximately
$2.2 billion of cash on hand. Year to
date, Anadarko has reached agreements to divest more than
$1.1 billion in assets, including the
recently announced $440 million
divestiture of its Bossier natural gas field and associated
midstream infrastructure. In addition, Anadarko accelerated more
than $575 million of value from the
secondary sale of Western Gas Equity Partners, LP (NYSE: WGP) units
and a WGP-linked tangible equity unit offering.
OPERATIONS REPORT
For details on Anadarko's operating areas and exploration
program, including tables illustrating same-store sales
information,(3) please refer to the comprehensive report
on second-quarter 2015 activity. The report is available at
www.anadarko.com.
CONFERENCE CALL TOMORROW AT 8
A.M. CDT, 9 A.M. EDT
Anadarko will host a conference call on Wednesday, July 29, 2015, at 8 a.m. Central Daylight Time (9 a.m. Eastern
Daylight Time) to discuss second-quarter results, current
operations and the company's outlook for the remainder of 2015. The
dial-in number is 866.777.2509 in the
United States or 412.317.5413 internationally. Participants
can register for the conference at
http://dpregister.com/10068168. For complete instructions on how
to participate in the conference call, or to listen to the live
audio webcast and slide presentation, please visit
www.anadarko.com. A replay of the call will be available on the
website for approximately 30 days following the conference
call.
FINANCIAL DATA
Nine pages of summary financial data follow, including current
hedge positions and updated financial and production guidance.
(1) See the accompanying table for details of certain
items affecting comparability.
(2) See the accompanying table for a reconciliation
of GAAP to non-GAAP financial measures and a statement indicating
why management believes the non-GAAP financial measures provide
useful information for investors.
(3) See the accompanying table for a reconciliation
of "divestiture-adjusted" or "same-store" sales volumes, which are
intended to present performance of Anadarko's continuing asset
base, giving effect to recent divestitures.
Anadarko Petroleum Corporation's mission is to deliver a
competitive and sustainable rate of return to shareholders by
exploring for, acquiring and developing oil and natural gas
resources vital to the world\'s health and welfare. As of year-end
2014, the company had approximately 2.86 billion barrels-equivalent
of proved reserves, making it one of the world's largest
independent exploration and production companies. For more
information about Anadarko and APC Flash Feed updates, please visit
www.anadarko.com.
Logo -
http://photos.prnewswire.com/prnh/20141103/156201LOGO
This news release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Anadarko
believes that its expectations are based on reasonable assumptions.
No assurance, however, can be given that such expectations will
prove to have been correct. A number of factors could cause actual
results to differ materially from the projections, anticipated
results or other expectations expressed in this news release,
including Anadarko's ability to realize its expectations regarding
performance in this challenging economic environment and meet
financial and operating guidance, timely complete and commercially
operate the projects and drilling prospects identified in this news
release, consummate the transaction described in this release,
enter into a definitive agreement with CCS JV, successfully plan,
secure necessary government approvals, finance, build and operate
the necessary infrastructure and LNG park, and achieve production
and budget expectations. See "Risk Factors" in the company's 2014
Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and
other public filings and press releases. Anadarko undertakes no
obligation to publicly update or revise any forward-looking
statements.
ANADARKO CONTACTS
MEDIA:
John
Christiansen, john.christiansen@anadarko.com,
832.636.8736
Stephanie Moreland,
stephanie.moreland@anadarko.com, 832.636.2912
Christina Ramirez,
christina.ramirez@anadarko.com, 832.636.8687
INVESTORS:
John
Colglazier, john.colglazier@anadarko.com, 832.636.2306
Robin Fielder,
robin.fielder@anadarko.com, 832.636.1462
Jeremy Smith,
jeremy.smith@anadarko.com, 832.636.1544
Anadarko Petroleum
Corporation
Certain Items
Affecting Comparability
|
|
|
|
|
|
Quarter Ended
June 30, 2015
|
|
|
Before
|
|
After
|
|
Per
Share
|
millions except
per-share amounts
|
|
Tax
|
|
Tax
|
|
(diluted)
|
Total gains (losses)
on derivatives, net, less net cash from settlement of commodity
derivatives*
|
|
$
|
229
|
|
|
$
|
145
|
|
|
$
|
0.28
|
|
Gains (losses) on
divestitures, net
|
|
(91)
|
|
|
(77)
|
|
|
(0.15)
|
|
Impairments
|
|
(30)
|
|
|
(20)
|
|
|
(0.04)
|
|
Change in uncertain
tax positions (FIN 48)
|
|
—
|
|
|
9
|
|
|
0.02
|
|
|
|
$
|
108
|
|
|
$
|
57
|
|
|
$
|
0.11
|
|
|
*
Includes $(83) million related to commodity derivatives and $312
million related to interest-rate
derivatives.
|
|
|
|
|
|
Quarter Ended
June 30, 2014
|
|
|
Before
|
|
After
|
|
Per
Share
|
millions except
per-share amounts
|
|
Tax
|
|
Tax
|
|
(diluted)
|
Total gains (losses)
on derivatives, net, less net cash from settlement of commodity
derivatives*
|
|
$
|
(237)
|
|
|
$
|
(151)
|
|
|
$
|
(0.30)
|
|
Gains (losses) on
divestitures, net
|
|
9
|
|
|
8
|
|
|
0.02
|
|
Impairments
|
|
(117)
|
|
|
(75)
|
|
|
(0.15)
|
|
Change in uncertain
tax positions (FIN 48)
|
|
—
|
|
|
(115)
|
|
|
(0.23)
|
|
Contingent Clean
Water Act penalty accrual
|
|
(90)
|
|
|
(90)
|
|
|
(0.17)
|
|
Interest expense
related to Tronox settlement
|
|
(19)
|
|
|
(19)
|
|
|
(0.04)
|
|
|
|
$
|
(454)
|
|
|
$
|
(442)
|
|
|
$
|
(0.87)
|
|
|
*
Includes $(76) million related to commodity derivatives, $(159)
million related to interest-rate derivatives, and $(2) million
related to gathering, processing, and marketing sales.
|
Reconciliation of GAAP to Non-GAAP
Measures
Below are reconciliations of net income (loss) attributable to
common stockholders (GAAP) to adjusted net income (loss)
(non-GAAP), cash provided by operating activities (GAAP) to
discretionary cash flow from operations (non-GAAP), as well as free
cash flow (non-GAAP) as required under Regulation G of the
Securities Exchange Act of 1934. Management uses adjusted net
income (loss) to evaluate the Company's operational trends and
performance.
|
Quarter
Ended
|
|
Quarter
Ended
|
|
June 30, 2015
|
|
June 30, 2014
|
|
After
|
|
Per
Share
|
|
After
|
|
Per
Share
|
millions except
per-share amounts
|
Tax
|
|
(diluted)
|
|
Tax
|
|
(diluted)
|
Net income (loss)
attributable to common stockholders
|
$
|
61
|
|
|
$
|
0.12
|
|
|
$
|
227
|
|
|
$
|
0.45
|
|
Less certain items
affecting comparability
|
57
|
|
|
0.11
|
|
|
(442)
|
|
|
(0.87)
|
|
Adjusted net
income (loss)
|
$
|
4
|
|
|
$
|
0.01
|
|
|
$
|
669
|
|
|
$
|
1.32
|
|
Anadarko Petroleum Corporation
Reconciliation of GAAP to Non-GAAP Measures
Management uses discretionary cash flow from operations because
it is useful in comparisons of oil and gas exploration and
production companies as it excludes certain fluctuations in assets
and liabilities and current taxes related to certain items
affecting comparability. Management uses free cash flow to
demonstrate the Company's ability to internally fund capital
expenditures and to service or incur additional debt.
|
Quarter
Ended
|
|
Six Months
Ended
|
|
June 30,
|
|
June 30,
|
millions
|
2015
|
|
2014
|
|
2015
|
|
2014
|
Net cash provided by
(used in) operating activities
|
$
|
1,243
|
|
|
$
|
2,462
|
|
|
$
|
(3,261)
|
|
|
$
|
4,191
|
|
Add back
|
|
|
|
|
|
|
|
Increase (decrease)
in accounts receivable
|
462
|
|
|
(83)
|
|
|
105
|
|
|
183
|
|
(Increase) decrease
in accounts payable and accrued expenses
|
(84)
|
|
|
(84)
|
|
|
199
|
|
|
(21)
|
|
Other
items—net
|
(339)
|
|
|
82
|
|
|
269
|
|
|
27
|
|
Tronox settlement
payment
|
—
|
|
|
—
|
|
|
5,215
|
|
|
—
|
|
Certain nonoperating
and other excluded items
|
3
|
|
|
1
|
|
|
25
|
|
|
1
|
|
Current taxes related
to asset monetizations
|
88
|
|
|
56
|
|
|
316
|
|
|
576
|
|
Discretionary cash
flow from operations
|
$
|
1,373
|
|
|
$
|
2,434
|
|
|
$
|
2,868
|
|
|
$
|
4,957
|
|
|
|
|
|
|
Quarter
Ended
|
|
Six Months
Ended
|
|
June 30,
|
|
June 30,
|
millions
|
2015
|
|
2014
|
|
2015
|
|
2014
|
Discretionary cash
flow from operations
|
$
|
1,373
|
|
|
$
|
2,434
|
|
|
$
|
2,868
|
|
|
$
|
4,957
|
|
Less capital
expenditures*
|
1,401
|
|
|
2,402
|
|
|
3,223
|
|
|
4,970
|
|
Free cash
flow**
|
$
|
(28)
|
|
|
$
|
32
|
|
|
$
|
(355)
|
|
|
$
|
(13)
|
|
|
*
Includes Western Gas Partners, LP (WES) capital expenditures of
$122 million for the quarter ended June 30, 2015, and
$173 million for the quarter ended June 30, 2014, $278
million for the six months ended June 30, 2015, and $343
million for the six months ended
June 30, 2014.
|
|
** Free cash flow for
the six months ended June 30, 2015, includes a
$595 million current tax benefit associated with the Tronox
settlement.
|
Presented below is a reconciliation of total debt (GAAP) to net
debt (non-GAAP). Management uses net debt as a measure of the
Company's outstanding debt obligations that would not be readily
satisfied by its cash and cash equivalents on hand.
|
|
|
June 30, 2015
|
|
|
|
|
|
|
|
Anadarko
|
|
|
|
Anadarko
|
|
WGP*
|
|
excluding
|
millions
|
|
|
Consolidated
|
|
Consolidated
|
|
WGP
|
Total debt
|
|
|
$
|
16,058
|
|
|
$
|
2,677
|
|
|
$
|
13,381
|
|
Less cash and cash
equivalents
|
|
|
2,173
|
|
|
89
|
|
|
2,084
|
|
Net
debt
|
|
|
$
|
13,885
|
|
|
$
|
2,588
|
|
|
$
|
11,297
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Anadarko
|
|
|
|
|
|
Anadarko
|
|
excluding
|
millions
|
|
|
|
|
Consolidated
|
|
WGP
|
Net debt
|
|
|
|
|
$
|
13,885
|
|
|
$
|
11,297
|
|
Total
equity
|
|
|
|
|
19,359
|
|
|
16,389
|
|
Adjusted
capitalization
|
|
|
|
|
$
|
33,244
|
|
|
$
|
27,686
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net debt to
adjusted capitalization ratio
|
|
|
|
|
42
|
%
|
|
|
41
|
%
|
|
*
Western Gas Equity Partners, LP (WGP) is a publicly traded
consolidated subsidiary of Anadarko and WES is a consolidated
subsidiary of WGP.
|
Anadarko Petroleum
Corporation
(Unaudited)
|
|
|
|
|
|
Quarter
Ended
|
|
Six Months
Ended
|
Summary Financial
Information
|
June 30,
|
|
June 30,
|
millions except
per-share amounts
|
2015
|
|
2014
|
|
2015
|
|
2014
|
Consolidated
Statements of Income
|
|
|
|
|
|
|
|
Revenues and
Other
|
|
|
|
|
|
|
|
Natural-gas
sales
|
$
|
487
|
|
|
$
|
991
|
|
|
$
|
1,128
|
|
|
$
|
2,208
|
|
Oil and condensate
sales
|
1,616
|
|
|
2,705
|
|
|
3,035
|
|
|
5,129
|
|
Natural-gas liquids
sales
|
229
|
|
|
411
|
|
|
461
|
|
|
797
|
|
Gathering,
processing, and marketing sales
|
305
|
|
|
278
|
|
|
598
|
|
|
589
|
|
Gains (losses) on
divestitures and other, net
|
(1)
|
|
|
54
|
|
|
(265)
|
|
|
1,560
|
|
Total
|
2,636
|
|
|
4,439
|
|
|
4,957
|
|
|
10,283
|
|
Costs and
Expenses
|
|
|
|
|
|
|
|
Oil and gas
operating
|
226
|
|
|
273
|
|
|
522
|
|
|
586
|
|
Oil and gas
transportation and other
|
289
|
|
|
281
|
|
|
650
|
|
|
547
|
|
Exploration
|
103
|
|
|
502
|
|
|
1,186
|
|
|
801
|
|
Gathering,
processing, and marketing
|
255
|
|
|
250
|
|
|
509
|
|
|
502
|
|
General and
administrative
|
278
|
|
|
305
|
|
|
588
|
|
|
603
|
|
Depreciation,
depletion, and amortization
|
1,214
|
|
|
1,048
|
|
|
2,470
|
|
|
2,172
|
|
Other
taxes
|
151
|
|
|
361
|
|
|
333
|
|
|
675
|
|
Impairments
|
30
|
|
|
117
|
|
|
2,813
|
|
|
120
|
|
Deepwater Horizon
settlement and related costs
|
—
|
|
|
93
|
|
|
4
|
|
|
93
|
|
Total
|
2,546
|
|
|
3,230
|
|
|
9,075
|
|
|
6,099
|
|
Operating Income
(Loss)
|
90
|
|
|
1,209
|
|
|
(4,118)
|
|
|
4,184
|
|
Other (Income)
Expense
|
|
|
|
|
|
|
|
Interest
expense
|
201
|
|
|
186
|
|
|
417
|
|
|
369
|
|
(Gains) losses on
derivatives, net
|
(311)
|
|
|
323
|
|
|
(159)
|
|
|
776
|
|
Other (income)
expense, net
|
15
|
|
|
(13)
|
|
|
62
|
|
|
(12)
|
|
Tronox-related
contingent loss
|
—
|
|
|
19
|
|
|
5
|
|
|
4,319
|
|
Total
|
(95)
|
|
|
515
|
|
|
325
|
|
|
5,452
|
|
Income (Loss)
Before Income Taxes
|
185
|
|
|
694
|
|
|
(4,443)
|
|
|
(1,268)
|
|
Income Tax Expense
(Benefit)
|
77
|
|
|
428
|
|
|
(1,315)
|
|
|
1,092
|
|
Net Income
(Loss)
|
108
|
|
|
266
|
|
|
(3,128)
|
|
|
(2,360)
|
|
Net Income (Loss)
Attributable to Noncontrolling Interests
|
47
|
|
|
39
|
|
|
79
|
|
|
82
|
|
Net Income (Loss)
Attributable to Common Stockholders
|
$
|
61
|
|
|
$
|
227
|
|
|
$
|
(3,207)
|
|
|
$
|
(2,442)
|
|
Per Common
Share
|
|
|
|
|
|
|
|
Net income (loss)
attributable to common stockholders—basic
|
$
|
0.12
|
|
|
$
|
0.45
|
|
|
$
|
(6.32)
|
|
|
$
|
(4.84)
|
|
Net income (loss)
attributable to common stockholders—diluted
|
$
|
0.12
|
|
|
$
|
0.45
|
|
|
$
|
(6.32)
|
|
|
$
|
(4.84)
|
|
Average Number of
Common Shares Outstanding—Basic
|
508
|
|
|
505
|
|
|
507
|
|
|
505
|
|
Average Number of
Common Shares Outstanding—Diluted
|
509
|
|
|
507
|
|
|
507
|
|
|
505
|
|
|
|
|
|
|
|
|
|
Exploration
Expense
|
|
|
|
|
|
|
|
Dry hole
expense
|
$
|
13
|
|
|
$
|
302
|
|
|
$
|
42
|
|
|
$
|
423
|
|
Impairments of
unproved properties
|
18
|
|
|
109
|
|
|
998
|
|
|
186
|
|
Geological and
geophysical expense
|
16
|
|
|
37
|
|
|
38
|
|
|
80
|
|
Exploration overhead
and other
|
56
|
|
|
54
|
|
|
108
|
|
|
112
|
|
Total
|
$
|
103
|
|
|
$
|
502
|
|
|
$
|
1,186
|
|
|
$
|
801
|
|
Anadarko Petroleum
Corporation
(Unaudited)
|
|
|
|
|
|
Quarter
Ended
|
|
Six Months
Ended
|
Summary Financial
Information
|
June 30,
|
|
June 30,
|
millions
|
2015
|
|
2014
|
|
2015
|
|
2014
|
Cash Flows from
Operating Activities
|
|
|
|
|
|
|
|
Net income
(loss)
|
$
|
108
|
|
|
$
|
266
|
|
|
$
|
(3,128)
|
|
|
$
|
(2,360)
|
|
Adjustments to
reconcile net income (loss) to net cash provided by (used in)
operating activities
|
|
|
|
|
|
|
|
Depreciation,
depletion, and amortization
|
1,214
|
|
|
1,048
|
|
|
2,470
|
|
|
2,172
|
|
Deferred income
taxes
|
11
|
|
|
142
|
|
|
(1,187)
|
|
|
188
|
|
Dry hole expense and
impairments of unproved properties
|
31
|
|
|
411
|
|
|
1,040
|
|
|
609
|
|
Impairments
|
30
|
|
|
117
|
|
|
2,813
|
|
|
120
|
|
(Gains) losses on
divestitures, net
|
91
|
|
|
(9)
|
|
|
425
|
|
|
(1,468)
|
|
Total (gains) losses
on derivatives, net
|
(310)
|
|
|
325
|
|
|
(158)
|
|
|
786
|
|
Operating portion of
net cash received (paid) in settlement
of
derivative instruments
|
81
|
|
|
(88)
|
|
|
172
|
|
|
(186)
|
|
Other
|
29
|
|
|
54
|
|
|
74
|
|
|
108
|
|
Changes in assets and
liabilities
|
|
|
|
|
|
|
|
Deepwater Horizon
settlement and related costs
|
(3)
|
|
|
92
|
|
|
1
|
|
|
92
|
|
Tronox-related
contingent liability
|
—
|
|
|
19
|
|
|
(5,210)
|
|
|
4,319
|
|
(Increase) decrease
in accounts receivable
|
(462)
|
|
|
83
|
|
|
(105)
|
|
|
(183)
|
|
Increase (decrease)
in accounts payable and accrued expenses
|
84
|
|
|
84
|
|
|
(199)
|
|
|
21
|
|
Other
items—net
|
339
|
|
|
(82)
|
|
|
(269)
|
|
|
(27)
|
|
Net Cash Provided by
(Used in) Operating Activities
|
$
|
1,243
|
|
|
$
|
2,462
|
|
|
$
|
(3,261)
|
|
|
$
|
4,191
|
|
|
|
|
|
|
|
|
|
Capital
Expenditures
|
$
|
1,401
|
|
|
$
|
2,402
|
|
|
$
|
3,223
|
|
|
$
|
4,970
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30,
|
|
December
31,
|
millions
|
|
|
|
|
2015
|
|
2014
|
Condensed Balance
Sheets
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
|
|
|
$
|
2,173
|
|
|
$
|
7,369
|
|
Accounts receivable,
net of allowance
|
|
|
|
|
2,602
|
|
|
2,527
|
|
Other current
assets
|
|
|
|
|
635
|
|
|
1,325
|
|
Net properties and
equipment
|
|
|
|
|
37,820
|
|
|
41,589
|
|
Other
assets
|
|
|
|
|
2,474
|
|
|
2,310
|
|
Goodwill and other
intangible assets
|
|
|
|
|
6,420
|
|
|
6,569
|
|
Total
Assets
|
|
|
|
|
$
|
52,124
|
|
|
$
|
61,689
|
|
Other current
liabilities
|
|
|
|
|
4,578
|
|
|
4,934
|
|
Deepwater Horizon
settlement and related costs
|
|
|
|
|
91
|
|
|
90
|
|
Tronox-related
contingent liability
|
|
|
|
|
—
|
|
|
5,210
|
|
Long-term
debt
|
|
|
|
|
16,025
|
|
|
15,092
|
|
Deferred income
taxes
|
|
|
|
|
7,594
|
|
|
9,249
|
|
Other long-term
liabilities
|
|
|
|
|
4,477
|
|
|
4,796
|
|
Stockholders'
equity
|
|
|
|
|
16,389
|
|
|
19,725
|
|
Noncontrolling
interests
|
|
|
|
|
2,970
|
|
|
2,593
|
|
Total
Equity
|
|
|
|
|
$
|
19,359
|
|
|
$
|
22,318
|
|
Total Liabilities and
Equity
|
|
|
|
|
$
|
52,124
|
|
|
$
|
61,689
|
|
Capitalization
|
|
|
|
|
|
|
|
Total debt
|
|
|
|
|
$
|
16,058
|
|
|
$
|
15,092
|
|
Total
equity
|
|
|
|
|
19,359
|
|
|
22,318
|
|
Total
|
|
|
|
|
$
|
35,417
|
|
|
$
|
37,410
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capitalization
Ratios
|
|
|
|
|
|
|
|
|
|
|
|
Total debt
|
|
|
|
|
|
45
|
%
|
|
|
40
|
%
|
Total
equity
|
|
|
|
|
|
55
|
%
|
|
|
60
|
%
|
Anadarko Petroleum
Corporation
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales Volumes and
Prices
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Daily Sales
Volumes
|
|
Sales
Volumes
|
|
Average Sales
Price
|
|
|
|
Oil &
|
|
|
|
|
|
Oil &
|
|
|
|
|
|
Oil &
|
|
|
|
Natural
Gas
|
|
Condensate
|
|
NGLs
|
|
Natural
Gas
|
|
Condensate
|
|
NGLs
|
|
Natural
Gas
|
|
Condensate
|
|
NGLs
|
|
MMcf/d
|
|
MBbls/d
|
|
MBbls/d
|
|
Bcf
|
|
MMBbls
|
|
MMBbls
|
|
Per Mcf
|
|
Per Bbl
|
|
Per Bbl
|
Quarter Ended
June 30, 2015
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United
States
|
2,354
|
|
|
240
|
|
|
130
|
|
|
215
|
|
|
21
|
|
|
12
|
|
|
$
|
2.28
|
|
|
$
|
54.14
|
|
|
$
|
17.98
|
|
Algeria
|
—
|
|
|
50
|
|
|
6
|
|
|
—
|
|
|
5
|
|
|
—
|
|
|
—
|
|
|
60.24
|
|
|
31.11
|
|
Other
International
|
—
|
|
|
28
|
|
|
—
|
|
|
—
|
|
|
3
|
|
|
—
|
|
|
—
|
|
|
61.82
|
|
|
—
|
|
Total
|
2,354
|
|
|
318
|
|
|
136
|
|
|
215
|
|
|
29
|
|
|
12
|
|
|
$
|
2.28
|
|
|
$
|
55.78
|
|
|
$
|
18.50
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
June 30, 2014
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United
States
|
2,620
|
|
|
196
|
|
|
119
|
|
|
238
|
|
|
18
|
|
|
11
|
|
|
$
|
4.16
|
|
|
$
|
98.69
|
|
|
$
|
37.39
|
|
Algeria
|
—
|
|
|
72
|
|
|
1
|
|
|
—
|
|
|
7
|
|
|
—
|
|
|
—
|
|
|
108.64
|
|
|
66.69
|
|
Other
International
|
—
|
|
|
23
|
|
|
—
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
—
|
|
|
110.16
|
|
|
—
|
|
Total
|
2,620
|
|
|
291
|
|
|
120
|
|
|
238
|
|
|
27
|
|
|
11
|
|
|
$
|
4.16
|
|
|
$
|
102.04
|
|
|
$
|
37.66
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended
June 30, 2015
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United
States
|
2,545
|
|
|
238
|
|
|
134
|
|
|
461
|
|
|
43
|
|
|
24
|
|
|
$
|
2.45
|
|
|
$
|
49.23
|
|
|
$
|
17.63
|
|
Algeria
|
—
|
|
|
60
|
|
|
6
|
|
|
—
|
|
|
11
|
|
|
1
|
|
|
—
|
|
|
57.80
|
|
|
32.01
|
|
Other
International
|
—
|
|
|
28
|
|
|
—
|
|
|
—
|
|
|
5
|
|
|
—
|
|
|
—
|
|
|
55.69
|
|
|
—
|
|
Total
|
2,545
|
|
|
326
|
|
|
140
|
|
|
461
|
|
|
59
|
|
|
25
|
|
|
$
|
2.45
|
|
|
$
|
51.37
|
|
|
$
|
18.24
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended
June 30, 2014
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United
States
|
2,658
|
|
|
189
|
|
|
109
|
|
|
481
|
|
|
34
|
|
|
20
|
|
|
$
|
4.59
|
|
|
$
|
96.86
|
|
|
$
|
40.08
|
|
Algeria
|
—
|
|
|
65
|
|
|
1
|
|
|
—
|
|
|
12
|
|
|
—
|
|
|
—
|
|
|
108.60
|
|
|
66.69
|
|
Other
International
|
—
|
|
|
27
|
|
|
—
|
|
|
—
|
|
|
5
|
|
|
—
|
|
|
—
|
|
|
109.00
|
|
|
—
|
|
Total
|
2,658
|
|
|
281
|
|
|
110
|
|
|
481
|
|
|
51
|
|
|
20
|
|
|
$
|
4.59
|
|
|
$
|
100.76
|
|
|
$
|
40.22
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Daily Sales
Volumes
MBOE/d
|
|
Sales
Volumes
MMBOE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
June 30, 2015
|
846
|
|
77
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
June 30, 2014
|
848
|
|
77
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended
June 30, 2015
|
890
|
|
161
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended
June 30, 2014
|
834
|
|
151
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales Revenue and
Commodity Derivatives
|
|
|
|
|
|
|
|
|
Sales
|
|
|
Net Cash Received
(Paid) from Settlement of Commodity Derivatives
|
millions
|
Natural
Gas
|
|
Oil &
Condensate
|
|
NGLs
|
|
|
Natural
Gas
|
|
Oil &
Condensate
|
|
NGLs
|
Quarter Ended
June 30, 2015
|
|
|
|
|
|
|
|
|
|
|
|
|
United
States
|
$
|
487
|
|
|
$
|
1,181
|
|
|
$
|
213
|
|
|
|
$
|
77
|
|
|
$
|
3
|
|
|
$
|
2
|
|
Algeria
|
—
|
|
|
277
|
|
|
16
|
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Other
International
|
—
|
|
|
158
|
|
|
—
|
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Total
|
$
|
487
|
|
|
$
|
1,616
|
|
|
$
|
229
|
|
|
|
$
|
77
|
|
|
$
|
3
|
|
|
$
|
2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
June 30, 2014
|
|
|
|
|
|
|
|
|
|
|
|
|
United
States
|
$
|
991
|
|
|
$
|
1,768
|
|
|
$
|
404
|
|
|
|
$
|
(41)
|
|
|
$
|
(44)
|
|
|
$
|
2
|
|
Algeria
|
—
|
|
|
711
|
|
|
7
|
|
|
|
—
|
|
|
(5)
|
|
|
—
|
|
Other
International
|
—
|
|
|
226
|
|
|
—
|
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Total
|
$
|
991
|
|
|
$
|
2,705
|
|
|
$
|
411
|
|
|
|
$
|
(41)
|
|
|
$
|
(49)
|
|
|
$
|
2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended
June 30, 2015
|
|
|
|
|
|
|
|
|
|
|
|
|
United
States
|
$
|
1,128
|
|
|
$
|
2,121
|
|
|
$
|
426
|
|
|
|
$
|
150
|
|
|
$
|
5
|
|
|
$
|
17
|
|
Algeria
|
—
|
|
|
629
|
|
|
35
|
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Other
International
|
—
|
|
|
285
|
|
|
—
|
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Total
|
$
|
1,128
|
|
|
$
|
3,035
|
|
|
$
|
461
|
|
|
|
$
|
150
|
|
|
$
|
5
|
|
|
$
|
17
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended
June 30, 2014
|
|
|
|
|
|
|
|
|
|
|
|
|
United
States
|
$
|
2,208
|
|
|
$
|
3,308
|
|
|
$
|
790
|
|
|
|
$
|
(122)
|
|
|
$
|
(60)
|
|
|
$
|
2
|
|
Algeria
|
—
|
|
|
1,293
|
|
|
7
|
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Other
International
|
—
|
|
|
528
|
|
|
—
|
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Total
|
$
|
2,208
|
|
|
$
|
5,129
|
|
|
$
|
797
|
|
|
|
$
|
(122)
|
|
|
$
|
(60)
|
|
|
$
|
2
|
|
Anadarko Petroleum
Corporation
|
Financial and
Operating External Guidance
|
As of July 28,
2015
|
|
|
|
|
|
Note: Guidance
excludes 2015 sales volumes associated with EOR and
Bossier
|
|
|
|
|
|
|
|
3rd-Qtr
|
|
Full-Year
|
|
|
Guidance (see
Note)
|
|
Guidance (see
Note)
|
|
|
|
|
|
|
|
|
|
|
Units
|
|
Units
|
|
|
|
|
|
|
|
|
|
Total Sales
Volumes (MMBOE)
|
|
71
|
|
—
|
|
73
|
|
|
298
|
|
—
|
|
302
|
|
Total Sales
Volumes (MBOE/d)
|
|
772
|
|
—
|
|
793
|
|
|
816
|
|
—
|
|
827
|
|
|
|
|
|
|
|
|
|
|
Oil
(MBbl/d)
|
|
301
|
|
—
|
|
310
|
|
|
306
|
|
—
|
|
312
|
|
|
|
|
|
|
|
|
|
|
United
States
|
|
216
|
|
—
|
|
220
|
|
|
221
|
|
—
|
|
225
|
|
Algeria
|
|
58
|
|
—
|
|
61
|
|
|
62
|
|
—
|
|
63
|
|
Ghana
|
|
27
|
|
—
|
|
29
|
|
|
23
|
|
—
|
|
24
|
|
|
|
|
|
|
|
|
|
|
Natural Gas
(MMcf/d)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United
States
|
|
2,135
|
|
—
|
|
2,180
|
|
|
2,305
|
|
—
|
|
2,325
|
|
|
|
|
|
|
|
|
|
|
Natural Gas
Liquids (MBbl/d)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United
States
|
|
108
|
|
—
|
|
115
|
|
|
119
|
|
—
|
|
122
|
|
Algeria
|
|
6
|
|
—
|
|
8
|
|
|
5
|
|
—
|
|
6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ /
Unit
|
|
$ /
Unit
|
Price
Differentials vs NYMEX (w/o hedges)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Oil
($/Bbl)
|
|
(3.70)
|
|
—
|
|
1.60
|
|
(3.90)
|
|
—
|
|
1.40
|
|
|
|
|
|
|
|
|
|
|
United
States
|
|
(6.00)
|
|
—
|
|
(1.00)
|
|
|
(6.00)
|
|
—
|
|
(1.00)
|
|
Algeria
|
|
2.00
|
|
—
|
|
8.00
|
|
|
2.00
|
|
—
|
|
8.00
|
|
Ghana
|
|
2.00
|
|
—
|
|
8.00
|
|
|
1.00
|
|
—
|
|
6.00
|
|
|
|
|
|
|
|
|
|
|
Natural Gas
($/Mcf)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United
States
|
|
(0.45)
|
|
—
|
|
(0.35)
|
|
|
(0.45)
|
|
—
|
|
(0.35)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Anadarko Petroleum
Corporation
|
Financial and
Operating External Guidance
|
As of July 28,
2015
|
|
|
|
|
|
Note: Guidance
excludes items affecting comparability
|
|
|
|
|
|
|
|
3rd-Qtr
|
|
Full-Year
|
|
|
Guidance (see
Note)
|
|
Guidance (see
Note)
|
|
|
|
|
|
|
|
|
|
|
|
$
MM
|
|
$
MM
|
Other
Revenues
|
|
|
|
|
|
|
|
|
Marketing and
Gathering Margin
|
|
30
|
|
—
|
|
50
|
|
|
140
|
|
—
|
|
160
|
|
Minerals and
Other
|
|
60
|
|
—
|
|
70
|
|
|
280
|
|
—
|
|
300
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ /
BOE
|
|
$ /
BOE
|
Costs and
Expenses
|
|
|
|
|
|
|
|
|
Oil & Gas Direct
Operating
|
|
3.95
|
|
—
|
|
4.15
|
|
|
3.45
|
|
—
|
|
3.75
|
|
Oil & Gas
Transportation/Other
|
|
3.75
|
|
—
|
|
3.95
|
|
|
3.70
|
|
—
|
|
3.90
|
|
Depreciation,
Depletion, and Amortization
|
|
15.25
|
|
—
|
|
15.75
|
|
|
15.40
|
|
—
|
|
15.70
|
|
Production Taxes (% of
Product Revenue)
|
|
8.0
|
%
|
—
|
|
9.0
|
%
|
|
7.5
|
%
|
—
|
|
8.5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
$
MM
|
|
$
MM
|
|
|
|
|
|
|
|
|
|
General and
Administrative
|
|
330
|
|
—
|
|
350
|
|
|
1,225
|
|
—
|
|
1,275
|
|
Exploration
Expense
|
|
|
|
|
|
|
|
|
Non-Cash
|
|
90
|
|
—
|
|
110
|
|
|
500
|
|
—
|
|
550
|
|
Cash
|
|
115
|
|
—
|
|
135
|
|
|
375
|
|
—
|
|
400
|
|
Interest Expense
(net)
|
|
200
|
|
—
|
|
210
|
|
|
805
|
|
—
|
|
825
|
|
Other (Income)
Expense
|
|
35
|
|
—
|
|
45
|
|
|
175
|
|
—
|
|
225
|
|
|
|
|
|
|
|
|
|
|
Taxes
|
|
|
|
|
|
|
|
|
Algeria (All
current)
|
|
55
|
%
|
—
|
|
60
|
%
|
|
55
|
%
|
—
|
|
60
|
%
|
Rest of Company
(35% Current / 65% Deferred for Q3 and Expect Significant Current
Tax-Benefit for FY)
|
|
35
|
%
|
—
|
|
45
|
%
|
|
25
|
%
|
—
|
|
30
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Avg. Shares
Outstanding (MM)
|
|
|
|
|
|
|
|
|
Basic
|
|
507
|
|
—
|
|
508
|
|
|
507
|
|
—
|
|
509
|
|
Diluted
|
|
508
|
|
—
|
|
510
|
|
|
508
|
|
—
|
|
510
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital Investment
(Excluding Western Gas Partners, LP)
|
$
MM
|
|
$
MM
|
|
|
|
|
|
|
|
|
|
APC Capital
Expenditures
|
|
1,250
|
|
—
|
|
1,450
|
|
|
5,400
|
|
—
|
|
5,700
|
|
|
|
|
|
|
|
|
|
|
Anadarko Petroleum
Corporation
|
Commodity Hedge
Positions
|
As of July 28,
2015
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted Average
Price per barrel
|
|
|
|
Volume
(MBbls/d)
|
|
Floor
Sold
|
|
Floor
Purchased
|
|
Ceiling
Sold
|
Crude
Oil
|
|
|
|
|
|
|
|
|
Three-Way
Collars
|
|
|
|
|
|
|
|
2016
|
|
|
|
|
|
|
|
WTI
|
20
|
$
|
45.00
|
$
|
60.00
|
$
|
67.00
|
Brent
|
8
|
$
|
50.00
|
$
|
65.00
|
$
|
75.00
|
|
|
|
28
|
$
|
46.43
|
$
|
61.43
|
$
|
69.29
|
|
|
|
|
|
|
|
|
|
|
|
Volume
|
|
Weighted Average
Price per MMBtu
|
|
|
|
(thousand
|
|
|
|
|
|
|
|
|
|
MMBtu/d)
|
|
Floor
Sold
|
|
Floor
Purchased
|
|
Ceiling
Sold
|
Natural
Gas
|
|
|
|
|
|
|
|
|
Three-Way
Collars
|
|
|
|
|
|
|
|
2015
|
635
|
$
|
2.75
|
$
|
3.75
|
$
|
4.76
|
|
|
|
|
|
|
|
|
|
|
Extendable Fixed
Price - Financial
|
|
|
|
|
|
|
|
2015*
|
170
|
$
|
4.17
|
|
|
|
|
|
|
* Includes an option
for the counterparty to extend the contract term to December 2016
at the same price.
|
|
|
|
|
|
|
|
|
Interest-Rate
Derivatives
|
As of July 28,
2015
|
|
|
|
|
|
|
|
|
|
Instrument
|
Notional
Amt.
|
Start
Date
|
Maturity
|
Rate
Paid
|
Rate
Received
|
|
|
Swap
|
$50
Million
|
Sept. 2016
|
Sept. 2026
|
5.91%
|
3M LIBOR
|
|
|
Swap
|
$1,850
Million
|
Sept. 2016
|
Sept. 2046
|
6.06%
|
3M LIBOR
|
|
|
|
|
|
|
|
|
|
Anadarko Petroleum
Corporation
Reconciliation of
Same-Store Sales
|
|
Average Daily
Sales Volumes
|
|
Quarter Ended
June 30, 2015
|
|
Quarter Ended
June 30, 2014
|
|
|
|
Oil &
|
|
|
|
|
|
|
|
Oil &
|
|
|
|
|
|
Natural
Gas
|
|
Condensate
|
|
NGLs
|
|
Total
|
|
Natural
Gas
|
|
Condensate
|
|
NGLs
|
|
Total
|
|
MMcf/d
|
|
MBbls/d
|
|
MBbls/d
|
|
MBOE/d
|
|
MMcf/d
|
|
MBbls/d
|
|
MBbls/d
|
|
MBOE/d
|
U.S.
Onshore
|
2,241
|
|
|
174
|
|
|
123
|
|
|
671
|
|
|
2,443
|
|
|
134
|
|
|
113
|
|
|
654
|
|
Deepwater Gulf of
Mexico
|
113
|
|
|
57
|
|
|
7
|
|
|
83
|
|
|
176
|
|
|
41
|
|
|
6
|
|
|
76
|
|
International and
Alaska
|
—
|
|
|
87
|
|
|
6
|
|
|
92
|
|
|
—
|
|
|
101
|
|
|
1
|
|
|
102
|
|
Same-Store
Sales*
|
2,354
|
|
|
318
|
|
|
136
|
|
|
846
|
|
|
2,619
|
|
|
276
|
|
|
120
|
|
|
832
|
|
China,
Pinedale/Jonah, and EOR
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
15
|
|
|
—
|
|
|
16
|
|
Total
|
2,354
|
|
|
318
|
|
|
136
|
|
|
846
|
|
|
2,620
|
|
|
291
|
|
|
120
|
|
|
848
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended
June 30, 2015
|
|
Six Months Ended
June 30, 2014
|
|
|
|
Crude Oil
&
|
|
|
|
|
|
|
|
Crude Oil
&
|
|
|
|
|
|
Natural
Gas
|
|
Condensate
|
|
NGLs
|
|
Total
|
|
Natural
Gas
|
|
Condensate
|
|
NGLs
|
|
Total
|
|
MMcf/d
|
|
MBbls/d
|
|
MBbls/d
|
|
MBOE/d
|
|
MMcf/d
|
|
MBbls/d
|
|
MBbls/d
|
|
MBOE/d
|
U.S.
Onshore
|
2,378
|
|
|
171
|
|
|
127
|
|
|
694
|
|
|
2,420
|
|
|
123
|
|
|
102
|
|
|
628
|
|
Deepwater Gulf of
Mexico
|
167
|
|
|
51
|
|
|
7
|
|
|
86
|
|
|
225
|
|
|
43
|
|
|
6
|
|
|
87
|
|
International and
Alaska
|
—
|
|
|
97
|
|
|
6
|
|
|
103
|
|
|
—
|
|
|
95
|
|
|
1
|
|
|
96
|
|
Same-Store
Sales*
|
2,545
|
|
|
319
|
|
|
140
|
|
|
883
|
|
|
2,645
|
|
|
261
|
|
|
109
|
|
|
811
|
|
China,
Pinedale/Jonah, and EOR
|
—
|
|
|
7
|
|
|
—
|
|
|
7
|
|
|
13
|
|
|
20
|
|
|
1
|
|
|
23
|
|
Total
|
2,545
|
|
|
326
|
|
|
140
|
|
|
890
|
|
|
2,658
|
|
|
281
|
|
|
110
|
|
|
834
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Same-store
sales for the periods ended June 30, 2015 and June 30, 2014,
includes sales volumes related to Bossier as the divestiture was
not announced until July 2015.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Daily
Sales Volumes
|
|
|
|
Year Ended
December 31, 2014
|
|
|
|
|
|
|
|
|
|
|
|
Crude Oil
&
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Natural
Gas
|
|
Condensate
|
|
NGLs
|
|
Total
|
|
|
|
|
|
|
|
|
|
MMcf/d
|
|
MBbls/d
|
|
MBbls/d
|
|
MBOE/d
|
U.S.
Onshore
|
|
|
|
|
|
|
|
|
2,311
|
|
|
136
|
|
|
111
|
|
|
632
|
|
Deepwater Gulf of
Mexico
|
|
|
|
|
|
|
|
|
196
|
|
|
45
|
|
|
5
|
|
|
83
|
|
International and
Alaska
|
|
|
|
|
|
|
|
|
—
|
|
|
94
|
|
|
3
|
|
|
97
|
|
Same-Store
Sales**
|
|
|
|
|
|
|
|
|
2,507
|
|
|
275
|
|
|
119
|
|
|
812
|
|
China,
Pinedale/Jonah, EOR, and Bossier
|
|
|
|
|
|
|
|
|
82
|
|
|
17
|
|
|
—
|
|
|
31
|
|
Total
|
|
|
|
|
|
|
|
|
2,589
|
|
|
292
|
|
|
119
|
|
|
843
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
** Same-store sales
for the year ended December 31, 2014, excludes sales
volumes for the recently announced Bossier divestiture, which is
consistent with the 2015 third-quarter and full-year sales volumes
guidance provided in this release on page 10.
|
PDF -
http://origin-qps.onstreammedia.com/origin/multivu_archive/ENR/247937-2Q15_OpsReport_FINAL.pdf
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/anadarko-announces-second-quarter-2015-results-300120023.html
SOURCE Anadarko Petroleum Corporation