UPDATE 1-Anadarko sees 2013 output growth of 5 percent
Feb 20 (Reuters) - Anadarko Petroleum Corp said its 2013 oil and gas production might come in at the low end of forecasts, reflecting an oversupplied natural gas liquids market and weather disruptions.
Anadarko also said it expected to spend $7.2 billion to $7.6 billion in 2013, a similar amount to its capital expenditures last year.
The Houston company's production forecast for growth of 5 percent falls at the low end of its longer-term expectations for annual growth of 5 percent to 7 percent. Some Wall Street analysts also expected growth of 7 percent.
Al Walker, the company's chief executive, told analysts that the production outlook factored in expected high rates of ethane rejection. Hefty supplies of natural gas liquids mean that some producers are keeping ethane in the natural gas stream rather than stripping it out to market as an NGL.
If the ethane market recovers in 2013, Anadarko's production could be higher, Walker said.
Sixty percent of Anadarko's capital spending will go toward oil and gas properties onshore in the United States, the company said ahead of the call with analysts.
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