May 6 Anadarko Petroleum Corp on Monday
reported quarterly results that topped Wall Street expectations
as the U.S. exploration and production company produced a record
amount of oil and gas.
Shares of Anadarko rose 1 percent to $88.55 in post-market
Anadarko, which has operations in the Gulf of Mexico and the
Eagle Ford Shale in Texas as well as other locations, also
raised the top end of its full-year production forecast.
The Houston company had a first-quarter profit of $460
million, or 91 cents per share, compared with $2.2 billion, or
$4.28 per diluted share, in the same period a year earlier.
Excluding one-time items, Anadarko had a profit of $1.08 per
share. Analysts, on average, had expected a profit of 94 cents
Oil and gas production rose 13 percent to a record 793,000
barrels oil equivalent (boe) per day.
Anadarko expects full-year sales of oil and gas of 279
million to 287 boe, up from a prior forecast for 279 million to
285 million boe.