May 6, 2013 / 8:31 PM / 5 years ago

UPDATE 1-Anadarko Petroleum quarterly profit falls, record output

May 6 (Reuters) - 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 trading.

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 per share.

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.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below