July 29, 2014 / 8:25 PM / in 3 years

Anadarko profit drops 76 percent on settlement

July 29 (Reuters) - Anadarko Petroleum Corp on Tuesday posted a 76 percent drop in profit due in part to a $5.15 billion payout to settle environmental pollution charges, though oil and natural gas production rose.

Anadarko, which operates in the United States, Brazil and Algeria, posted net income of $227 million, or 45 cents per share, compared with $929 million, or $1.83 per share, in the year-ago period.

Anadarko’s daily sales volumes of oil and natural gas rose 13 percent to 848,000 barrels of oil equivalent per day.

The company also raised its 2014 sales forecast, expecting to ship at least 2 percent more oil and natural gas. (Reporting by Ernest Scheyder; Editing by Richard Chang)

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