Anadarko Reports Depressed 1Q’16 Earnings As The Commodity Downturn Persists

-14.52%
Downside
72.77
Market
62.20
Trefis
APC: Anadarko Petroleum logo
APC
Anadarko Petroleum

APC-Q&A-1Q16-2

Key Highlights of the 1Q’16:

  • Anadarko closed monetizations totaling $1.3 billion and are advancing towards another $700 million in divestitures.
  • The company issued $3 billion new investment grade bonds to refinance debt in 2016 and 2017.
  • It has reduced its dividend and has restructured its workforce, which will provide additional cash of $800 million on an annualized basis.
  • Anadarko has increased the net resource estimate in the Delaware Basin to more than 2 billion BOE. The company will continue to focus its 2016 onshore capital spending in the Delaware and DJ Basin.
  • Operationally, the company achieved the first oil at the Heidelberg development in the deepwater Gulf of Mexico. In addition, Anadarko successfully drilled its first horizontal deepwater well offshore Côte d’Ivoire.

Have more questions about Anadarko Petroleum (NYSE:APC)? See the links below:

Relevant Articles
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  4. Higher Oil Output And Improved Commodity Prices Will Drive Anadarko’s 3Q’18 Results
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  6. Key Takeaways From Anadarko’s Second Quarter Results

Notes:

1) The purpose of these analyses is to help readers focus on a few important things. We hope such lean communication sparks thinking, and encourages readers to comment and ask questions on the comment section, or email content@trefis.com

2) Figures mentioned are approximate values to help our readers remember the key concepts more intuitively. For precise figures, please refer to our complete analysis for Anadarko Petroleum

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