APC
$68.14
Anadarko Petroleum
($.15)
(.22%)
Earnings Details
3rd Quarter September 2016
Monday, October 31, 2016 4:05:00 PM
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Summary

Anadarko Petroleum Misses

Anadarko Petroleum (APC) reported a 3rd Quarter September 2016 loss of $0.89 per share on revenue of $1.9 billion. The consensus estimate was a loss of $0.57 per share on revenue of $2.2 billion. The Earnings Whisper number was for a loss of $0.55 per share. Revenue grew 12.1% on a year-over-year basis.

Anadarko Petroleum Corp is engaged in the exploration and production of oil and natural gas. The Company’s three operating segments are: Oil and gas exploration and production, Midstream and Marketing.

Results
Reported Earnings
($0.89)
Earnings Whisper
($0.55)
Consensus Estimate
($0.57)
Reported Revenue
$1.89 Bil
Revenue Estimate
$2.21 Bil
Growth
Earnings Growth
Revenue Growth
Power Rating
Grade
Earnings Release

Anadarko Announces Third-Quarter 2016 Results

Anadarko Petroleum Corporation (APC) today announced its financial and operating results for the third quarter of 2016, including a net loss attributable to common stockholders of $830 million, or $1.61 per share (diluted). The net loss includes certain items typically excluded by the investment community in published estimates, which in the aggregate decreased net income by $371 million or $0.72 per share (diluted) on an after-tax basis.(1) Net cash provided by operating activities in the third quarter of 2016 was $785 million.

HIGHLIGHTS

Delivered strong sales volumes with oil volumes exceeding the midpoint of guidance by approximately 13,000 barrels per day

Further reduced costs, with both capital expenditures and lease operating expense (LOE) per barrel of oil equivalent (BOE) favorable to guidance

-- Closed nearly $3 billion of monetizations year to date

Announced $2 billion acquisition of Freeport McMoRan’s deepwater Gulf of Mexico assets

"Anadarko delivered strong operating performance and generated net cash of $785 million during the quarter," said Al Walker, Anadarko Chairman, President and CEO. "We are increasing our 2016 full-year divestiture-adjusted(2) sales-volume guidance by 8 million BOE from the midpoint of our initial expectations and further enhancing our financial position with line of sight to more than $4 billion of monetizations for the year. We have accelerated activity with two additional rigs in both the Delaware Basin and the DJ Basin in conjunction with our $2 billion deepwater Gulf of Mexico property acquisition, which remains on track to close prior to year end. Collectively, these actions and results have streamlined our operations, strengthened our financial position and provide confidence in our ability to deliver a 10- to 12-percent compounded annual oil growth rate over the next five years."

OPERATIONS SUMMARY

Anadarko’s third-quarter sales volumes of natural gas, oil and natural gas liquids (NGLs) totaled 72 million BOE, or an average of 780,000 BOE per day.

In the Delaware Basin of West Texas, Anadarko increased oil sales volumes by approximately 10,000 barrels per day to 27,000 barrels per day, a 60-percent increase relative to the third quarter of 2015 and a 22-percent increase over the second quarter of this year. Anadarko is currently running eight rigs in the basin as it continues to delineate the stacked-pay potential across its 580,000-gross-acre position. In the DJ Basin of northeast Colorado, the company increased sales volumes by 28,000 BOE per day over the third quarter of 2015, averaging 248,000 BOE per day.

In the Gulf of Mexico, the company increased oil sales volumes by 10,000 barrels per day to 65,000 barrels per day, an 18-percent increase over the third quarter of 2015. This increase was primarily driven by the company’s low-cost development activity as it tied back newly completed wells to Lucius, K2 and Caesar/Tonga. The company also announced the acquisition of Freeport McMoRan’s deepwater Gulf of Mexico assets, which will be immediately accretive upon closing. The transaction, which will double both Anadarko’s total Gulf of Mexico production and its working interest in Lucius, is expected to close during the fourth quarter of this year and is subject to customary closing conditions.

Internationally, the TEN complex offshore Ghana achieved first oil on time and on budget and is currently producing approximately 40,000 gross barrels of oil per day as it continues to ramp up toward facility capacity. Additionally, the company conducted a successful drillstem test of its Paon field offshore C?te d’Ivoire as it continues to evaluate the potential commerciality of this discovery.

OPERATIONS REPORT

For details on Anadarko’s operations and exploration program, including detailed tables illustrating divestiture-adjusted(2) information, please refer to the comprehensive report on third-quarter 2016 activity. The report is available at www.anadarko.com.

FINANCIAL SUMMARY

Anadarko ended the third quarter with approximately $4 billion of cash on hand, which was significantly enhanced by the company’s successful $2.16 billion equity offering during the quarter and its successful monetization program year to date. Anadarko plans to use approximately $1.8 billion of its cash on hand to fund the Gulf of Mexico acquisition and plans to redeem its remaining $750 million of senior notes due September 2017. During the third quarter, the company signed an agreement to divest its Carthage assets in East Texas for more than $1 billion, with the transaction expected to close by year end. As a result of these actions taken throughout the year to strengthen the company’s financial position, both Moody’s and S&P recently improved their ratings outlook to "stable."

CONFERENCE CALL TOMORROW AT 8 A.M. CDT, 9 A.M. EDT

Anadarko will host a conference call on Tuesday, Nov. 1, 2016, at 8 a.m. Central Daylight Time (9 a.m. Eastern Daylight Time) to discuss third-quarter results, current operations and the company’s outlook for the remainder of 2016. The dial-in number is 877.883.0383 in the United States or 412.902.6506 internationally. The confirmation number is 8528639. For complete instructions on how to participate in the conference call, or to listen to the live audio webcast and slide presentation, please visit www.anadarko.com. A replay of the call will be available on the website for approximately 30 days following the conference call.

FINANCIAL DATA

Eleven pages of summary financial data follow, including current hedge positions, a reconciliation of "divestiture-adjusted" or "same-store" sales, and updated financial and production guidance.

(1) See the accompanying table for details of certain items affecting comparability. (2) See the accompanying table for a reconciliation of "divestiture-adjusted" or "same-store" sales volumes, which are intended to present performance of Anadarko’s continuing asset base, giving effect to recent divestitures.

Logo - http://photos.prnewswire.com/prnh/20141103/156201LOGO

Anadarko Petroleum Corporation’s mission is to deliver a competitive and sustainable rate of return to shareholders by exploring for, acquiring and developing oil and natural gas resources vital to the world’s health and welfare. As of year-end 2015, the company had approximately 2.06 billion barrels-equivalent of proved reserves, making it one of the world’s largest independent exploration and production companies. For more information about Anadarko and Flash Feed updates, please visit www.anadarko.com.

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Anadarko believes that its expectations are based on reasonable assumptions. No assurance, however, can be given that such expectations will prove to have been correct. A number of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this news release, including Anadarko’s ability to realize its expectations regarding performance in this challenging economic environment and meet financial and operating guidance, consummate the transactions described in this news release and identify and complete additional monetization transactions, reduce its debt, timely complete and commercially operate the projects and drilling prospects identified in this news release, and achieve production expectations on its projects. See "Risk Factors" in the company’s 2015 Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other public filings and press releases. Anadarko undertakes no obligation to publicly update or revise any forward-looking statements.

ANADARKO CONTACTS

MEDIA: John Christiansen, john.christiansen@anadarko.com, 832.636.8736 Stephanie Moreland, stephanie.moreland@anadarko.com, 832.636.2912

INVESTORS: John Colglazier, john.colglazier@anadarko.com, 832.636.2306 Robin Fielder, robin.fielder@anadarko.com, 832.636.1462 Jim Grant, james.grant@anadarko.com, 832.636.8320 Pete Zagrzecki, pete.zagrzecki@anadarko.com, 832.636.7727

Anadarko Petroleum Corporation Reconciliation of GAAP to Non-GAAP Measures

Below are reconciliations of net income (loss) attributable to common stockholders (GAAP) to adjusted net income (loss) (non-GAAP) and total debt (GAAP) to net debt (non-GAAP), each as required under Regulation G of the Securities Exchange Act of 1934. This non-GAAP information should be considered by the reader in addition to, but not instead of, the financial statements prepared in accordance with GAAP. The non-GAAP financial information presented may be determined or calculated differently by other companies and may not be comparable to similarly titled measures.

Management uses adjusted net income (loss) to evaluate operating and financial performance and believes the measure is useful to investors because it eliminates the impact of certain noncash and/or other items that management does not consider to be indicative of the Company’s performance from period to period. Management also believes this non-GAAP measure is useful to investors to evaluate and compare the Company’s operating and financial performance across periods, as well as facilitating comparisons to others in the Company’s industry.

Quarter Ended September 30, 2016
Before
After
Per Share
millions except per-share amounts
Tax
Tax
(diluted)
Net income (loss) attributable to common stockholders
$
(830)
$
(1.61)
Adjustments for certain items affecting comparability
Total gains (losses) on derivatives, net, less net cash from settlement of commodity derivatives*
$
(88)
(56)
(0.11)
Gains (losses) on divestitures, net
(414)
(261)
(0.51)
Impairments - producing properties
(27)
(17)
(0.03)
Restructuring charges
(112)
(71)
(0.14)
Tax indemnification
39
25
0.05
Change in uncertain tax positions (FIN 48)
--
9
0.02
Certain items affecting comparability
$
(602)
(371)
(0.72)
Adjusted net income (loss)
$
(459)
$
(0.89)
*
Includes $(84) million related to interest-rate derivatives and $(4) million related to commodity derivatives.
Quarter Ended September 30, 2015
Before
After
Per Share
millions except per-share amounts
Tax
Tax
(diluted)
Net income (loss) attributable to common stockholders
$
(2,235)
$
(4.41)
Adjustments for certain items affecting comparability
Total gains (losses) on derivatives, net, less net cash from settlement of commodity derivatives*
$
(360)
(227)
(0.45)
Gains (losses) on divestitures, net (after noncontrolling interest)
(613)
(388)
(0.76)
Impairments
Producing properties
(758)
(479)
(0.94)
Exploration assets
(787)
(698)
(1.38)
Inventory adjustments
(33)
(22)
(0.04)
Change in uncertain tax positions (FIN 48)
--
(28)
(0.05)
Other adjustments
(40)
(35)
(0.07)
Certain items affecting comparability
$
(2,591)
(1,877)
(3.69)
Adjusted net income (loss)
$
(358)
$
(0.72)
*
Includes $(407) million related to interest-rate derivatives, $46 million related to commodity derivatives, and $1 million related to gathering, processing, and marketing sales.

Anadarko Petroleum Corporation Reconciliation of GAAP to Non-GAAP Measures

Management uses net debt to determine the Company’s outstanding debt obligations that would not be readily satisfied by its cash and cash equivalents on hand. Management believes that using net debt in the capitalization ratio is useful to investors in determining the Company’s leverage since the Company could choose to use its cash and cash equivalents to retire debt. In addition, management believes that presenting Anadarko’s net debt excluding WGP is useful because WGP is a separate public company with its own capital structure.

September 30, 2016
Anadarko
Anadarko
WGP*
excluding
millions
Consolidated
Consolidated
WGP
Total debt
$
15,878
$
2,935
$
12,943
Less cash and cash equivalents
3,980
146
3,834
Net debt
$
11,898
$
2,789
$
9,109
Anadarko
Anadarko
excluding
millions
Consolidated
WGP
Net debt
$
11,898
$
9,109
Total equity
15,912
12,600
Adjusted capitalization
$
27,810
$
21,709
Net debt to adjusted capitalization ratio
43
%
42
%
*
Western Gas Equity Partners, LP (WGP) is a publicly traded consolidated subsidiary of Anadarko and WES is a consolidated subsidiary of WGP.
Anadarko Petroleum Corporation
Cash Flow Information
(Unaudited)
Quarter Ended
Nine Months Ended
September 30,
September 30,
millions
2016
2015
2016
2015
Cash Flows from Operating Activities
Net income (loss)
$
(747)
$
(2,160)
$
(2,356)
$
(5,288)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Depreciation, depletion, and amortization
1,069
1,111
3,202
3,581
Deferred income taxes
(301)
(1,440)
(1,121)
(2,627)
Dry hole expense and impairments of unproved properties
255
953
300
1,993
Impairments
27
758
61
3,571
(Gains) losses on divestitures, net
414
578
516
1,003
Loss on early extinguishment of debt
--
--
124
--
Total (gains) losses on derivatives, net
24
281
634
123
Operating portion of net cash received (paid) in settlement of derivative instruments
64
79
229
251
Other
53
145
256
219
Changes in assets and liabilities*
(73)
822
32
(4,960)
Net Cash Provided by (Used in) Operating Activities**
$
785
$
1,127
$
1,877
$
(2,134)
Net Cash Provided by (Used in) Investing Activities
$
(291)
$
(911)
$
(1,256)
$
(3,696)
Net Cash Provided by (Used in) Financing Activities
$
2,092
$
(315)
$
2,421
$
534
Capital Expenditures***
$
697
$
1,352
$
2,321
$
4,575
*
The nine months ended September 30, 2015, includes a $5,210 million decrease for the Tronox-related contingent liability.
**
Restructuring charges (excluding stock-based compensation) were $110 million for the quarter ended September 30, 2016, and $334 million for the nine months ended September 30, 2016. Cash payments for restructuring charges were $35 million for the quarter ended September 30, 2016, and $217 million for the nine months ended September 30, 2016.
*** Includes Western Gas Partners, LP (WES) capital expenditures of $95 million for the quarter ended September 30, 2016, and $127 million for the quarter ended September 30, 2015, $355 million for the nine months ended September 30, 2016, and $405 million for the nine months ended September 30, 2015.
Anadarko Petroleum Corporation
(Unaudited)
Quarter Ended
Nine Months Ended
Summary Financial Information
September 30,
September 30,
millions except per-share amounts
2016
2015
2016
2015
Consolidated Statements of Income
Revenues and Other
Oil and condensate sales
$
1,239
$
1,229
$
3,214
$
4,264
Natural-gas sales
435
484
1,121
1,612
Natural-gas liquids sales
227
183
640
644
Gathering, processing, and marketing sales
350
334
895
932
Gains (losses) on divestitures and other, net
(358)
(542)
(388)
(807)
Total
1,893
1,688
5,482
6,645
Costs and Expenses
Oil and gas operating
198
262
608
784
Oil and gas transportation
256
265
744
853
Exploration
304
1,074
506
2,260
Gathering, processing, and marketing
291
289
758
798
General and administrative
362
303
1,116
888
Depreciation, depletion, and amortization
1,069
1,111
3,202
3,581
Other taxes
148
127
422
460
Impairments
27
758
61
3,571
Other operating expense
31
48
54
117
Total
2,686
4,237
7,471
13,312
Operating Income (Loss)
(793)
(2,549)
(1,989)
(6,667)
Other (Income) Expense
Interest expense
220
199
657
616
Loss on early extinguishment of debt
--
--
124
--
(Gains) losses on derivatives, net
25
282
629
123
Other (income) expense, net
(31)
47
(86)
109
Tronox-related contingent loss
--
--
--
5
Total
214
528
1,324
853
Income (Loss) Before Income Taxes
(1,007)
(3,077)
(3,313)
(7,520)
Income tax expense (benefit)
(260)
(917)
(957)
(2,232)
Net Income (Loss)
(747)
(2,160)
(2,356)
(5,288)
Net income (loss) attributable to noncontrolling interests
83
75
200
154
Net Income (Loss) Attributable to Common Stockholders
$
(830)
$
(2,235)
$
(2,556)
$
(5,442)
Per Common Share
Net income (loss) attributable to common stockholders--basic
$
(1.61)
$
(4.41)
$
(5.00)
$
(10.73)
Net income (loss) attributable to common stockholders--diluted $
(1.61)
$
(4.41)
$
(5.00)
$
(10.73)
Average Number of Common Shares Outstanding--Basic
517
508
512
508
Average Number of Common Shares Outstanding--Diluted
517
508
512
508
Exploration Expense
Dry hole expense
$
203
$
817
$
209
$
859
Impairments of unproved properties
52
136
91
1,134
Geological and geophysical expense
12
67
81
105
Exploration overhead and other
37
54
125
162
Total
$
304
$
1,074
$
506
$
2,260
Anadarko Petroleum Corporation
(Unaudited)
September 30,
December 31,
millions
2016
2015
Condensed Balance Sheets
Cash and cash equivalents
$
3,980
$
939
Accounts receivable, net of allowance
1,591
2,469
Other current assets
347
573
Net properties and equipment
31,099
33,751
Other assets
2,203
2,268
Goodwill and other intangible assets
6,197
6,331
Total Assets
$
45,417
$
46,331
Short-term debt
788
32
Other current liabilities
2,974
4,148
Long-term debt
15,090
15,636
Deferred income taxes
4,343
5,400
Other long-term liabilities
6,310
5,658
Stockholders’ equity
12,600
12,819
Noncontrolling interests
3,312
2,638
Total Equity
$
15,912
$
15,457
Total Liabilities and Equity
$
45,417
$
46,331
Capitalization
Total debt
$
15,878
$
15,668
Total equity
15,912
15,457
Total
$
31,790
$
31,125
Capitalization Ratios
Total debt
50
%
50
%
Total equity
50
%
50
%
Anadarko Petroleum Corporation
(Unaudited)
Sales Volumes and Prices
Average Daily Sales Volumes
Sales Volumes
Average Sales Price
Oil &
Oil &
Oil &
Condensate
Natural Gas
NGLs
Condensate
Natural Gas
NGLs
Condensate
Natural Gas
NGLs
MBbls/d
MMcf/d
MBbls/d
MMBbls
Bcf
MMBbls
Per Bbl
Per Mcf
Per Bbl
Quarter Ended September 30, 2016
United States
233
2,003
122
22
184
11
$
41.29
$
2.36
$
18.87
Algeria
65
--
7
7
--
--
45.88
--
23.74
Other International
19
--
--
1
--
--
45.61
--
--
Total
317
2,003
129
30
184
11
$
42.49
$
2.36
$
19.13
Quarter Ended September 30, 2015
United States
224
2,186
117
21
201
11
$
43.48
$
2.41
$
15.83
Algeria
49
--
5
4
--
1
47.86
--
25.18
Other International
28
--
--
3
--
--
46.30
--
--
Total
301
2,186
122
28
201
12
$
44.45
$
2.41
$
16.26
Nine Months Ended September 30, 2016
United States
230
2,164
124
63
593
34
$
36.52
$
1.89
$
17.78
Algeria
63
--
6
18
--
1
42.27
--
23.55
Other International
16
--
--
4
--
--
40.80
--
--
Total
309
2,164
130
85
593
35
$
37.91
$
1.89
$
18.04
Nine Months Ended September 30, 2015
United States
233
2,424
128
64
662
35
$
47.37
$
2.44
$
17.08
Algeria
56
--
6
15
--
2
54.90
--
29.79
Other International
28
--
--
8
--
--
52.58
--
--
Total
317
2,424
134
87
662
37
$
49.16
$
2.44
$
17.63
Average Daily Sales Volumes
Sales Volumes
MBOE/d
MMBOE
Quarter Ended September 30, 2016
780
72
Quarter Ended September 30, 2015
787
73
Nine Months Ended September 30, 2016 800
219
Nine Months Ended September 30, 2015 855
234
Sales Revenue and Commodity Derivatives
Sales
Net Cash Received (Paid) from Settlement of Commodity Derivatives
millions
Oil & Condensate
Natural Gas NGLs
Oil & Condensate
Natural Gas
NGLs
Quarter Ended September 30, 2016
United States
$
884
$
435
$
212
$
66
$
(2)
$
(1)
Algeria
276
--
15
--
--
--
Other International
79
--
--
--
--
--
Total
$
1,239
$
435
$
227
$
66
$
(2)
$
(1)
Quarter Ended September 30, 2015
United States
$
897
$
484
$
170
$
1
$
78
$
--
Algeria
214
--
13
--
--
--
Other International
118
--
--
--
--
--
Total
$
1,229
$
484
$
183
$
1
$
78
$
--
Nine Months Ended September 30, 2016
United States
$
2,305
$
1,121
$
602
$
214
$
13
$
(1)
Algeria
734
--
38
--
--
--
Other International
175
--
--
--
--
--
Total
$
3,214
$
1,121
$
640
$
214
$
13
$
(1)
Nine Months Ended September 30, 2015
United States
$
3,018
$
1,612
$
596
$
6
$
228
$
17
Algeria
843
--
48
--
--
--
Other International
403
--
--
--
--
--
Total
$
4,264
$
1,612
$
644
$
6
$
228
$
17
Anadarko Petroleum Corporation
Financial and Operating External Guidance
As of October 31, 2016
Note: Guidance excludes 2016 sales volumes associated with the East Chalk, Wamsutter, Ozona, Elm Grove, Hugoton, Hearne, and Carthage* divestitures.
4th-Qtr
Full-Year
Guidance (see Note)
Guidance (see Note)
Units
Units
Total Sales Volumes (MMBOE)
64
--
66
262
--
264
Total Sales Volumes (MBOE/d)
696
--
717
716
--
721
Oil (MBbl/d)
307
--
314
304
--
308
United States
223
--
227
225
--
227
Algeria
57
--
59
61
--
62
Ghana
27
--
28
18
--
19
Natural Gas (MMcf/d)
United States
1,685
--
1,725
1,785
--
1,800
Natural Gas Liquids (MBbl/d)
United States
101
--
105
104
--
106
Algeria
6
--
8
5
--
6
$ / Unit
$ / Unit
Price Differentials vs NYMEX (w/o hedges)
Oil ($/Bbl)
(5.20)
--
(1.40)
(5.50)
--
(2.50)
United States
(6.00)
--
(2.00)
(6.00)
--
(3.00)
Algeria
(3.00)
--
--
(4.00)
--
(1.00)
Ghana
(3.00)
--
--
(4.00)
--
(1.00)
Natural Gas ($/Mcf)
United States
(0.45)
--
(0.35)
(0.45)
--
(0.35)
* Pending
Anadarko Petroleum Corporation
Financial and Operating External Guidance
As of October 31, 2016
Note: Guidance excludes items affecting comparability.
4th-Qtr
Full-Year
Guidance (see Note)
Guidance (see Note)
$ MM
$ MM
Other Revenues
Marketing and Gathering Margin
45
--
65
185
--
195
Minerals and Other
35
--
55
170
--
180
$ / BOE
$ / BOE
Costs and Expenses
Oil & Gas Direct Operating
3.60
--
3.90
2.95
--
3.05
Oil & Gas Transportation
3.35
--
3.55
3.35
--
3.45
Depreciation, Depletion, and Amortization
15.25
--
15.75
14.80
--
15.00
Production Taxes (% of Product Revenue)
7.5
%
--
8.5
%
8.0
%
--
9.0
%
$ MM
$ MM
General and Administrative (excludes restructuring charges)
245
--
265
980
--
1,005
Other Operating Expense
20
--
30
75
--
85
Exploration Expense
Non-Cash
165
--
185
450
--
550
Cash
50
--
70
250
--
270
Interest Expense (net)
220
--
235
875
--
890
Other (Income) Expense
--
--
5
--
--
10
Taxes
Algeria
(100% current)
60
%
--
70
%
65
%
--
75
%
Rest of Company
(60% Current/40% Deferred for Q4 and 30% Current/70% Deferred for Total Year)
25
%
--
35
%
25
%
--
35
%
Noncontrolling Interest
65
--
70
265
--
270
Avg. Shares Outstanding (MM)
Basic
550
--
552
521
--
522
Diluted
550
--
552
522
--
523
Capital Investment (Excluding Western Gas Partners, LP)
$ MM
$ MM
APC Capital Expenditures
885
--
985
2,850
--
2,950
Anadarko Petroleum Corporation
Commodity Hedge Positions
As of October 31, 2016
Weighted Average Price per barrel
Volume
Floor Sold
Floor Purchased
Ceiling Sold
(MBbls/d)
Oil
Three-Way Collars
2016
WTI
65
$
41.54
$ 53.08
$ 62.25
Brent
18
$
47.22
$ 59.44
$ 69.47
83
$
42.77
$ 54.46
$ 63.82
Volume
Weighted Average Price per MMBtu
(thousand
MMBtu/d)
Floor Sold
Floor Purchased
Ceiling Sold
Natural Gas
Three-Way Collars
2017
682
$
2.00
$ 2.75
$ 3.60
2018
250
$
2.00
$ 2.75
$ 3.54
Interest-Rate Derivatives
As of October 31, 2016
Instrument Notional Amt. Reference Period
Mandatory
Rate Paid Rate Received
Termination Date
Swap
$500 Million
Sept. 2016 - 2046 Sept. 2018
6.559%
3M LIBOR
Swap
$300 Million
Sept. 2016 - 2046 Sept. 2020
6.509%
3M LIBOR
Swap
$450 Million
Sept. 2017 - 2047 Sept. 2018
6.445%
3M LIBOR
Swap
$100 Million
Sept. 2017 - 2047 Sept. 2020
6.891%
3M LIBOR
Swap
$250 Million
Sept. 2017 - 2047 Sept. 2021
6.570%
3M LIBOR
Anadarko Petroleum Corporation
Reconciliation of Same-Store Sales
Average Daily Sales Volumes
Quarter Ended March 31, 2016
Quarter Ended March 31, 2015
Oil &
Natural Gas
NGLs
Total
Oil &
Natural Gas
NGLs
Total
Condensate
MMcf/d
MBbls/d
MBOE/d
Condensate
MMcf/d
MBbls/d
MBOE/d
MBbls/d
MBbls/d
U.S. Onshore
160
2,017
102
598
164
2,007
117
615
Deepwater Gulf of Mexico 58
85
7
79
46
221
6
89
International and Alaska 93
--
6
99
107
--
7
114
Same-Store Sales
311
2,102
115
776
317
2,228
130
818
Divestitures*
4
201
13
51
18
510
13
116
Total
315
2,303
128
827
335
2,738
143
934
Quarter Ended June 30, 2016
Quarter Ended June 30, 2015
Oil &
Natural Gas
NGLs
Total
Oil &
Natural Gas
NGLs
Total
Condensate
MMcf/d
MBbls/d
MBOE/d
Condensate
MMcf/d
MBbls/d
MBOE/d
MBbls/d
MBbls/d
U.S. Onshore
156
1,925
109
586
170
1,771
110
575
Deepwater Gulf of Mexico 56
73
6
74
57
113
7
83
International and Alaska 81
--
5
86
87
--
6
93
Same-Store Sales
293
1,998
120
746
314
1,884
123
751
Divestitures*
3
190
11
46
4
470
13
95
Total
296
2,188
131
792
318
2,354
136
846
Quarter Ended September 30, 2016
Quarter Ended September 30, 2015
Oil &
Natural Gas
NGLs
Total
Oil &
Natural Gas
NGLs
Total
Condensate
MMcf/d
MBbls/d
MBOE/d
Condensate
MMcf/d
MBbls/d
MBOE/d
MBbls/d
MBbls/d
U.S. Onshore
158
1,824
109
571
155
1,648
96
526
Deepwater Gulf of Mexico 65
77
6
84
55
158
7
88
International and Alaska 93
--
7
100
85
--
5
90
Same-Store Sales
316
1,901
122
755
295
1,806
108
704
Divestitures*
1
102
7
25
6
380
14
83
Total
317
2,003
129
780
301
2,186
122
787
*
Includes East Chalk, Wamsutter, Ozona, Elm Grove, Hugoton, Hearne, Carthage (pending), EOR, Bossier, and Powder River Basin CBM.
Average Daily Sales Volumes
Nine Months Ended September 30, 2016
Nine Months Ended September 30, 2015
Oil &
Natural Gas
NGLs
Total
Oil &
Natural Gas
NGLs
Total
Condensate
MMcf/d
MBbls/d
MBOE/d
Condensate
MMcf/d
MBbls/d
MBOE/d
MBbls/d
MBbls/d
U.S. Onshore
158
1,922
108
587
163
1,807
107
572
Deepwater Gulf of Mexico 59
78
6
78
53
164
7
87
International and Alaska 89
--
6
95
92
--
6
98
Same-Store Sales
306
2,000
120
760
308
1,971
120
757
Divestitures*
3
164
10
40
9
453
14
98
Total
309
2,164
130
800
317
2,424
134
855
Year Ended December 31, 2015
Oil &
Natural Gas
NGLs
Total
Condensate
MMcf/d
MBbls/d
MBOE/d
MBbls/d
U.S. Onshore
163
1,788
105
566
Deepwater Gulf of Mexico
53
152
7
85
International and Alaska
94
--
6
100
Same-Store Sales
310
1,940
118
751
Divestitures*
7
394
12
85
Total
317
2,334
130
836
*
Includes East Chalk, Wamsutter, Ozona, Elm Grove, Hugoton, Hearne, Carthage (pending), EOR, Bossier, and Powder River Basin CBM.

PDF - http://origin-qps.onstreammedia.com/origin/multivu_archive/PRNA/ENR/3Q16-OpsReport-10-31-16.pdf

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/anadarko-announces-third-quarter-2016-results-300354261.html

SOURCE Anadarko Petroleum Corporation

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