Anadarko Petroleum Ticks Higher on Q3 Earnings Release

Shares of Anadarko Petroleum APC are trading higher in the after-hours following the release of the company's Q3 earnings results. Currently, shares are higher by 0.71%, trading at $79.06; they ended the regular session lower by 6.26%, at $78.50. Anadarko Petroleum reported Q3 adjusted EPS of $0.66 on revenues of $3.2 billion; GAAP loss totaled $6.12 per share. Free cash flow generation totaled $576 million. "Our third-quarter operating activities generated very strong free cash flow, reflecting our focus on increasing higher-margin liquids sales volumes," Anadarko Chairman and CEO Jim Hackett said. "Overall, liquids sales volumes grew by approximately 10 percent compared to the third quarter of last year, with onshore U.S. oil sales volumes increasing by about 30 percent over the same time period. The growth in liquids sales volumes was complemented by strong netback pricing, as about 70 percent of our total liquids sales volumes are based on Brent-equivalent indices, achieving a $10 per-barrel premium over WTI pricing. Moreover, price realizations for our NGL sales volumes were 62 percent of WTI oil pricing, compared to 50 percent in the third quarter of last year” Anadarko Petroleum Corporation is an independent oil and natural gas exploration and production company. As of December 31, 2010, it had 2.4 billion barrels of oil equivalent of proved reserves. Anadarko's portfolio of assets includes positions in onshore resource plays in the Rocky Mountains region, the southern United States and the Appalachian basin.