Anadarko announce final 2017 results

For the year ended 31 December 2017, Anadarko reported a net loss attributable to common stockholders of US$456 million, or US$0.85 per share (diluted). Full year 2017 net cash provided by operating activities totalled US$4.0 billion.

2017 Highlights

• Further improved oil sales-volume product mix to 53%, with liquids increasing to 67%, contributing to a 67% improvement in margins per barrel.
• Achieved production exit rates totaling more than 150 000 bpd combined from the Delaware and DJ basins.
• Closed more than US$4.0 billion of asset divestitures.
• Announced US$2.5 billion share repurchase program and, by year end, repurchased 21.9 million shares for approximately US$1.1 billion (average price of US$48.33 per share).
• Achieved completion of the Legal and Contractual Framework and commenced resettlement for the Mozambique LNG project.

"Given the significant volatility the energy sector faced in 2017, we continued to focus on capital efficiency throughout the year by investing upstream capital within discretionary cash flow, while materially improving margins per barrel - an approach that produced very encouraging results as we concluded the year," said Al Walker, Anadarko Chairman, President and CEO. "These operational efficiencies, an improving market environment, and strong momentum provide an exciting backdrop to 2018. Our capital-investment program this year is well positioned to deliver attractive cash returns that produce healthy production growth. As we have stated previously, we will complement this capital-efficient investment plan with additional share buybacks, increases to our dividend yield, and improvements to our credit metrics, as market conditions permit, rather than materially increasing our capital expenditures to pursue greater production volume."

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/07022018/anadarko-announce-final-2017-results/