anadarko petroleum corp (APC) Key Developments
Anadarko Petroleum Corp. Plans to Spend about $1.8 Billion in 2015 in the Wattenberg Area North of Denver
May 19 15
Anadarko Petroleum Corp. still plans to spend about $1.8 billion in 2015 in the Wattenberg area north of Denver.
Anadarko Petroleum Corporation Amends By-Laws
May 15 15
Effective May 11, 2015, the Board of Directors of Anadarko Petroleum Corporation amended and restated the By-Laws of the company. In addition to non-substantive language and conforming changes and other technical edits, the By-Laws were amended and restated in the manner summarized below. 'Indemnification - Article IX was amended in order to provide for mandatory indemnification by the company for all non-officer employees to the fullest extent permitted by applicable law as it presently exists or may hereafter be amended. Previously, the company had discretion regarding such indemnification.' 'Meetings of Stockholders - Article II, Sections 2.2 and 2.3 were amended to clarify that the company may postpone, recess, adjourn, reschedule or cancel any annual or special meeting of stockholders previously scheduled by the Board.
Anadarko Petroleum Corporation Declares Quarterly Cash Dividend, Payable June 24, 2015
May 12 15
The Board of Directors of Anadarko Petroleum Corporation declared a quarterly cash dividend on the company's common stock of 27 cents per share, payable June 24, 2015, to stockholders of record at the close of business on June 10, 2015.
Anadarko Not To Sell Mozambique Assets
May 5 15
Anadarko Petroleum Corporation (NYSE:APC) is not in talks to sell its multi-billion dollar stake in Mozambique's gas reserves. Anadarko is instead working towards a final investment decision on the planned liquefied natural gas project. "As it relates to Mozambique, we're not in discussions with anybody," Al Walker, Anadarko's Chief Executive Officer said. "We've never hired a banker to run a process,” he added.
Anadarko Petroleum Corporation Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Reports Impairment Charge for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Quarter and Full Year of 2015
May 4 15
Anadarko Petroleum Corporation reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the period, the company announced GAAP net loss attributable to shareholders during the January-to-March period were $3.268 billion, or $6.45 per share, expanding on a net loss of $2.67 million, or $5.30 per share, during the same quarter last year. Excluding one-time items, the net loss narrowed by $2.903 billion, or $5.73 per share, producing a non-GAAP net loss of $365 million, or $0.72 per share, reversing a $639 million adjusted profit last year. Revenues and Other was $2,321 million compared to $5,844 million a year ago. Operating loss was $4,208 million compared to operating income of $2,975 million a year ago. Loss before income taxes was $4,628 million compared to $1,962 million a year ago. Net cash used in operating activities of $4,504 million compared to net cash provided by operating activities of $1,729 million a year ago. Capital expenditures were $1,822 million compared to $2,568 million a year ago. Free cash flow was negative at $327 million compared to $45 million a year ago.
The company provided operating and finance guidance for the second quarter and full year of 2015. For the quarter, the company expects total sales volumes to be of 77 (MMBOE) to 79 (MMBOE). Capital expenditures expected to be of $1,425 million to $1,625 million.
For the full year, the company expects total sales volumes to be of 300 (MMBOE) to 306(MMBOE). Capital expenditures expected to be of $5,400 million to $5,700 million.
The company reported impairment charge for the first quarter of 2015.
For the quarter, the company announced impairment charge of $2,783 million compared to $3 million for the same period a year ago.