Anadarko Profit Surpasses Estimates on Increased Production
This article is for subscribers only.
Anadarko Petroleum Corp., the second-biggest U.S. independent oil and natural gas producer by market value, reported fourth-quarter profit that exceeded analysts’ estimates and output that surpassed its own forecast.
Net income was $203 million, or 40 cents a share, compared with a net loss of $358 million, or 72 cents a share, a year earlier, The Woodlands, Texas-based company said in a statement yesterday. Excluding one-time items such as writing down the value of certain assets, per-share profit was 20 cents more than the 71-cent average of 28 estimates compiled by Bloomberg.