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News Releases

Anadarko Announces 2016 Fourth-Quarter And Full-Year Results

HOUSTON, Jan. 31, 2017 /PRNewswire/ -- Anadarko Petroleum Corporation (NYSE: APC) today announced 2016 fourth-quarter results, reporting a net loss attributable to common stockholders of $515 million, or $0.94 per share (diluted). These results include certain items typically excluded by the investment community in published estimates. In total, these items increased the net loss by $243 million, or $0.44 per share (diluted), on an after-tax basis.(1) Net cash provided by operating activities in the fourth quarter of 2016 was $1.12 billion.

For the year ended Dec. 31, 2016, Anadarko reported a net loss attributable to common stockholders of $3.07 billion, or $5.90 per share (diluted). Full-year 2016 net cash provided by operating activities totaled $3.00 billion.

2016 HIGHLIGHTS

  • Surpassed initial sales-volume expectations by 11 million barrels of oil equivalent (BOE) on a same-store-sales basis,(2) while keeping capital investments within initial guidance
  • Closed more than $4.0 billion of monetizations in 2016, with an additional $3.5 billion of announced divestitures, which are expected to close in the first quarter of 2017
  • Achieved operating milestones including production records at Lucius, Caesar/Tonga and in the Delaware and DJ basins, as well as first oil at Heidelberg and TEN
  • Closed the immediately accretive Freeport-McMoRan deepwater Gulf of Mexico acquisition
  • Increased the expected five-year compounded annual oil growth rate to 12 to 14 percent

"Our employees did outstanding work over the past year to overcome the prolonged market challenges and sharpen the company's competitive focus going forward," said Al Walker, Anadarko Chairman, President and CEO.  "As a result of these actions, we have a stronger balance sheet, an improved cost structure, and a more concentrated portfolio focused on higher-margin oil production provided by our leading positions in the Delaware and DJ basins and the deepwater Gulf of Mexico. These accomplishments, along with our monetization activities, the cash-generating capabilities of our international operations, a successful exploration program, and the acquisition of Freeport-McMoRan's Gulf of Mexico properties, have created strong momentum going into 2017. We are already increasing investments in our three 'Ds' to drive a five-year compounded annual oil growth rate of 12 to 14 percent, and I believe Anadarko is in a better position today to deliver value than at any time in my tenure with the company."

SALES VOLUMES AND PROVED RESERVES

Anadarko's full-year sales volumes of oil, natural gas and natural gas liquids (NGLs) totaled 290 million BOE, or an average of 793,000 BOE per day. Fourth-quarter 2016 sales volumes of oil, natural gas and NGLs averaged approximately 774,000 BOE per day.

In 2016, Anadarko organically added 300 million BOE of proved reserves before the effects of price revisions. Anadarko's costs incurred were $5.63 billion, which includes $2.45 billion of acquisition costs. The company's oil and natural gas exploration and development costs were $3.21 billion.(3) The company estimates its proved reserves at year-end 2016 totaled 1.72 billion BOE, with 77 percent of its reserves categorized as proved developed. At year-end 2016, Anadarko's proved reserves were comprised of 57 percent liquids and 43 percent natural gas.

OPERATING HIGHLIGHTS

In 2016, Anadarko reduced its capital investments by approximately 50 percent relative to 2015, excluding capital investments associated with Western Gas Partners, LP (NYSE: WES), yet delivered significant sales-volume increases in its two most attractive U.S. onshore operating areas – the Delaware and DJ basins. Sales volumes in the Delaware Basin averaged approximately 45,000 BOE per day, including an increase of 8,000 barrels of oil per day (BOPD), representing a 50-percent increase over 2015. In the DJ Basin, sales volumes averaged 244,000 BOE per day – a 20,000-BOE per day increase over 2015. The company increased rig activity in both basins during the year, ending 2016 with nine operated rigs in the Delaware Basin and five operated rigs in the DJ Basin, compared to six rigs in the Delaware and two in the DJ in the first quarter of 2016.

In December, Anadarko closed the acquisition of Freeport-McMoRan's deepwater Gulf of Mexico properties for $1.8 billion net of purchase-price adjustments, providing the company with the largest number of floating production facilities in the Gulf and doubling its net sales volumes from the region to more than 160,000 BOE per day. Also in the Gulf, the company announced exploration success at the Warrior prospect, which is a likely tieback to the company's Marco Polo facility. Anadarko expects to spud an appraisal well to Warrior in the second quarter of 2017. Additionally, a successful appraisal well was drilled at the Phobos discovery, which is being evaluated as a possible tieback to Anadarko's Lucius facility.

Internationally, Anadarko's operations in Algeria continued to produce at their highest level since 2009, with gross production averaging 404,000 BOE per day during the fourth quarter. Meanwhile, the TEN project offshore Ghana, which achieved first oil in August, successfully ramped gross production to an average of approximately 54,000 BOPD in December.

OPERATIONS REPORT

For additional details on Anadarko's fourth-quarter 2016 operations and exploration program, please refer to the comprehensive Operations Report available at www.anadarko.com.

FINANCIAL HIGHLIGHTS

Anadarko ended 2016 with $3.2 billion of cash on hand. During the year, the company generated $3.0 billion of net cash provided by operating activities and closed monetizations totaling more than $4.0 billion. Anadarko also has announced the divestitures of its Eagleford and Marcellus shale positions totaling more than $3.5 billion, which are expected to close during the first quarter of 2017. During the fourth quarter, the company redeemed its remaining $750 million of 2017 debt maturities. Subsequent to year end, the company further strengthened its liquidity position by renewing its $2.0 billion, 364-day credit facility with a new maturity in 2018.

CONFERENCE CALL TOMORROW AT 8 A.M. CST, 9 A.M. EST

Anadarko will host a conference call on Wednesday, Feb. 1, 2017, at 8 a.m. Central Standard Time (9 a.m. Eastern Standard Time) to discuss fourth-quarter and full-year 2016 results. The dial-in number is 877.883.0383 in the U.S. or 412.902.6506 internationally. The confirmation number is 9799112. 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

Nine pages of summary financial data follow, including costs incurred, proved reserves and current hedge positions.

(1) See the accompanying table for details of certain items affecting comparability.

(2) See the accompanying table for a reconciliation of same-store sales volumes, which reflects both acquisitions and divestitures.

(3) See the accompanying table for a reconciliation of GAAP to non-GAAP financial measures and a statement indicating why management believes the non-GAAP financial measures provide useful information for investors.

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 2016, the company had 1.72 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 APC 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, finalize year-end reserves, timely complete and commercially operate the projects and drilling prospects identified in this news release, and consummate the transactions described in this news release. 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

INVESTORS:
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 Financial Measures

Below are reconciliations of certain GAAP to non-GAAP financial measures, 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 December 31, 2016



Before


After


Per Share

millions except per-share amounts


Tax


Tax


(diluted)

Net income (loss) attributable to common stockholders




$

(515)



$

(0.94)


Adjustments for certain items affecting comparability







Total gains (losses) on derivatives, net, less net cash from settlement of commodity derivatives*


$

304



193



0.35


Gains (losses) on divestitures, net


(241)



(155)



(0.28)


Impairments







Producing and general properties


(166)



(101)



(0.18)


Exploration assets


(149)



(115)



(0.21)


Restructuring charges


(26)



(16)



(0.03)


Early termination of rig


(49)



(32)



(0.06)


Loss on early extinguishment of debt


(31)



(20)



(0.04)


Environmental reserves


21



13



0.03


Change in uncertain tax positions (FIN 48)




(10)



(0.02)


Certain items affecting comparability


$

(337)



(243)



(0.44)


Adjusted net income (loss)




$

(272)



$

(0.50)




*

Includes $483 million related to interest-rate derivatives and $(179) million related to commodity derivatives.

 



Quarter Ended December 31, 2015



Before


After


Per Share

millions except per-share amounts


Tax


Tax


(diluted)

Net income (loss) attributable to common stockholders




$

(1,250)



$

(2.45)


Adjustments for certain items affecting comparability







Total gains (losses) on derivatives, net, less net cash from settlement of commodity derivatives*


$

139



88



0.17


  Gains (losses) on divestitures, net (after noncontrolling interest)


(7)



(5)



(0.01)


  Impairments







  Producing properties (after noncontrolling interest)


(1,205)



(761)



(1.50)


  Exploration assets


(144)



(93)



(0.18)


  Clean Water Act penalty accrual


(70)



(70)



(0.14)


  Settlement accrual


(74)



(47)



(0.09)


  Inventory adjustments


(38)



(25)



(0.05)


  Environmental reserves


(29)



(18)



(0.03)


  Other adjustments


(13)



(10)



(0.02)


  Change in uncertain tax positions (FIN 48)




(13)



(0.03)


Certain items affecting comparability


$

(1,441)



(954)



(1.88)


Adjusted net income (loss)




$

(296)



$

(0.57)




*

Includes $32 million related to interest-rate derivatives, $106 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 believes oil and natural gas exploration and development costs is a more accurate reflection of the expenditures incurred during the current year excluding acquisition costs and certain obligations to be paid in future periods.

millions


Year Ended
December 31,
2016

Costs incurred



$

5,633


Costs incurred related to the Gulf of Mexico acquisition*



(2,454)


Asset retirement obligation liabilities incurred



(191)


Cash expenditures for asset retirement obligations



222


Oil and natural gas exploration and development costs



$

3,210




*

Includes capitalized asset retirement costs.

 

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.




December 31, 2016








Anadarko




Anadarko


WGP*


excluding

millions



Consolidated


Consolidated


WGP

Total debt



$

15,323



$

3,119



$

12,204


Less cash and cash equivalents



3,184



359



2,825


Net debt



$

12,139



$

2,760



$

9,379

















Anadarko






Anadarko


excluding

millions





Consolidated


WGP

Net debt





$

12,139



$

9,379


Total equity





15,497



12,212


Adjusted capitalization





$

27,636



$

21,591














Net debt to adjusted capitalization ratio





44

%


43

%



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


Year Ended


December 31,


December 31,

millions

2016


2015


2016


2015

Cash Flows from Operating Activities








Net income (loss)

$

(452)



$

(1,524)



$

(2,808)



$

(6,812)


Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities








Depreciation, depletion, and amortization

1,099



1,022



4,301



4,603


Deferred income taxes

(117)



(525)



(1,238)



(3,152)


Dry hole expense and impairments of unproved properties

313



274



613



2,267


Impairments

166



1,504



227



5,075


(Gains) losses on divestitures, net

241



19



757



1,022


Loss on early extinguishment of debt

31





155




Total (gains) losses on derivatives, net

(342)



(223)



292



(100)


Operating portion of net cash received (paid) in settlement of derivative instruments

38



84



267



335


Other

86



101



342



320


Changes in assets and liabilities*

60



(475)



92



(5,435)


Net Cash Provided by (Used in) Operating Activities**

$

1,123



$

257



$

3,000



$

(1,877)


Net Cash Provided by (Used in) Investing Activities

$

(1,506)



$

(1,075)



$

(2,762)



$

(4,771)


Net Cash Provided by (Used in) Financing Activities

$

(413)



$

(314)



$

2,008



$

220










Capital Expenditures***

$

993



$

1,313



$

3,314



$

5,888




The year ended December 31, 2015, includes a $5,210 million decrease for the Tronox-related contingent liability.

** 

Restructuring charges (excluding stock-based compensation) were $23 million for the quarter ended December 31, 2016, and $357 million for the year ended December 31, 2016. Cash payments for restructuring charges were $30 million for the quarter ended December 31, 2016, and $247 million for the year ended December 31, 2016.

*** 

Includes Western Gas Partners, LP (WES) capital expenditures of $135 million for the quarter ended December 31, 2016, and $120 million for the quarter ended December 31, 2015, $491 million for the year ended December 31, 2016, and $525 million for the year ended December 31, 2015.

 

Anadarko Petroleum Corporation

(Unaudited)



Quarter Ended


Year Ended

Summary Financial Information

December 31,


December 31,

millions except per-share amounts

2016


2015


2016


2015

Consolidated Statements of Income








Revenues and Other








Oil sales

$

1,454



$

1,156



$

4,668



$

5,420


Natural-gas sales

443



395



1,564



2,007


Natural-gas liquids sales

281



189



921



833


Gathering, processing, and marketing sales

399



294



1,294



1,226


Gains (losses) on divestitures and other, net

(190)



19



(578)



(788)


Total

2,387



2,053



7,869



8,698


Costs and Expenses








Oil and gas operating

203



230



811



1,014


Oil and gas transportation

258



264



1,002



1,117


Exploration

440



384



946



2,644


Gathering, processing, and marketing

329



256



1,087



1,054


General and administrative

324



288



1,440



1,176


Depreciation, depletion, and amortization

1,099



1,022



4,301



4,603


Other taxes

114



93



536



553


Impairments

166



1,504



227



5,075


Other operating expense

64



154



118



271


Total

2,997



4,195



10,468



17,507


Operating Income (Loss)

(610)



(2,142)



(2,599)



(8,809)


Other (Income) Expense








Interest expense

233



209



890



825


Loss on early extinguishment of debt

31





155




(Gains) losses on derivatives, net

(343)



(222)



286



(99)


Other (income) expense, net

(15)



40



(101)



149


Tronox-related contingent loss







5


Total

(94)



27



1,230



880


Income (Loss) Before Income Taxes

(516)



(2,169)



(3,829)



(9,689)


Income tax expense (benefit)

(64)



(645)



(1,021)



(2,877)


Net Income (Loss)

(452)



(1,524)



(2,808)



(6,812)


Net income (loss) attributable to noncontrolling interests

63



(274)



263



(120)


Net Income (Loss) Attributable to Common Stockholders

$

(515)



$

(1,250)



$

(3,071)



$

(6,692)


Per Common Share








Net income (loss) attributable to common stockholders—basic

$

(0.94)



$

(2.45)



$

(5.90)



$

(13.18)


Net income (loss) attributable to common stockholders—diluted

$

(0.94)



$

(2.45)



$

(5.90)



$

(13.18)


Average Number of Common Shares Outstanding—Basic

551



508



522



508


Average Number of Common Shares Outstanding—Diluted

551



508



522



508










Exploration Expense








Dry hole expense

$

188



$

193



$

397



$

1,052


Impairments of unproved properties

125



81



216



1,215


Geological and geophysical expense

40



63



121



168


Exploration overhead and other

87



47



212



209


Total

$

440



$

384



$

946



$

2,644


 

Anadarko Petroleum Corporation

(Unaudited)







December 31,


December 31,

millions





2016


2015

Condensed Balance Sheets








Cash and cash equivalents





$

3,184



$

939


Accounts receivable, net of allowance





1,728



2,469


Other current assets





354



573


Net properties and equipment





32,168



33,751


Other assets





2,226



2,268


Goodwill and other intangible assets





5,904



6,331


Total Assets





$

45,564



$

46,331


Short-term debt





42



32


Other current liabilities





3,286



4,148


Long-term debt





15,281



15,636


Deferred income taxes





4,324



5,400


Asset retirement obligations





2,802



1,750


Other long-term liabilities





4,332



3,908


Common stock





57



52


Paid-in capital





11,875



9,265


Retained earnings





1,704



4,880


Treasury stock





(1,033)



(995)


Accumulated other comprehensive income (loss)





(391)



(383)


Total stockholders' equity





12,212



12,819


Noncontrolling interests





3,285



2,638


Total Equity





15,497



15,457


Total Liabilities and Equity





$

45,564



$

46,331


Capitalization








Total debt





$

15,323



$

15,668


Total equity





15,497



15,457


Total





$

30,820



$

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


Natural Gas


NGLs


Oil


Natural Gas


NGLs


Oil


Natural Gas


NGLs


MBbls/d


MMcf/d


MBbls/d


MMBbls


Bcf


MMBbls


Per Bbl


Per Mcf


Per Bbl

Quarter Ended December 31, 2016


















United States

240



1,881



116



22



173



10



$

46.31



$

2.56



$

24.24


Algeria

68





8



6





1



49.39





30.10


Other International

28







3







47.18






Total

336



1,881



124



31



173



11



$

47.01



$

2.56



$

24.62




















Quarter Ended December 31, 2015


















United States

229



2,068



112



21



190



10



$

37.83



$

2.08



$

16.86


Algeria

68





6



7







44.69





30.04


Other International

19







1







44.42






Total

316



2,068



118



29



190



10



$

39.71



$

2.08



$

17.52




















Year Ended December 31, 2016


















United States

233



2,093



122



85



766



44



$

39.06



$

2.04



$

19.32


Algeria

64





6



24





2



44.15





25.63


Other International

19







7







43.18






Total

316



2,093



128



116



766



46



$

40.34



$

2.04



$

19.64




















Year Ended December 31, 2015


















United States

232



2,334



124



85



852



45



$

45.00



$

2.36



$

17.03


Algeria

59





6



22





2



51.93





29.85


Other International

26







9







51.09






Total

317



2,334



130



116



852



47



$

46.79



$

2.36



$

17.61







































Average Daily Sales Volumes

MBOE/d


Sales Volumes

MMBOE





























Quarter Ended December 31, 2016

774


71











Quarter Ended December 31, 2015

779


71





























Year Ended December 31, 2016

793


290











Year Ended December 31, 2015

836


305





























 

Sales Revenue and Commodity Derivatives









Sales



Net Cash Received (Paid) from Settlement of Commodity Derivatives

millions

Oil


Natural Gas


NGLs



Oil


Natural Gas


NGLs

Quarter Ended December 31, 2016













United States

$

1,025



$

443



$

259




$

39



$



$


Algeria

309





22









Other International

120













Total

$

1,454



$

443



$

281




$

39



$



$















Quarter Ended December 31, 2015













United States

$

799



$

395



$

173




$



$

84



$


Algeria

282





16









Other International

75













Total

$

1,156



$

395



$

189




$



$

84



$















Year Ended December 31, 2016











United States

$

3,330



$

1,564



$

861




$

253



$

13



$

(1)


Algeria

1,043





60









Other International

295













Total

$

4,668



$

1,564



$

921




$

253



$

13



$

(1)















Year Ended December 31, 2015











United States

$

3,817



$

2,007



$

769




$

6



$

312



$

17


Algeria

1,125





64









Other International

478













Total

$

5,420



$

2,007



$

833




$

6



$

312



$

17


 

Anadarko Petroleum Corporation

Estimated Year-End Proved Reserves 2014 - 2016















MMBOE


2016


2015


2014

Proved Reserves







Beginning of year


2,057



2,858



2,792


Reserves additions and revisions







Discoveries and extensions


40



29



63


Infill-drilling additions


69



89



577


Drilling-related reserves additions and revisions


109



118



640


Other non-price-related revisions


191



289



(137)


Net organic reserves additions


300



407



503


Acquisition of proved reserves in place


97



1




Price-related revisions


(147)



(624)



(1)


Total reserves additions and revisions


250



(216)



502


Sales in place


(294)



(279)



(124)


Production


(291)



(306)



(312)


End of year


1,722



2,057



2,858


Proved Developed Reserves







Beginning of year


1,632



1,969



2,003


End of year


1,325



1,632



1,969


 

Anadarko Petroleum Corporation

Commodity Hedge Positions

As of January 31, 2017
















Weighted Average Price per barrel




Volume

(MBbls/d)


Floor Sold


Floor Purchased


Ceiling Sold

Oil









Three-Way Collars








2017









WTI


68

$

40.00

$

50.00

$

58.84


Brent


23

$

40.00

$

50.00

$

62.64




91

$

40.00

$

50.00

$

59.80










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 January 31, 2017







Instrument

Notional Amt.

Reference Period

Mandatory

Termination Date

Rate Paid

Rate Received

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 December 31, 2016


Quarter Ended December 31, 2015


Oil
MBbls/d


Natural Gas
MMcf/d


NGLs
MBbls/d


Total
MBOE/d


Oil
MBbls/d


Natural Gas
MMcf/d


NGLs
MBbls/d


Total
MBOE/d

U.S. Onshore

147



1,704



102



533



159



1,559



82



501


Deepwater Gulf of Mexico

69



82



8



91



54



115



6



79


International and Alaska

107





8



115



96





6



102


Same-Store Sales

323



1,786



118



739



309



1,674



94



682


Acquisition*

12



11



1



15










Divestitures**

1



84



5



20



7



394



24



97


Total

336



1,881



124



774



316



2,068



118



779







Year Ended December 31, 2016


Year Ended December 31, 2015


Oil
MBbls/d


Natural Gas
MMcf/d


NGLs
MBbls/d


Total
MBOE/d


Oil
MBbls/d


Natural Gas
MMcf/d


NGLs
MBbls/d


Total
MBOE/d

U.S. Onshore

155



1,737



100



545



160



1,618



92



522


Deepwater Gulf of Mexico

62



79



7



82



53



152



7



85


International and Alaska

93





6



99



94





6



100


Same-Store Sales

310



1,816



113



726



307



1,770



105



707


Acquisition*

3



3





4










Divestitures**

3



274



15



63



10



564



25



129


Total

316



2,093



128



793



317



2,334



130



836




















Includes volumes related to the acquisition of Gulf of Mexico assets on December 15, 2016.

** 

Includes East Chalk, Wamsutter, Ozona, Elm Grove, Hugoton, Hearne, Carthage, EOR, Bossier, and Powder River Basin CBM.

 

PDF - http://mma.prnewswire.com/media/463433/APC_4Q16_OpsReport_1_31_17.pdf

 

SOURCE Anadarko Petroleum Corporation

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