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News Releases

Anadarko Announces Second-Quarter 2017 Results
REDUCES FULL-YEAR ANTICIPATED CAPITAL INVESTMENTS
MAINTAINS EXPECTED OIL PRODUCTION EXIT RATES

HOUSTON, July 24, 2017 /PRNewswire/ -- Anadarko Petroleum Corporation (NYSE: APC) today announced its second-quarter 2017 results, reporting a net loss attributable to common stockholders of $415 million, or $0.76 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 $8 million, or $0.01 per share (diluted), on an after-tax basis.(1) Net cash provided by operating activities in the second quarter of 2017 was $857 million.

SECOND-QUARTER HIGHLIGHTS

  • Achieved a 12-percent increase in total oil sales volume over the second quarter of 2016
  • Increased overall sales-volume product mix to 67-percent liquids compared to 54-percent liquids in the second quarter of 2016
  • Continued deepwater Gulf of Mexico success with new tieback activities at Horn Mountain and K2, and facility upgrades at Constitution
  • Closed divestitures totaling more than $600 million during the quarter

"Our portfolio delivered good operating results and cash flow during the second quarter with significantly improved cash margins and increased oil volumes year-over-year, even with the temporary production impacts associated with our response efforts in Colorado," said Al Walker, Anadarko Chairman, President and CEO. "Our successful divestitures further strengthened the company's cash position, while providing flexibility for the second half of the year and beyond. The current market conditions require lower capital intensity given the volatility of margins realized in this operating environment. As such, we are reducing our level of investments by $300 million for the full year, and adjusting full-year sales-volume guidance to reflect recent divestitures and the deferred production associated with the Colorado response. We feel this is a prudent move, while still expecting to average approximately 130,000 barrels of oil per day in the deepwater Gulf of Mexico and exit the year at around 150,000 barrels of oil per day from the Delaware and DJ basins combined."

OPERATIONAL HIGHLIGHTS

Anadarko's second-quarter 2017 sales volume of oil, natural gas and natural gas liquids (NGLs) totaled 57 million barrels of oil equivalent (BOE), or an average of 631,000 BOE per day.

During the second quarter, Anadarko achieved record oil sales volume in the Delaware Basin of West Texas averaging approximately 33,000 barrels of oil per day, a 52-percent increase over the second quarter of 2016. Importantly, Anadarko is in the final stages of securing operatorship for approximately 70 percent of the acreage position, which was previously part of the joint-venture agreement that recently concluded with Shell. Anadarko's working and net-revenue interest remains unchanged, and the company's efforts can begin to evolve from capturing operatorship and appraising the prior Area of Mutual Interest to development of this world-class asset. In addition, the company continues to expand takeaway capacity having recently reached an agreement to be an anchor shipper on a residue-gas line going from the Western Gas Partners, LP (WES)-operated Ramsey plant and future WES-operated Mentone plant to the Waha area. Anadarko also concluded a tranche of crude oil pipeline capacity from the Permian Basin to Gulf Coast markets.

In the DJ Basin, oil sales volume for the quarter averaged 76,000 barrels per day. The company continued to refine its completions program and achieve greater drilling efficiencies with record cycle times for short-, mid- and longer-length laterals. The company's new completion design is yielding cumulative production improvements of more than 35 percent compared to the core type-curves provided during the March Investor Conference. During the quarter, Anadarko also mobilized significant resources in its response to the Notice to Operators issued by Colorado's oil and gas regulatory authority, which included the company's additional efforts to inspect its vertical well inventory and remove all associated one-inch return lines.

In the Deepwater Gulf of Mexico, Anadarko's oil sales volume averaged 113,000 barrels per day, as the company successfully completed several planned maintenance activities and facility upgrades. The first development well of the Horn Mountain Deep discovery was brought on line ahead of schedule and is currently producing approximately 12,000 barrels of oil per day. In addition, field production continued at a nine-year high at K2, with a new tieback brought on production in April, which is currently producing more than 9,000 BOE per day. The company also expanded its industry-leading leasehold position in the recent deepwater Gulf lease sale by being awarded 11 new leases near existing opportunities and infrastructure.

Internationally, sales volume averaged 93,000 barrels per day, an increase of 25 percent over the second quarter of 2016. The year-over-year increase was largely driven by the startup of the TEN development offshore Ghana in the third-quarter of 2016. In addition, Anadarko is completing many of the core components of the legal and contractual framework for its LNG project in Mozambique. The progress helps position the company to advance negotiations in securing long-term LNG offtake contracts as it continues toward a final investment decision.

OPERATIONS REPORT

For additional details on Anadarko's second-quarter 2017 operations and exploration program, please refer to the comprehensive Operations Report available at www.anadarko.com.

CONFERENCE CALL TOMORROW AT 7:30 A.M. CDT, 8:30 A.M. EDT

Anadarko will host a conference call on Tuesday, July 25, 2017, at 7:30 a.m. Central (8:30 a.m. Eastern) to discuss second-quarter results. The dial-in number is 877.883.0383 in the U.S. or 412.902.6506 internationally. The confirmation number is 4412190. 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

Ten pages of summary financial data follow, including current hedge positions, a reconciliation of "divestiture-adjusted" or "same-store" sales, and updated financial and production guidance.

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

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, including Anadarko's ability to successfully execute upon its capital program; to meet financial and operating guidance contained in this news release, including the impact of response efforts in Colorado; to successfully drill, complete, test and produce the wells identified in this news release; to timely complete and commercially operate the projects and drilling prospects identified in this news release; to finalize the necessary steps to ensure operatorship; and to successfully plan, secure additional government approvals, enter into long-term sales contracts, finance, build, and operate the necessary infrastructure and LNG park in Mozambique. See "Risk Factors" in the company's 2016 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
Stephanie Moreland, stephanie.moreland@anadarko.com, 832.636.2912

INVESTORS:
Robin Fielder, robin.fielder@anadarko.com, 832.636.1462
Andy Taylor, andy.taylor@anadarko.com, 832.636.3089
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 June 30, 2017



Before


After


Per Share

millions except per-share amounts


Tax


Tax


(diluted)

Net income (loss) attributable to common stockholders (GAAP)




$

(415)



$

(0.76)


Adjustments for certain items affecting comparability







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


$

(45)



(29)



(0.05)


Gains (losses) on divestitures, net


205



130



0.24


Impairments







   Producing and general properties


(10)



(7)



(0.02)


   Exploration assets


(82)



(65)



(0.12)


Restructuring charges


(18)



(11)



(0.02)


Change in uncertain tax positions




(10)



(0.02)


Certain items affecting comparability


$

50



8



0.01


Adjusted net income (loss) (Non-GAAP)




$

(423)



$

(0.77)



*    Includes $(104) million related to interest-rate derivatives and $59 million related to commodity derivatives.




Quarter Ended June 30, 2016



Before


After


Per Share

millions except per-share amounts


Tax


Tax


(diluted)

Net income (loss) attributable to common stockholders (GAAP)




$

(692)



$

(1.36)


Adjustments for certain items affecting comparability







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


$

(371)



(234)



(0.46)


Gains (losses) on divestitures, net


(104)



(66)



(0.13)


Impairments


(18)



(11)



(0.02)


Restructuring charges


(48)



(30)



(0.06)


Loss on early extinguishment of debt


(124)



(78)



(0.15)


Third-party well and platform decommissioning obligation


56



35



0.07


Change in uncertain tax positions




(4)



(0.01)


Certain items affecting comparability


$

(609)



(388)



(0.76)


Adjusted net income (loss) (Non-GAAP)




$

(304)



$

(0.60)




*

Includes $(213) million related to interest-rate derivatives, $(154) million related to commodity derivatives, and $(4) million related to gathering, processing, and marketing sales.

 

Anadarko Petroleum Corporation
Reconciliation of GAAP to Non-GAAP Measures

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.




June 30, 2017








Anadarko




Anadarko


WGP*


excluding

millions



Consolidated


Consolidated


WGP

Total debt (GAAP)



$

15,480



$

3,281



$

12,199


Less cash and cash equivalents



6,008



189



5,819


Net debt (Non-GAAP)



$

9,472



$

3,092



$

6,380

















Anadarko






Anadarko


excluding

millions





Consolidated


WGP

Net debt





$

9,472



$

6,380


Total equity





14,656



11,472


Adjusted capitalization





$

24,128



$

17,852


Net debt to adjusted capitalization ratio








39%




36%




*

Western Gas Equity Partners, LP (WGP) is a publicly traded consolidated subsidiary of Anadarko, and Western Gas Partners, LP (WES) is a consolidated subsidiary of WGP


 

Anadarko Petroleum Corporation

Cash Flow Information

(Unaudited)



Quarter Ended


Six Months Ended


June 30,


June 30,

millions

2017


2016


2017


2016

Cash Flows from Operating Activities








Net income (loss)

$

(334)



$

(611)



$

(609)



$

(1,609)


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








Depreciation, depletion, and amortization

1,037



984



2,152



2,133


Deferred income taxes

488



(407)



(172)



(820)


Dry hole expense and impairments of unproved properties

454



10



1,466



45


Impairments

10



18



383



34


(Gains) losses on divestitures, net

(205)



104



(1,009)



102


Loss on early extinguishment of debt

2



124



2



124


Total (gains) losses on derivatives, net

32



311



(115)



610


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

13



60



5



165


Other

74



88



157



203


Changes in assets and liabilities

(714)



548



(280)



105


Net Cash Provided by (Used in) Operating Activities*

$

857



$

1,229



$

1,980



$

1,092


Net Cash Provided by (Used in) Investing Activities

$

(506)



$

8



$

1,216



$

(965)


Net Cash Provided by (Used in) Financing Activities

$

(174)



$

(2,790)



$

(372)



$

329










Capital Expenditures**

$

1,210



$

728



$

2,465



$

1,624




*

Restructuring charges (excluding noncash share-based compensation) were $18 million for the quarter ended June 30, 2017, $44 million for the quarter ended June 30, 2016, $17 million for the six months ended June 30, 2017, and $224 million for the six months ended June 30, 2016. Cash payments for restructuring charges were $31 million for the quarter ended June 30, 2017, $103 million for the quarter ended June 30, 2016, $50 million for the six months ended June 30, 2017, and $182 million for the six months ended June 30, 2016.

**

Includes Western Gas Partners, LP (WES) capital expenditures of $151 million for the quarter ended June 30, 2017, and $120 million for the quarter ended June 30, 2016, $437 million for the six months ended June 30, 2017, and $260 million for the six months ended June 30, 2016.

 

Anadarko Petroleum Corporation

(Unaudited)



Quarter Ended


Six Months Ended

Summary Financial Information

June 30,


June 30,

millions except per-share amounts

2017


2016


2017


2016

Consolidated Statements of Income








Revenues and Other








Oil sales

$

1,422



$

1,125



$

3,085



$

1,975


Natural-gas sales

319



320



821



686


Natural-gas liquids sales

214



235



503



413


Gathering, processing, and marketing sales

464



305



908



545


Gains (losses) on divestitures and other, net

297



(70)



1,166



(30)


Total

2,716



1,915



6,483



3,589


Costs and Expenses








Oil and gas operating

233



202



491



410


Oil and gas transportation

229



246



478



488


Exploration

535



76



1,620



202


Gathering, processing, and marketing

359



252



710



467


General and administrative

291



305



560



754


Depreciation, depletion, and amortization

1,037



984



2,152



2,133


Other taxes

135



157



290



274


Impairments

10



18



383



34


Other operating expense

12



7



34



23


Total

2,841



2,247



6,718



4,785


Operating Income (Loss)

(125)



(332)



(235)



(1,196)


Other (Income) Expense








Interest expense

227



217



450



437


Loss on early extinguishment of debt

2



124



2



124


(Gains) losses on derivatives, net

32



307



(115)



604


Other (income) expense, net

(14)



(55)



(22)



(55)


Total

247



593



315



1,110


Income (Loss) Before Income Taxes

(372)



(925)



(550)



(2,306)


Income tax expense (benefit)

(38)



(314)



59



(697)


Net Income (Loss)

(334)



(611)



(609)



(1,609)


Net income (loss) attributable to noncontrolling interests

81



81



124



117


Net Income (Loss) Attributable to Common Stockholders

$

(415)



$

(692)



$

(733)



$

(1,726)


Per Common Share








Net income (loss) attributable to common stockholders—basic

$

(0.76)



$

(1.36)



$

(1.34)



$

(3.39)


Net income (loss) attributable to common stockholders—diluted

$

(0.76)



$

(1.36)



$

(1.34)



$

(3.39)


Average Number of Common Shares Outstanding—Basic

552



510



552



510


Average Number of Common Shares Outstanding—Diluted

552



510



552



510










Exploration Expense








Dry hole expense

$

367



$

(5)



$

843



$

6


Impairments of unproved properties

87



15



623



39


Geological and geophysical, exploration overhead, and other expense

81



66



154



157


Total

$

535



$

76



$

1,620



$

202


 

Anadarko Petroleum Corporation

(Unaudited)




June 30,


December 31,

millions


2017


2016

Condensed Balance Sheets





Cash and cash equivalents


$

6,008



$

3,184


Accounts receivable, net of allowance


1,654



1,728


Other current assets


322



354


Net properties and equipment


28,516



32,168


Other assets


2,134



2,226


Goodwill and other intangible assets


5,714



5,904


Total Assets


$

44,348



$

45,564


Short-term debt


44



42


Other current liabilities


3,110



3,286


Long-term debt


15,436



15,281


Deferred income taxes


4,232



4,324


Asset retirement obligations


2,717



2,802


Other long-term liabilities


4,153



4,332


Common stock


57



57


Paid-in capital


11,941



11,875


Retained earnings


887



1,704


Treasury stock


(1,070)



(1,033)


Accumulated other comprehensive income (loss)


(343)



(391)


Total stockholders' equity


11,472



12,212


Noncontrolling interests


3,184



3,285


Total Equity


14,656



15,497


Total Liabilities and Equity


$

44,348



$

45,564


Capitalization





Total debt


$

15,480



$

15,323


Total equity


14,656



15,497


Total


$

30,136



$

30,820


Capitalization Ratios








Total debt



51%




50%


Total equity



49%




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 June 30, 2017


















United States

243



1,238



89



22



113



8



$

46.68



$

2.84



$

24.82


Algeria

59





5



6







48.20





30.48


Other International

29







2







49.44






Total

331



1,238



94



30



113



8



$

47.19



$

2.84



$

25.14




















Quarter Ended June 30, 2016


















United States

227



2,188



126



20



199



12



$

40.25



$

1.61



$

19.42


Algeria

59





5



5





1



46.65





24.13


Other International

10







1







47.37






Total

296



2,188



131



26



199



13



$

41.77



$

1.61



$

19.60




















Six Months Ended June 30, 2017


















United States

256



1,547



100



46



280



18



$

48.01



$

2.93



$

25.79


Algeria

64





6



12





1



50.89





34.36


Other International

29







5







51.57






Total

349



1,547



106



63



280



19



$

48.84



$

2.93



$

26.27




















Six Months Ended June 30, 2016


















United States

229



2,245



125



41



409



23



$

34.07



$

1.68



$

17.24


Algeria

62





5



11





1



40.35





23.43


Other International

14







3







37.55






Total

305



2,245



130



55



409



24



$

35.51



$

1.68



$

17.49







































Average Daily Sales Volumes
MBOE/d


Sales Volumes
MMBOE





























Quarter Ended June 30, 2017

631


57











Quarter Ended June 30, 2016

792


72





























Six Months Ended June 30, 2017

713


129











Six Months Ended June 30, 2016

809


147





























 

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 June 30, 2017













United States

$

1,032



$

319



$

200




$

14



$

(1)



$


Algeria

260





14









Other International

130













Total

$

1,422



$

319



$

214




$

14



$

(1)



$















Quarter Ended June 30, 2016













United States

$

830



$

320



$

223




$

60



$

2



$

(2)


Algeria

252





12









Other International

43













Total

$

1,125



$

320



$

235




$

60



$

2



$

(2)















Six Months Ended June 30, 2017











United States

$

2,223



$

821



$

467




$

15



$

(5)



$

(3)


Algeria

594





36









Other International

268













Total

$

3,085



$

821



$

503




$

15



$

(5)



$

(3)















Six Months Ended June 30, 2016











United States

$

1,421



$

686



$

390




$

148



$

15



$


Algeria

458





23









Other International

96













Total

$

1,975



$

686



$

413




$

148



$

15



$


 

Anadarko Petroleum Corporation

Financial and Operating External Guidance

As of July 24, 2017






Note: Guidance excludes 2017 sales volumes associated with the Eagleford, Marcellus, West Chalk/Eaglebine, and Utah CBM divestitures.








3rd-Qtr


Full-Year



Guidance (see Note)


Guidance (see Note)


 Units


 Units










Total Sales Volumes (MMBOE)


58



60



231



235


Total Sales Volumes (MBOE/d)


630



652



633



644











Oil (MBbl/d)


355



361



346



351











United States


266



270



262



265


Algeria


63



64



59



60


Ghana


26



27



25



26











Natural Gas (MMcf/d)


















United States


1,085



1,120



1,140



1,165











Natural Gas Liquids (MBbl/d)


















United States


91



95



91



93


Algeria


4



5



5



6






















$ / Unit


$ / Unit

Price Differentials vs NYMEX (w/o hedges)


















Oil ($/Bbl)


(3.50)



0.50



(3.50)



0.50











United States


(4.00)





(4.00)




Algeria


(2.00)



2.00



(2.00)



2.00


Ghana


(2.00)



2.00



(2.00)



2.00











Natural Gas ($/Mcf)


















United States


(0.50)



(0.30)



(0.40)



(0.20)











 

Anadarko Petroleum Corporation

Financial and Operating External Guidance

As of July 24, 2017






Note: Guidance excludes items affecting comparability.








3rd-Qtr


Full-Year



Guidance (see Note)


Guidance (see Note)



 $ MM


 $ MM

Other Revenues









Marketing and Gathering Margin


115



125



415



435


Minerals and Other


45



65



200



220






















$ / BOE


$ / BOE

Costs and Expenses









Oil & Gas Direct Operating


4.45



4.65



3.80



4.30


Oil & Gas Transportation


3.40



3.60



3.55



3.70


Depreciation, Depletion, and Amortization


18.90



19.15



17.85



17.95


Production Taxes (% of Product Revenue)


7.0

%


8.0

%


6.5

%


7.5

%












$ MM


$ MM










General and Administrative (excludes restructuring charges)


260



280



1,000



1,050


Other Operating Expense


120



130



160



170


Exploration Expense









Non-Cash


145



165



885



985


Cash


65



85



275



295


Interest Expense (net)


220



235



895



915


Other (Income) Expense


(15)



(5)



(40)



(25)











Taxes









Algeria  (100% Current)


60

%


70

%


60

%


70

%

Rest of Company  ((200)% Current/300% Deferred for Q3 and
(100)% Current/200% Deferred for Total Year)


20

%


30

%


20

%


30

%










Noncontrolling Interest


50



60



235



255




















Avg. Shares Outstanding (MM)









Basic


552



554



552



554


Diluted


552



554



553



555




















Capital Investment (Excluding Western Gas Partners, LP)

$ MM


$ MM










APC Capital Expenditures


1,100



1,200



4,200



4,400











 

Anadarko Petroleum Corporation

Commodity Hedge Positions

As of July 24, 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



857

$

2.10

$

2.85

$

3.64











2018



250

$

2.00

$

2.75

$

3.54

 


Interest-Rate Derivatives
As of July 24, 2017







Instrument

Notional Amt.

Reference Period

Mandatory

Termination Date

Rate Paid

Rate Received

Swap

$550 Million

Sept. 2016 – 2046

Sept. 2020

6.418%

3M LIBOR

Swap

$250 Million

Sept. 2016 – 2046

Sept. 2022

6.809%

3M LIBOR

Swap

$200 Million

Sept. 2017 – 2047

Sept. 2018

6.049%

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

Swap

$250 Million

Sept. 2017 – 2047

Sept. 2023

6.761%

3M LIBOR

 

Anadarko Petroleum Corporation

Reconciliation of Same-Store Sales


Average Daily Sales Volumes



Quarter Ended June 30, 2017


Quarter Ended June 30, 2016


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

115



1,042



79



368



123



1,093



76



382


Deepwater Gulf of Mexico

113



109



9



140



56



73



6



74


International and Alaska

99





5



104



81





5



86


Same-Store Sales

327



1,151



93



612



260



1,166



87



542


Divestitures*

4



87



1



19



36



1,022



44



250


Total

331



1,238



94



631



296



2,188



131



792







Six Months Ended June 30, 2017


Six Months Ended June 30, 2016


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

116



1,078



83



379



123



1,094



73



378


Deepwater Gulf of Mexico

119



119



10



149



57



78



7



77


International and Alaska

104





6



110



87





5



92


Same-Store Sales

339



1,197



99



638



267



1,172



85



547


Divestitures*

10



350



7



75



38



1,073



45



262


Total

349



1,547



106



713



305



2,245



130



809




















*

Includes Eagleford, Marcellus, Eaglebine, Utah CBM, East Chalk, Wamsutter, Ozona, Elm Grove, Hugoton, Hearne, and Carthage.

 

SOURCE Anadarko Petroleum Corporation

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