Upcoming AWS Coverage on ConocoPhillips Post-Earnings Results

LONDON, UK / ACCESSWIRE / February 7, 2017 / Active Wall St. announces its post-earnings coverage on Anadarko Petroleum Corp. (NYSE: APC). The Company reported its fourth quarter and fiscal year 2016 results on January 31, 2017. The energy Company outperformed revenue estimates. Register with us now for your free membership at:

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One of Anadarko Petroleum's competitors within the Independent Oil & Gas space, ConocoPhillips (NYSE: COP), released its Q4 and full-year 2016 financial and operating results on Thursday, February 02, 2017. AWS will be initiating a research report on ConocoPhillips in the coming days.

Today, AWS is promoting its earnings coverage on APC; touching on COP. Get our free coverage by signing up to:

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Earnings Reviewed

For the quarter ended on December 31, 2016, Anadarko Petroleum reported revenues of 2.39 billion, up 16.3% compared to revenue of $2.05 billion in Q4 2015 and topped analysts' consensus estimates of $2.24 billion. For FY16, the Corporation reported revenues of $7.87 billion compared to revenue of $8.70 billion in FY15.

For Q4 2016, Anadarko Petroleum reported a net loss attributable to common stockholders of $515 million, or $0.94 per diluted share, narrower than the net loss attributable to common stockholders of $1.25 billion, or $2.45 per diluted share, in Q4 2015. Excluding certain items, the Company's quarter loss per diluted share was $0.50 per share against a loss of $0.57 per share in the year ago same period. Analysts forecasted a loss of $0.45 per share. For the year ended December 31, 2016, Anadarko reported a net loss attributable to common stockholders of $3.07 billion, or $5.90 per diluted share.

Sales Details and Proved Reserves

Anadarko's FY16 sales volumes of oil, natural gas, and natural gas liquids (NGLs) totaled 290 million BOE, or an average of 793,000 BOE per day. The Company's Q4 2016 sales volumes of oil, natural gas, and NGLs averaged approximately 774,000 BOE per day.

In FY16, Anadarko organically added 300 million BOE of proved reserves before the effects of price revisions. Anadarko incurred costs of $5.63 billion, which included $2.45 billion of acquisition costs. The Company's oil and natural gas exploration and development costs were $3.21 billion in FY16. Anadarko Petroleum estimates its proved reserves at year-end 2016 at 1.72 billion BOE, with 77% of its reserves categorized as proved developed. At year-end 2016, Anadarko's proved reserves comprised of 57% in liquids and 43% of natural gas.

Operating Highlights

In FY16, Anadarko reduced its capital investments by approximately 50% relative to FY15, excluding capital investments associated with Western Gas Partners, L.P.; however, it delivered significant sales-volume increases in its two US 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% over FY16. In the DJ Basin, sales volumes averaged 244,000 BOE per day ? a 20,000-BOE per day increase over FY15. 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 Q1 2016.

In December, 2016 Anadarko closed the acquisition of Freeport-McMoRan's deep-water 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.

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 Q4 2016. Meanwhile, the TEN project offshore Ghana, which achieved first oil in August, successfully increased gross production to an average of approximately 54,000 BOPD in December 2016.

Financial Insights

Anadarko ended 2016 with $3.2 billion of cash on hand. Net cash provided by operating activities in Q4 2016 was $1.12 billion. Full-year 2016 net cash provided by operating activities totaled $3.00 billion. During the year, the Company closed more than $4.0 billion of monetization. Anadarko also announced the divestitures of its Eagleford and Marcellus shale positions totaling more than $3.5 billion, which is expected to close during Q1 2017.

During Q4 2016 the Corporation 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.

Stock Performance

On Monday, February 06, 2017, the stock closed the trading session at $69.10, falling 1.85% from its previous closing price of $70.40. A total volume of 3.17 million shares have exchanged hands. Anadarko Petroleum's stock price surged 14.77% in the last three months, 31.15% in the past six months, and 70.11% in the previous twelve months. The Company's shares have a dividend yield of 0.29%. At Monday's closing price, the stock's net capitalization stands at $37.91 billion.

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SOURCE: Active Wall Street