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$APC reaffirmed the guidance for the deepwater Gulf of Mexico (GOM), DJ and Delaware basin assets.
In the deepwater GOM, $APC expects avg. production rates to approach 130,000 barrels of oil per day (BOPD) for full-year 2017.
In the Delaware and DJ basins, $APC is on track to deliver a combined projected exit rate of about 150,000 BOPD in 2017.
$APC’s BoD has authorized a $2.5Bil share repurchase program.
The authorization extends through the end of 2018. At the current share price, this represents approx. 10% of the company’s outstanding common shares, and $APC will initially target $1Bil of share repurchases prior to year-end 2017.
Anadarko Petroleum Corp. ($APC) was raised to Overweight from Neutral with a $62 price target at Atlantic Equities.
APC was down 0.75% at $49.05 on Thursday and indicated down another 46 cents 48.58 on Friday.
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