Anadarko Petroleum $APC Falls 4% After More Losses & Cutting Budget

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  • #10537
    ThePitBoss
    Participant

    [article]55[/article]

    #11895
    ThePitBoss
    Participant

    $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.

    #11896
    ThePitBoss
    Participant

    $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.

    #12351
    ThePitBoss
    Participant

    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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