Anadarko Petroleum Corporation announced 2013 fourth-quarter results, reporting a net loss of $770 million.
Cash flow from operating activities in the fourth quarter of 2013 was approximately $2.104 billion, and discretionary cash flow totaled $2.049 billion.
For the year ended Dec. 31, 2013, Anadarko reported net income of $801 million and full-year 2013 cash flow from operating activities was $8.888 billion.
Discretionary cash flow for the year totaled $8.033 billion.
- Delivered record sales volumes, including an increase of more than 32,000 barrels-per-day in liquids volumes over 2012 from core horizontal growth plays in Wattenberg, Eagleford and East Texas/North Louisiana
- Accelerated approximately $4.5 billion of value through announced asset monetizations
- Reached milestones at multiple large oil projects with first oil at El Merk, the installation of the Lucius spar, and the sanctioning of the Heidelberg and TEN developments, along with progressing liquefied natural gas (LNG) off-take agreements
- Achieved a 67-percent deepwater exploration/appraisal success rate
“In 2013, Anadarko built upon its multi-year track record of delivering consistent results, with an approximate 7-percent year-over-year increase in daily sales volumes, industry-leading deepwater exploration/appraisal success, unmatched portfolio management, and a 194-percent reserve-replacement ratio (before the effects of price revisions) at very competitive costs,” said Al Walker, Anadarko Chairman, President and CEO. “I’m extraordinarily proud of the ability and focus demonstrated by our employees and the resiliency of our portfolio in meeting or exceeding our 2013 goals. I’m confident we’ll continue to deliver differentiating results in 2014 and longer term through our focus on value acceleration, margin expansion and investment returns.”
Press Release, February 5, 2014