Friday, July 9, 2010

"Anadarko won't help pay for Gulf spill" (APC; BP)

The stock is up 68 cents at $45.24. That's a bit under 19% since we decided to show APC some love on June 30, the day it started to bounce off it's double bottom low.
From the Houston Chronicle's NewsWatch Energy blog:
Anadarko says it will not pay BP about $272 million for costs related to the oil leaking from the Macondo well in the Gulf of Mexico, the AP said.
Early last month BP billed Anadarko, saying that as a 25-percent stakeholder in the operation, Anadarko is contractually bound to help cover costs. BP also asked stakeholder Mitsui to pay $111 million.
Anadarko spokesman John Christiansen said today that the company told BP it will withhold payment for the bill BP sent. The company has said it should not be responsible for BP's "reckless" actions.
Bullish Options Plays in Anadarko Petroleum (APC)
UPDATED: Sometimes the Crowd is Right: Relatively Heavy Call Activity in Anadarko Petroleum (APC)
"As Oil Spill Rages On, Option Players Remain Optimistic About Anadarko Petroleum Corporation" (APC; BP)
Royal Bank of Scotland on BP: "BUY" and "Anadarko Trades at $99,999, Briefly Halted" (APC; BP)