BP has received most of the blame for the Gulf of Mexico oil spill, but Anadarko Petroleum Cop. could still wind up with a big bill for the disaster.
The independent oil and gas exploration firm, based in The Woodlands, owns a 25 percent stake in BP's blown-out Macondo well and could be forced to pay its cut of cleanup costs that could run into the tens of billions of dollars.
On Tuesday evening, when the company releases its second quarter financial results, investors will be watching for any hints about how the Gulf catastrophe could impact the company....MORE
From the AP via MSN Money:
...WHAT'S EXPECTED: The company, based in The Woodlands, Texas, reiterated its full-year forecasts in June. It expects to sell between 230 million and 234 million barrels of oil equivalent this year. Capital spending will range between $5.3 billion and $5.6 billion.Previously:
Analysts polled by Thomson Reuters, on average, have forecast earnings of 36 cents a share on revenue of $2.75 billion. Such estimates typically exclude one-time items.
Argus Research analyst Phil Weiss said it could be some time before the company's ultimate liability for the Gulf disaster will be determined. His other concern is the impact of the moratorium....
Why we Chose Anadarko over BP as a Rebound Play (APC; BP)
"Anadarko Petroleum Faces High Hurdle in Proving BP Was “Grossly Negligent”" (APC)
Could be HUGE for Anadarko: "BP CEO: We won't be found grossly negligent. BP counsel: Yes we will" (APC; BP)
A Mandy Rice-Davies Moment!: "BP denies negligence statement" (BP; APC)