The stock is up 85 cents (1.6%) at $53.99 in after-hours action.
Here's the press release via MarketWatch (It reads as if it were written by P.R. types aiming to reassure in conjunction with attorneys aiming to say nothing ):
Anadarko Announces Second-Quarter Results
Raises Sales-Volumes Guidance While Reaffirming Capital Receives Commitments for New Five-Year Credit Facility
Anadarko Petroleum Corporation (APC 54.00, +0.86, +1.62%) today announced a second-quarter 2010 net loss attributable to common stockholders of $40 million, or $0.08 per share (diluted). These results include certain items typically excluded by the investment community in published estimates. In total, these items decreased net income by approximately $284 million, or $0.57 per share (diluted) on an after-tax basis.(1) Cash flow from operating activities in the second quarter of 2010 was $1.566 billion, and discretionary cash flow totaled $1.278 billion.(2)
SECOND-QUARTER 2010 HIGHLIGHTS
-- Increased quarterly sales volumes by 6 percent over second-quarter 2009
-- Reduced lease operating expenses per unit by 15 percent over second-quarter 2009
-- Announced successful appraisal results in the Gulf of Mexico and Ghana
-- Achieved significant growth in shale programs
-- Continued to advance sanctioned mega projects on time and on budget
"During the second quarter, Anadarko's diverse portfolio continued to deliver upon our operating and strategic objectives with increased sales volumes, improved cost management and margins, continued drilling success onshore and offshore, and significant gains in drilling efficiencies," Anadarko Chairman and CEO Jim Hackett said. "Because of the company's strong and consistent portfolio performance, we are increasing full-year production guidance for the second time this year, while maintaining initial capital guidance. We now expect sales volumes to be in the range of 232 million to 236 million BOE (barrels of oil equivalent), representing an increase of 5 to 7 percent over 2009."...
...DEEPWATER HORIZON EVENT UPDATE
During the second quarter, the Macondo well in the Gulf of Mexico, in which Anadarko holds a 25-percent non-operating interest, discovered hydrocarbon accumulations. During suspension operations, the well blew out, an explosion occurred on the Deepwater Horizon drilling rig and the rig sank, resulting in the deaths of 11 crew members and the release of hydrocarbons into the Gulf. As previously stated, Anadarko believes that, based on the publicly available information, testimonies and investigations to date, this tragedy was preventable and likely the result of the operator's gross negligence and/or willful misconduct. A more detailed description of the potential liabilities related to this event are included in the company's second-quarter 2010 report on Form 10-Q that will be filed with the U.S. Securities and Exchange Commission....MORE
CONFERENCE CALL TOMORROW AT 9 A.M. CDT, 10 A.M. EDT
Anadarko will host a conference call on Wednesday, Aug. 4, at 9 a.m. Central Daylight Time (10 a.m. Eastern Daylight Time) to discuss second-quarter results, current operations and the company's outlook for the remainder of 2010. The dial-in number is 888.680.0878 in the United States or 617.213.4855 internationally. The confirmation number is 39759023. For complete instructions on how to participate in the conference call, or to listen to the live audio webcast and slide presentation, please visit www.anadarko.com. A replay of the call will also be available on the Web site for approximately 30 days following the conference call.
