Anadarko Petroleum announced second-quarter 2013 net income attributable to common stockholders of $929 million, or $1.83 per share (diluted).
These results include certain items typically excluded by the investment community in published estimates. In total, these items increased net income by approximately $392 million, or $0.78 per share (diluted), on an after-tax basis. Cash flow from operating activities in the second quarter of 2013 was approximately $2.502 billion, and discretionary cash flow totaled $1.908 billion.
Second-Quarter 2013 Highlights
“ We continue to have exceptional performance from our portfolio, as evidenced by the results delivered in the second quarter of 2013 ,” said Anadarko Chairman, President and CEO Al Walker .
“Our U.S. onshore activities delivered year-over-year oil growth of 25 percent, averaging approximately 97,000 barrels per day during the quarter .
We continued to drive significant improvements into our drilling and completions programs, and costs in each category were favorable to our expectations.
We reached milestones at four of our large global oil projects, which are advancing on schedule and on budget, and we achieved a success rate of almost 70 percent in our deepwater exploration/appraisal program, including five new discoveries.
We also strengthened the balance sheet, improving our net-debt-to-adjusted-capitalization ratio(2) to 29 percent compared to 34 percent at the end of 2012 .”
[mappress] LNG World News Staff, July 30, 2013; Image: Anadarko