Anadarko profit down

Anadarko said its net income was at$61 million in the second quarter of 2015, as compared to $237 million in the same period a year ago.

The company’s net cash flow from operating activities in the second quarter of 2015 was $1.243 billion, according Anadarko’s second quarter report.

“During the second quarter, we delivered more than 18,000 barrels per day of higher-margin oil sales volumes above our guidance, driven by continued improvements in productivity and ongoing operating efficiencies,” said Anadarko Chairman, President and CEO Al Walker.

“The operating improvements achieved to date are contributing to an expected full-year increase over 2014 of 13 percent, or about 35,000 barrels of oil per day, enhancing our relative cash margins and enabling us to drill more than 100 additional wells this year ,” Walker added.

Anadarko said in the report that the Mozambique liquefied natural gas project continues to advance with the selection of a consortium consisting of CB&I, Chiyoda Corporation and Saipem (CCS JV) for the initial development of the onshore LNG park.

The scope of the work includes two LNG trains witha a capacity of 12 mtpa, which is a 20-percent increase in the original capacity expectations.

Image: Anadarko