Earnings Preview: Anadarko To Report 3Q Results

THE WOODLANDS, Texas (AP) — Anadarko Petroleum Corp., one of the nation's largest independent exploration and production companies, reports third-quarter earnings Monday after the markets close. The following is a summary of key developments and analyst opinion related to the period:

OVERVIEW: Oil and gas producers, like Anadarko, have struggled amid low prices and growing supplies as demand fell off during the recession.

For the last week of the quarter, natural gas inventories held in underground storage in the lower 48 states totaled about 3.59 trillion cubic feet, according to the Energy Department's Energy Information Administration.

During the quarter, Anadarko benefited from a deepwater discovery off the shore of Sierra Leone, which confirmed the existence of an active petroleum system in the basin.

The find also lifted expectations for more oil finds in the company's vast acreage between a discovery in Ghana and Sierra Leone.

Anadarko has identified more than 30 prospects in its 10 block offshore West African position.