This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Anadarko Petroleum's CEO Discusses Q4 2011 Results - Earnings Call Transcript

Our record sales were driven by a 10% year-over-year increase in liquids volumes, which averaged more than 290,000 barrels per day. During the fourth quarter, approximately 70% of our crude oil volumes received waterborne pricing, resulting in an overall oil price realization of $11 per barrel above WTI. We also benefited from NGL volumes, receiving 59% of WTI pricing through our ability to access Mont Belvieu in the premium Gulf Coast markets.

These results demonstrate that our liquids-focused capital allocations are working. At year-end 2011, liquids comprised 43% of our total sales volumes, delivering an incremental 70,000 barrels per day or a 31% increase since 2008, when we began targeting liquids-rich areas of our portfolio. We plan to continue this capital allocation approach that will drive us toward higher liquids production in the years ahead.

Our fourth quarter results provide an excellent illustration of significant liquids-growth achieved in several of our core operating areas. For instance, in the Wattenberg field, which we'll talk more about momentarily, we achieved a 24% overall sales volume increase over the fourth quarter 2010, with the liquids from the field increasing at twice that rate, adding almost 13,000 barrels per day.

Comparing year-over-year gross exit rates in the Eagleford Shale, we achieved an increase of approximately 50,000 barrels per day from our TEN rig program, representing 185% growth. We remain one of the largest producers in this highly economic area with a gross production exit rate of approximately 77,000 barrels of oil equivalent per day and with liquids comprising approximately 65% of the production stream.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs