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HOUSTON, Oct 28 (Reuters) - Anadarko Petroleum Corp is encountering stiff competition from private equity firms that have billions to spend on oil and gas assets, the U.S. independent oil and gas company's chief executive officer said on Wednesday. Next year Anadarko's capital spending will essentially be flat with 2015 when adjusting for asset sales, Walker told investors. This year, the company expects to spend $5.4 billion to $5.6 billion. Anadarko has not yet submitted a formal budget to its board of directors for approval, the company said. After the close of trading on Tuesday, Anadarko reported a quarterly loss of $2.24 billion, or $4.41 per share as the company wrote down the value of certain oil and gas properties. The company, which drills in shale basins in Colorado and the deepwater Gulf of Mexico, is maintaining its fairly pessimistic view on crude prices going forward. "Our approach is to plan for the worst and hope for the best," CEO Walker told investors. Shares of Anadarko were up 1.3 percent at $66.17 on Wednesday morning, helped by a 5 percent gain in crude oil prices. (Reporting by Anna Driver; Editing by Terry Wade and Matthew Lewis)
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Anadarko
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CODE : APC |
ISIN : US0325111070 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Anadarko is a exploration company based in Canada. Anadarko is listed in Germany and in United States of America. Its market capitalisation is US$ 38.6 billions as of today (€ 34.5 billions). Its stock quote reached its lowest recent point on May 12, 1995 at US$ 10.00, and its highest recent level on May 23, 2014 at US$ 99.93. Anadarko has 531 000 000 shares outstanding. |