Anadarko Withstands Major Costs in 2011, Begins to See Biggest Investments Pay Off
SUGAR LAND--February 7, 2012--Researched by Industrial Info Resources (Sugar Land, Texas)--Anadarko Petroleum (NYSE:APC) (The Woodlands, Texas) reported solid production gains for fourth-quarter and full-year 2011 as the company saw record sales volumes and kept capital spending at the low end of its guidance range, while achieving an 80% success rate in offshore exploration and appraisal drilling programs. The company reported a net loss of $358 million for the quarter, compared with $111 million in net income in fourth-quarter 2010, and a net loss of $2.65 billion for the year, compared with net income of $761 million for full-year 2010.
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