Tuesday, February 15, 2011

Anadarko shows strong results; 2010 production above guidance; aims for 5-7% CAGR production growth over next 5 years

Anadarko reported fourth quarter 2010 results. Key highlights are :

- Increased sales volumes by 7 percent over 2009, including a 13-percent liquids increase

- Added 359 million barrels of oil equivalent of proved reserves, which equates to replacing 153 percent of production

- Continued offshore exploration success with an approximate 60-percent discovery rate and 100-percent appraisal success rate

- Achieved first oil from the Jubilee mega project in a record 3.5 years following discovery

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