Shares of Texas oil and gas developer Anadarko Petroleum (APC) are down after hours, falling 50 cents, or 0.8%, to $64.60, despite reporting Q4 sales and profit slightly ahead of expectations, boosted by a 7% year-over-year jump in sales volume of crude, natural gas, and liquified natural gas.
Q4 revenue fell 17.4%, year over year, to $2.4 billion, ahead of the average $2.36 billion estimate, yielding profit per share of 4 cents, excluding certain income items, ahead of the average 3-cent estimate.
Anadarko ended the year with 70% of proved reserves developed, and said its proved reserves were 56% in natural gas and the rest in liquids.
The company ended the quarter with $3.5 billion in cash and equivalents and $11.1 billion in long-term debt, from $2.4 billion and $9.1 billion a year earlier.
Anadarko will hold a conference call with analysts tomorrow morning, Tuesday, at 10 AM, Eastern time.
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